Navigating Today’s Economic Uncertainty
Quantify & Plan for the Impact of the “New Normal” on Your Business
NIQ Next Quantifies Impact of Factors to Inform Your Three-Year Strategic Planning Process & Mitigate Near-Term Risks
Case Study: Global Food Manufacturer
Given considerable uncertainty in today’s economy, a global food manufacturer sought an objective way to navigate various factors that they do not directly control (e.g., rising inflation, tariffs, evolving consumer trends, etc.).
NIQ Next developed an analytic approach that forecasts each risk/opportunity over a three-year time horizon and provides the manufacturer actionable recommendations to confidently make decisions to optimize business performance.
Key Business Questions Addressed
What factors represent the greatest risk/opportunity to the business in the next three years?
How significant are the risks/opportunities (quantified)? How probable are they to come to fruition?
What specific actions should the manufacturer take to confidently optimize our business given the backdrop of economic uncertainty?
The NIQ Next Solution: Stop Reacting and Start Planning!
NIQ Next helps you see ‘what’s next’ and prepare for various scenarios that might unfold given the fluidity of the current geopolitical environment. Using a collaborative approach with your team, NIQ Next leads you and your team through the process.
1
Identify
NIQ Next works with you to identify the most relevant factors that may impact your sales
2
Prioritize
In a workshop setting, NIQ Next facilitates decisions with your leaders to pinpoint which factors have the highest probablility of having a material impact on your business results.
3
Quantify
Using a combination of advanced analytic techniques and informed assessments from NIQ forecasting experts, NIQ Next provides volumetric estimates for the highest probablility factors.
4
Plan
Use estimates and recommendations from the project, NIQ Next works with you to create growth and/or mitigation plans to optimize business performance.
Identify
In collaboration with you, NIQ Next identifies and prioritizes the factors that are most likely to impact your business
Economic
Factors influenced by US fiscal policy and resulting category-specific pricing actions
Legislative
Factors influenced by non-fiscal US policy decisions in Washingtom
Retail & Shopper
Factors that impact the consumer experience when making purchase decisions
Demographic
Factors influenced by the changing US consumer profile
Consumer
Factors aligned to evolving end-user needs and wants in the US
Prioritize
Using advanced analytics techniques and expert opinion, NIQ Next qualitatively identifies the highest probability, highest impact factors for further analysis
NIQ Next Driver Analysis
- Using advanced analytics techniques supplemented by NIQ expert opinion, NIQ Next identifies each factor as a headwind (negative volumetric impact) or tailwind (positive volumetric impact)
- Quantification by factor can be done for one or more years (maximum three-year time horizon)
- NIQ Next’s volumetric analysis becomes a key component of business implications and recommendations.
Quantify
NIQ Next quantifies the factors, summarizing them into a Driver Analysis and bridging the impact year-over-year
Quantify
NIQ Next also provides volumetric (and dollar) estimates over a long horizon, up to three years, to inform your long-term strategic plans
Inform Your Strategic Panel
- NIQ Next delivers estimates in both volume (EQ unites) and dollars, a useful input into strategic plans
- In the short-term, insights uncovered by NIQ Next help drive close-in actions to mitigate risk and optimize opportunitites
Why?
NIQ Next takes the subjectivity out of decision making by supporting every recommendation with a rationale based in facts/data
Now What?
NIQ Next synthesizes each risk or opportunity into actionable recommendations, focused on business optimization
What?
NIQ Next provides a clear articulation of the risk or opportunity, including insights informed by NIQ data (and other info sources
So What?
NIQ Next unpacks business implication(s), including volumetric assessment and competitive context needed to drive success
Plan
NIQ Next analyzes all data available and provides you actionable recommendations to mitigate risk and identify growth opportunities
NIQ Next is the growth and transformation consulting arm of NIQ at the intersection of consumer research, consulting and activation to shape and optimize client strategy
NIQ Next
Growth & Transformation Consulting
- Informs clients’ growth and brand strategy
- Is rooted in powerful consumer insights and behavioral data
- Defines tangible activation tactics
What’s Next is NOW!
Transformation is not a one-time goal or a catchy phrase. It’s a systematic approach to continuous reinvention, inspried by data, to keep winning tomorrow!
What we offer?
We leverage NIQ’s proprietary data, research tools and customer or third-party data to connect the dots to shape our clients’ future growth strategy
Market Expansion Strategy
Determine the markets and categories in which to play and how to win
Inspired Branding Strategy
Develop strategies to build distinct brands and transform brand experiences
Accelerate Innovation Strategy
Accelerate product and business model innovation strategies & processes
Marketing Transformation Strategy
Build modern marketing capabilities to activate for biggest ROI and impact
Efficiency Strategy
Identify strategies to deliver efficiencies and cost reduction