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IRI Rolls Out Forecasting Solutions
US consumer specialist Information Resources, Inc (IRI) has launched Analytic Advantage, a portfolio of predictive analytic solutions which includes business planning tools for consumer packaged goods (CPG) manufacturers and retailers.
The new suite offers continuous, repeatable and prescription analysis for optimizing pricing and trade promotion, as well as branded and private label marketing decisions.
Obtainable as stand-alone solutions, the firm says its tools - IRI Price Advantage, IRI Trade Advantage and IRI Foresight - enable companies to quickly make forward-looking business decisions based on integrated data, measurable observations and reliable forecasts.
Explains Patrick Cummings, EVP and Global MD of Modelling and Analytic Solutions: 'This portfolio enables clients to produce thousands of models at much lower cost in a fraction of the time.'
Issue-driven dashboards are included in the IRI Price Advantage and IRI Trade Advantage tools, to help executives identify what's happening within their business, understand how these issues are impacting the company, and implement strategies to address them.
Through store-level regression models, IRI Price Advantage provides web-based, real-time analysis of pricing sensitivities, thresholds and competitive implications in order to maximize sales, margins and drive overall brand management and sales lifts.
Lastly, IRI Foresight enables CPG firms to make business and planning decisions by assessing the effects of activity such as inflation, unemployment rates, property values and availability of credit on consumer spending.
'IRI Foresight demystifies the pressures influencing how shoppers spend their money,' adds Consulting and Innovation President Thom Blischok. 'By tracking up to 400 economic indicators, we can help CPG companies look at where their company is today and accurately plan for appropriate brand, trade and promotional spend based on solid econometrics.'
IRI provides consumer, shopper, and retail market intelligence and insights, along with a combination of integrated market information, automated and predictive analytics.
Web site: www.infores.com .
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