Industries

Applications

Innovate

Trends

Current trends among the product innovators and scientists, test chefs, product visionaries and brand masters include

• More turnover in R&D staff, staff cuts, organizational changes as companies go global, making it hard to manage information that is 'walking out the door'
• More accountability to new items, as the fight vs. private label is stronger
• Because of the economy and profit pressures, fewer experiments around new items can be tried, and the perception is that the way to do that is to have a more data-centric approach to what gets funded and what does not
• More scrutiny from the US and other governments on what ingredients and components are in products, and their safety, as well as recalls

Analysis

• R&D Knowledge Management, and Repository Master Data Dashboard
• Content Scores, Study Findings & Recommendations
• Focus Group Scores & Demographics, Survey Dashboards,
• Test Group Extrapolated Forecast, Test Store Extrapolated Forecast
• Plant temperatures, RFID, Track and Trace, SAS ID-UPC ID, Sustainability

Benefits

Some benefits attributable to innovation through fast-performing wide and deep data analysis include:

• Keeping all data searchable and accessible rather than rolling it to archives
• Text mining of keywords in recommendations and studies; fast responding queries to modeling queries in statistical tools
• Achieving higher success rates for new items, increasing new item facings vs. private label, and rolling new items faster with a complete distribution profile at retail
• More quickly cancelling items not headed for success
• Enabling fast response if or when an FDA or government action or inquiry is made or a recall occurs; enabling a fast store extraction of items by knowing where items are at retail at any time
  

Back