NEWS28 May 2021

IRI launches insights tools

FMCG Innovations Media New business News North America Retail

US – Consumer, retail and media services firm IRI has created two automated insights and decision-making tools.

Shopping trolley

Opportunity Alerts and Opportunity Predictors will allow consumer packaged goods, retail and media companies to identify gaps in their business processes and growth opportunities.

The tools use artificial intelligence and machine learning to convert data into prescriptive actions, and is based on IRI’s Liquid Data business-to-business technology and data platform.

Areas the tools can help businesses with include pricing, promotions and discounts, shopper dynamics, and product identification and distribution.

Dr Krishnakumar Davey, president of strategic analytics for IRI, said: “Today’s unprecedented pace of change, coupled with the rapid advancement and digitization of insights and analytics, means that solving for speed of decisions is essential.”