CHICAGO and LAS VEGAS - April 17, 2013 – CPG manufacturers and retailers are accelerating their growth through the sophisticated application of advanced analytics, many as a result of working with Information Resources, Inc.’s (IRI) Revenue Growth Management (RGM) practice.
The practice focuses on the disciplines of strategy, advanced predictive modeling and solutions, and in-store execution to help clients realize accelerated profit and growth. The RGM practice includes cross-functional capabilities across IRI Advanced Analytics, Consumer & Shopper Marketing and Consulting groups. Between 2011 and 2012, the RGM practice increased its client base by 16 percent and U.S. revenues grew 23 percent year over year.
The foundational framework underlying RGM is a fundamental re-engineering of a company’s go-to-market strategy. Rather than focusing on ad-hoc studies and narrowly focused tools, the Intelligent Revenue Management framework integrates customer and brand strategies with advanced predictive analytics using granular data and converts the strategies into executable tactics through advanced solutions. IRI works with clients to implement these strategies that deliver targeted profit opportunities.
“Revenue growth management is the single biggest driver of measurable growth for our clients and the industry,” said Robert Holston, executive vice president and division lead, IRI Advanced Analytics. “There is a huge opportunity for tangible growth when RGM is thought through holistically. Manufacturers that are winning are moving beyond just a focus on price tactic optimization and instead are focusing on an integrated strategy rich with analytics and deeply connected to retail execution.”
To build on the success of the RGM practice, IRI Advanced Analytics is introducing today, at IRI’s 2013 Summit Conference, enhanced 2.0 versions of three software solutions available to clients: Price Trade Advantage™, Trade Planner™ and Trade Value Drivers™. These solutions leverage the capabilities of an improved technology platform, featuring a new user interface and expanded functionality. These solutions connect with an integrated approach to address the opportunity of RGM.
Price Trade Advantage Offers Superior Price and Promotional Management
Price and Trade Advantage enables manufacturer decision makers to predict and improve pricing and promotion strategies by providing predictive results through a series of web-based diagnostic reports and market simulations. Powered by sophisticated store-level analytical pricing models, the solution provides an end-to-end application that enables planning and evaluation of alternative price and promotion scenarios, analysis of price points and thresholds, and review of success of past tactics.
Trade Planner Facilitates Improved Trade Spending
For trade marketers seeking visibility into the ROI on trade spend, Trade Planner is a robust trade event-level analytics and planning solution. Trade Planner is powered by IRI’s store-level, analytical models that help provide the true picture of trade events performance by matching trade promotion management (TPM) data with IRI’s POS data. Tactical in nature, the solution offers two modules that provide a seamless flow from post-event ROI analysis to flexible, trade-plan development. Post Promotion Analysis enables business users to calculate precise ROI using analytical methodologies, for example, by simulating market response in absence of everyday low price (EDLP) buy downs. The Event Planning Calendar provides a graphical view of future trade events and predicts their impact on financial, sales and volume goals using multiple what-if scenarios.
Trade Value Drivers Analyze Past Performance to Assist Planning for the Future
Designed to support revenue growth generation, Trade Value Drivers is a trade-focused version of Business Value Drivers, IRI’s hosted, analytically driven advanced reporting solution that helps manufacturers attribute and evaluate the effectiveness and performance of their prior period business strategies. Trade Value Drivers is tailored specifically to the needs of category and revenue growth managers. It provides users with analysis and insights across a range of drivers, such as key base drivers of base price, distribution, trends and competitive effects, plus trade drivers across price reduction and quality merchandizing. The application allows for a more granular drill-down analysis at price promoted group (PPG), retail market area (RMA) and week levels to reveal deeper insights around base, discount, frequency, and effectiveness.
IRI is a leader in delivering powerful market and shopper information, predictive analysis and the foresight that leads to action. We go beyond the data to ignite extraordinary growth for our clients in the CPG, retail and over-the-counter healthcare industries by pinpointing what matters and illuminating how it can impact their businesses across sales and marketing. Follow IRI Advanced Analytics at @analytics2020 and IRI at @iriworldwide.
Move your business forward at iriworldwide.com.
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