NielsenIQ integrates Consumer and Retail Data for deeper consumer insights

NielsenIQ (NIQ) this week announced the launch of NIQ Discover, a new cloud-based platform designed to transform how businesses access and analyze consumer data. NIQ Discover integrates consumer panel data with retail measurement data, providing a holistic view of consumer behavior in a single platform.

Traditionally, consumer insights professionals have relied on separate data sources for retail measurement data (tracking product sales at stores) and consumer panel data (tracking consumer purchases and attitudes). This fragmented approach can make it difficult to gain a complete understanding of consumer behavior. For instance, a company might know that a particular product is selling well in stores, but they wouldn't necessarily know why consumers are purchasing it or what factors influence their buying decisions.

NIQ Discover aims to address these challenges by integrating both retail measurement and consumer panel data onto a single platform. This allows businesses to analyze these datasets side-by-side, fostering a more comprehensive understanding of consumer behavior. For example, a company using NIQ Discover could analyze not only how many units of a particular product are being sold at a store, but also which demographics are most likely to purchase the product and what factors influence their decision-making process.

NIQ Discover boasts a modern and intuitive user interface designed to improve the user experience. The platform offers on-demand data access and visualization tools, enabling users to explore trends and insights quickly and easily. Additionally, NIQ Discover allows users to build custom analyses and access advanced analytical models within seconds, providing deeper insights into consumer behavior.

Key Features of NIQ Discover

• Integrated Data: Seamless integration of retail measurement and consumer panel data for a holistic view of consumer behavior.
• On-Demand Insights: Users can access and analyze data in real-time, eliminating the need to wait for reports.
• Flexibility: Users can build custom analyses tailored to their specific needs.
• Advanced Analytics: Access to sophisticated analytical models such as Super Shifting, Key Item Ranking, and Portfolio Trial and Repeat.
• AI-powered Insights: Integration with NIQ Ask Arthur, a Gen AI-driven tool that facilitates data analysis and informed decision-making.

NIQ Discover offers several potential benefits for businesses, including:

• Deeper Consumer Understanding: Gain a more comprehensive view of consumer behavior through the combined power of retail measurement and consumer panel data.
• Improved Decision-Making: Data-driven insights can inform marketing strategies, product development, and pricing decisions.
• Increased Efficiency: On-demand data access and streamlined analysis tools can save time and resources.
• Enhanced ROI: Improved decision-making based on deeper consumer insights can lead to a better return on investment for marketing and sales initiatives.

The launch of NIQ Discover reflects a growing trend in the consumer insights industry towards the integration of disparate data sources. By providing a unified platform for retail measurement and consumer panel data, NIQ Discover empowers businesses to gain a deeper understanding of their customers and make data-driven decisions that drive growth. As AI technology continues to evolve, it is likely that platforms like NIQ Discover will become even more sophisticated, offering even more powerful tools for unlocking consumer insights.