Education

How Best-in-Class CPG and Retail Data Providers Harness AI: Part 2

AI in Action: Transforming CPG and Retail through Advanced Personalization, Product Innovation, Dynamic Pricing, and Supply Chain Optimization and Risk Management

Education

How Best-in-Class CPG and Retail Data Providers Harness AI: Part 2

AI in Action: Transforming CPG and Retail through Advanced Personalization, Product Innovation, Dynamic Pricing, and Supply Chain Optimization and Risk Management


  • Welcome to part two of our three-part series where NIQ’s human intelligence meets AI.
  • Readers of this series will gain AI and NIQ perspectives on current and future applications of AI for servicing the CPG and retail sectors.

How best-in-class CPG and Retail data providers should be using AI

We engaged ChatGPT to craft a comprehensive brief that offers an AI-driven perspective on how best-in-class CPG and Retail data providers should be using AI. It provided a list of 15 different ways best-in-class CPG and Retail data providers should be incorporating AI into their tools and day-to-day practices.

In this article, we delve into Chat GPT’s recommendations, encompassing: Advanced Personalization, Product Innovation, Dynamic Pricing, and Supply Chain Optimization and Risk Management.

In case you missed it, Part 1 of our series discussed Chat GPT’s initial five recommendations encompassing data collection and aggregation, quality assurance, demand forecasting, inventory optimization, and market trend analysis.

In the competitive landscape of modern retail, an AI-driven strategy is essential. AI facilitates informed decision-making, allowing companies to refine pricing, assortment, supply chain, innovation and merchandising strategies based on advanced market dynamics and consumer behavior analysis.

However, the leap to this AI-powered future hinges on the quality of input data. Relying on broad-stroke data and outdated analytics is insufficient for the retail revolution ahead. The difference lies in partnering with data providers who offer not just raw data but accurate, reliable data that is fit for strategic data synthesis, crucial for accurate, actionable AI insights.

Understanding the significance of these quality data partnerships allows us to appreciate AI’s full spectrum of transformative capabilities. With this context in mind, let’s explore AI in action through: Advanced Personalization, Product Innovation, Dynamic Pricing, and Supply Chain Optimization and Risk Management.

CPG and Retail Data providers should be using AI for…

Click the boxes below for NIQ’s perspective.


1.

Advanced Personalization


2.

Product Innovation


3.

Dynamic Pricing


4.

Supply Chain Optimization


5.

Risk Management

Meet our NIQ experts

Kris Ewing

President, Global CPS, NIQ

With more than 17 years of experience in the analytics and consumer packaged goods industries, Kris has held a number of senior leadership positions at NIQ, including Vice President of Global Advanced Analytics, Global Account Lead for several leading global manufacturers, and the leader of NIQ’s commercial strategy for North American and Global clients.

Ramon Melgarejo

Managing Director, NIQ BASES and Global Analytics

TBD

Steve Zurek

VP of Advanced Analytics, U.S. Thought Leadership, NIQ

Steve is a CPG industry veteran with 32 years of experience in sales and category development, Prior to NIQ, he worked for PepsiCo, Procter and Gamble, and GSK Consumer Health. As the Thought Leadership Lead for North America Analytic Sales, he sets his sights on the future of CPG and leverages his client- first perspective to create actionable, data- driven content.

Pascal Sauve

Head of Emerging Technologies, NIQ

Pascal is responsible for the product vision and strategy for NIQ’S emerging technology initiatives including generative AI, confidential computing clean rooms, and data lakes. He collaborates with engineers, researchers and stakeholders to build innovative and scalable products that enable NIQ customers to leverage the most complete and trusted view of consumers and markets.

Ready to transform your CPG or retail business with NIQ’s AI-driven solutions? Contact us to unlock your potential.