Before we get into the ways to use panel data, let’s set the stage by explaining what exactly it is. Panel data, also called household data, is self-reported purchasing data collected by third-party companies like NielsenIQ. It gives brands insight into the consumer’s view of their category, industry, product offerings, customer loyalty, and more. POS, or point-of-sale data, is transaction-level data collected at a retail store. This data is based on product sales and can give you insight into your sales velocity, category ranking, most valuable retailers, and more. Panel data is highly complementary to POS data and can help you better serve consumers. If you’re only looking at one type, you’re not getting the whole picture.
10 Questions Answered by Panel Data
Now that we’ve covered the difference between panel and POS data, let’s take a closer look at some of the ways panel data can be used in your business. Whether you’re looking to impress investors, seeking new distribution, or expanding shelf space, panel data can make all the difference.
Download our free infographic to see 10 questions you can get answered by panel data, including:
- Who Is My Customer Base?
- What Do Consumers Think of My Brand?
- How Should I Expand My Product Assortment?
- And More
Learn More About Your Customers with Total Wellness
Understanding what consumers care about and how they’re spending their money can help you better plan for the future. Investing in data can make all the difference. NielsenIQ tracks 1,000+ attributes across total store and 250+ NielsenIQ-only attributes and can get granular with Product and Label Insights.
Learn more about our Total Wellness offerings and sign up for a demo to see this attribute data in action. Our team is always here to help you get the data you need when you need it.
As an emerging or growth CPG brand, the power to emerge on top of the wellness landscape rests in your hands. Fortunately, our Byzzer platform can help by providing comprehensive reports that help you understand shoppers’ needs and behaviors better. Best of all, we’ll give you actionable insights so that you know what to do next to grow your brand.
