IRI has launched a world-first, end-to-end analytics platform in London, which is expected to be available in Australia in the near future.
IRI has invested nearly $1 billion in its technology in the last few years to enable its solutions to automatically identify market opportunities and proactively provide recommendations to enable faster and better decision-making.
The IRI Always-on Marketing Mix Effectiveness Platform, powered by the IRI Liquid Data technology, IRI Liquid Modeling machine learning algorithms and the Unify visualisation platform, enables manufacturers to measure, optimise and plan their brand’s performance, including price and promotions, media and marketing activity to ensure they are delivering results and driving growth.
It also reveals trends that allow clients to adjust and improve their strategy and react quickly to the competition.
The automated platform connects to any IRI, client or third party rich data source, API or file type. It then harmonises the different data elements to deliver a unified view, measurement as well as insights, simulation and optimisation scenarios through IRI’s Marketing Foresight, and Price and Promotion applications.
Its intuitive web interface allows clients to check media, price and promo performance in near real-time and correct course on the fly.
The platform is part of the Innovation Showcase at IRI’s International Growth Summit in London this week, featuring cutting-edge solutions and proven technology.
“Access to the latest market data and insights takes on average around 20 weeks for companies within FMCG. In a fast-changing dynamic sector, this is too slow,” said Dr Constantinos Kotopoulos, ACE Managing Director, Solutions and Innovation at IRI.
“Our always-on end to end platform offers a seamless solution that integrates with a client’s own systems and processes and is ready to go. The concept is simple – data flows in, analysis flows out.”
IRI partners with Australian Drinks Awards
IRI will sponsor the Most Distinctive Brand category at the 2019 Australian Drinks Awards.
Most Distinctive Brand is one of three consumer judged awards at the Australian Drinks Awards, alongside Fan Favourite and Most Improved Brand of the Year.
The winners will be judged via a survey of 4000 target consumers conducted by Thrive Insights.
According to Thrive Insights Director Chris Papadimitriou, the Most Distinctive Brand of the Year award recognises individuality and character as it is perceived by the consumer and demonstrates that the brand is regarded by consumers as providing a unique offering.
"This award presents an opportunity for brands that are doing things differently to be acknowledged and celebrated," he said.
IRI Chief Commercial Officer – Asia Pacific, Alistair Leathwood, said IRI chose to sponsor Most Distinctive Brand because it was such an important accolade for the drinks industry.
"Australia is one of the most innovative and forward-thinking countries and the liquor industry is leading the world - delivering the best quality, range and offers for Australian drinkers," Leathwood noted.
"IRI has a proud history of working with many of Australia’s favourite and emerging brands. We believe companies can only succeed if they understand their customers, what they want and how to reach them.The ability to stand out within an increasingly crowded industry requires a deep understanding of the needs of retailers and consumers alike. The winner of this category has been able to adapt their branding and product to appeal to the right audience. It's a really cool award, and one we are super excited to able to support in the industry."
Leathwood added that the IRI team was looking forward to celebrating with the drinks industry and the winners at the Awards ceremony.
"There is nothing we love more than seeing brands succeed in the market," he said. "Celebrating with the industry, and celebrating the success of brands is something we love to do. Being the industry’s leading partner in liquor, we always want to support and grow the industry any way we can, so being part of this event and the celebrations is a lot of fun for us."
The Australian Drinks Awards will be held in Sydney, on August 22, 2019. The ceremony will once again be hosted by Adam Spencer (above). Click here for ticket details.