NIQ Taps M&A Talent for New Innovation Labs

Consumer data and analytics firm NIQ has announced the launch of NIQ Labs, an innovation center which it says will 'harness the collective power of top-tier talent and capabilities acquired through strategic M&As'.

The firm says that over the past two years it has invested more than $1 billion in operating investments in new data and capabilities to build a 'Full View' of consumer shopping behavior to aid client growth. This year it combined with global research group GfK. The new Labs will exploit the group's extensive data assets and make use of 'intuitive' business intelligence tools tapping Generative AI to give detailed market insights and predictive analytics.

The first tool to emerge will be 'NIQ Ask Arthur', which will form part of the firm's Discover platform and provide users with AI-assisted global search and personalized recommendations within reports, based on the application of real-time analytics to clients' KPIs. Ask Arthur will 'guide users through vast datasets' and provide actionable insights, says the firm.

The Labs will bring together around 400 engineers, data scientists and technicians with specialized skill sets, who will 'serve as NIQ's dedicated innovation engine' - these in turn can call on the support of c.3,000 engineers and c.700 data scientists within the broader NIQ business. Their work will range across five key areas or 'pillars': GenAI; Global E-commerce measurement and shopper analytics; Product Attribution, tapping NIQ's product tracking data and expertise; Retail / eRetail Media; and Predictive Insights, using GenAI to 'transform consumer surveys, introduce pioneering analytics, and utilize intelligence from vast data repositories'.

The Labs will be led by Troy Treangen (pictured), as Chief Product Officer, with a senior team comprising Xavier Facon, Mark Flynn, John Forese, Data Impact co-founder Ludovic Gallen, Dana James, Dennis Madura, and Foxintelligence founder and CEO Edouard Nattee. Treangen comments: 'NIQ Ask Arthur' represents a leap forward in our commitment to delivering top-tier analytics solutions, simplifying complex data and empowering decision-makers with actionable insights. It's more than a tool; it's a game-changer shaping the future of data-driven decision-making and exemplifying NIQ's dedication to innovation in today's dynamic business environment'. NIQ CEO Jim Peck says the Labs are 'driven by an agile and entrepreneurial spirit', with a core objective of 'fostering scalable innovation within the NIQ ecosystem'.

The firm, previously the Buy half of Nielsen and then Nielsen Connect / NielsenIQ, is online at www.niq.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.