Facing growing pressure to innovate better, more and more C-level executives are scrutinizing their consumer research investments and asking some really tough questions:
To help answer these questions, Nielsen recently conducted a series of studies to examine the impact of research spend on innovation revenue. The results of those studies showed that, on average, the use of evolutionary optimization identified concepts that yielded $13 million more in forecasted revenue than concepts selected using other methods.
In other words, brands that do not use evolutionary algorithms to optimize their concepts sacrifice roughly one-third of their potential revenue.
Even for smaller to medium sized launches, the expected revenue improvement and return on investment payback for optimization can be huge.