2024-09-25 01:11:53
NielsenIQ (NIQ), the world’s leading consumer intelligence company, announced two breakthroughs in artificial intelligence that further validate its leadership position. BASES AI and the first large language model for the consumer packaged goods (CPG) industry will help NIQ clients harness the power of responsible AI to drive innovation and grow market share. NIQ will also discuss AI trends in consumer purchase intelligence and innovation in a panel at Thursday, September 19 at 2:20 p.m. ETentitled “Does AI Know What We Truly Want? How Synthetic Respondents Are Disrupting Product Innovation” (Does AI Know What We Really Want? How Simulated Virtual Interviewees Are Disrupting Product Innovation).
BASES AI is a platform that uses consumer-authored data on consumption patterns across hundreds of thousands of households to mimic consumer behavior. The platform has access to real-time data, enabling the creation of large panels of simulated virtual respondents to replicate trusted market research techniques and methodologies in a fraction of the time. Instead of the days or weeks it would take to gather human feedback, BASES AI can provide concept potential analysis in just 10 minutes. Consumer packaged goods companies can use these scores, as well as diverse guidance on interest drivers and uniqueness, to iterate ideas before final qualification with human consumers. The speed and quality of BASES AI means that a greater volume of ideas can be evaluated while reducing overall innovation timelines. The launch of BASES AI to beta testers in North America is accompanied by the release of NIQ’s first CPG-specific language model, which leverages the advanced product segmentation capabilities of NIQ’s leading retail measurement platform, Discover. Leveraging NIQ’s 160 million product database, the model outperforms public LLM models by more than 7x in its ability to quickly and accurately code items. With access to new accelerators, the model will continue to evolve in both capability and sophistication, providing our clients with the Full View™ of their market and consumers through unparalleled insights.
“As a leader in consumer intelligence, we unlock mission-critical information,” said Ramon Melgarejo,President, Strategic Analysis and Insights at NIQ“In a rapidly evolving consumer market focused on trend-driven innovation, high-quality data is essential, and the ability to harness and extract insights from this data will make all the difference in the world. These launches are the latest examples of how we are deploying our analytical power on industry-leading data sets to generate unparalleled insights that help consumer packaged goods companies gain market share globally.”
NIQ’s world-class product suite brings the power of 2,000 engineers focused on analyzing $7.2 trillion in annual global consumer spending and data from over 3,200 unique retailer partnerships. With a broad set of data sources spanning multiple countries and thousands of data scientists focused on developing responsible AI-based business intelligence solutions, NIQ continues to be a market leader in creating, maintaining and generating new market share for clients.
BASES AI and NIQ’s Consumer Packaged Goods Industry Language Model are the latest AI-powered solutions in NIQ’s vast suite of existing products. The company recently announced the integration of Consumer and Retail Panel measurement data into platform NIQ Discover that transforms the consumer information landscape through advanced analytical models and always-on capabilities that provide customizable customer insights in response to their mission-critical queries. This cloud-based platform is one of several recent product enhancements, including the integration of Microsoft Azure MarketplaceTik Tok ShopNIQ Spaceman to SPAR’s international partners around the world. These announcements come on the heels of the company’s generative AI tool featuring global research, personalized data analysis and recommendations for informed decision-making, NIQ Ask Arthurlaunched earlier this year.
“The desire to innovate and excel has been encoded in NIQ’s DNA for over a century,” he added. Mohit Kapoor, Chief Technology Officer, NIQ. “The complete integration of GfK creates a business with approximately 25,000 clients, regularly analyzing 2.48 trillion weekly transactions. NIQ’s unique ability to deliver Full View™ – the world’s most complete and clear view of consumer purchasing behavior with AI-powered predictive analytics – allows us to experiment with even more parameters, uniquely positioning us to capture the market opportunity for the next 100 years.”
NIQ also regularly provides exclusive and proprietary insights into global consumer trends, including its latest report SpendZa comprehensive overview of Gen Z spending trends, and regular reports from the Consumer Outlook that analyzes trends, behaviors and feelings.
Sobre a NIQ
NielsenIQ (NIQ) is the world’s leading consumer intelligence company, providing the most complete understanding of consumer purchasing behavior and uncovering new paths for growth. NIQ merged with GfK in 2023, bringing together two industry leaders with unmatched global reach. Today, NIQ operates in more than 95 countries, covering 97% of GDP. With a holistic view of retail and the most comprehensive consumer insights, delivered with advanced analytics on next-generation platforms, NIQ delivers Full View™.
For more information, visit www.niq.com
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