Big Data and analytics insight company IRI has announced significant improvements to its consumer and shopper insights solution, IRI Shopper Loyalty. The improvement will expand the solution to cover more channels, geographies, and retailers.
The solution works to leverage de-identified frequent shopper program (FSP) data from over 350 million loyalty cardholders to provide detailed and precise shopper intelligence. This translates into data on more than 65 million households.
“The Shopper Loyalty solution is another critical step forward in IRI’s mission to enhance marketers’ ability to better understand consumer and shopper behavior,” says Robert I. Tomei, President of Market and Shopper Intelligence for IRI.
“By embedding the largest integrated consumer and shopper data set into the IRI Shopper Loyalty solution, we are providing the most precise, detailed shopper-based analytics ever available in the industry to help marketers better understand behavior, measure new product launches, evaluate promotional campaigns, pricing, assortment optimization, and more. The scale and depth of our Shopper Loyalty insight solution provides the same speed, granularity, and accuracy of core POS measurement solutions with a first ever shopper view overlay.”
This fully integrated solution helps retailers and manufacturers understand their consumers with insights into product features, in-store causal factors, merchandising and promotion tactics, demographics, and attitudinal and purchase-based segmentations that drive actual shopper behavior. The solution combines retailer FSP data with IRI’s network, which includes POS data and in-store causal factors, as well as national consumer panel, TV, digital, and mobile location data.
IRI’s announcement of the improved Shopper Loyalty platform comes after an independent research firm, Forrester Research, recognized the analytics company as a strong performer in marketing measurement and optimization solutions. Forrester evaluated IRI against 34 market presence and strategy criteria, and in the research firm’s Q2 2018 report, IRI received the highest score possible in the Unified Measurement category.
The report states that IRI “has built on its heritage as a strong strategic partner and data provider to the CPG and retail industries by adding a strong technology foundation to its impressive data assets and industry expertise. IRI belongs on the short list of any firm in the CPG industry looking to increase the sophistication of its use of analytics across its business.”
In addition, Krishnakumar Davey, President of Strategic Analytics for IRI, says, “As one of the original innovators in big data and big data analytics, IRI offers data, analytics, and insights that help our clients find meaningful growth. We are proud to be listed among the strong performers in marketing measurement and optimization solutions and are grateful to our clients, who have trusted us as their strategic partner. We are continuing to make investments in artificial intelligence and machine learning to help our clients make smarter and better marketing spend decisions faster.”