New innovation suite makes accurate forecasting more accessible for new product launches
New York, NY — Sept. 25, 2017 — Nielsen (NYSE: NLSN) today announced the addition of three new solutions to its existing proprietary financial forecasting platform, Nielsen BASES Volumetric Forecasting, the industry’s most advanced and comprehensive forecasting model available. The new modules make financial forecasting easier and more flexible in order to help fast-moving consumer goods (FMCG) companies make more accurate and efficient decisions throughout the entire innovation process.
With the unpredictable shifts that go into launching a new product, such as internal and external launch commitments, production capital and marketing budget, getting an accurate financial forecast can be difficult. With volumetric objectives as one of the top metrics for a new product’s launch success, FMCG companies need the most enhanced tools at-the-ready to gauge new product potential prior to launching in market.
Nielsen’s new forecasting modules bring a variety of benefits to FMCG companies from the start of the innovation process.
- EASY Plans: Leverages Nielsen forecasting expertise to provide recommended marketing inputs from a robust selection of launch plans, resulting in higher quality forecasts without the hassle.
- EASY Franchise Growth Analysis: Provides a customized approach to assessing new product incrementality that has been specifically designed to meet the challenges and needs of the early stage innovation process
- Nielsen Online Volume Simulator: Efficiently and accurately estimates the impact of marketing budget shifts in real-time so forecasts stay relevant as inputs change
Unforeseen challenges such as lost time collecting inputs, shifting budgets or lack of broader portfolio context cause FMCG companies to risk cutting corners using less efficient methods that could put their innovations at risk. Accurate and efficient forecasting is critical for brands of all sizes, including large manufacturers that report into Wall Street, as well as mid-tier and small brands working to gain market share.
“With all the coordination that goes into a new product launch, financial forecasting can be difficult, especially for companies that have traditionally relied on less rigorous methods,” said Jenny Frazier, senior vice president of Innovation North America at Nielsen. “The new modules alleviate these challenges by reducing effort, increasing quality, improving incrementality forecasting and assessing budget shifts in real-time. The industry’s best forecasting solution is now even easier and more flexible for our clients with the addition of these enhanced modules.”
The EASY Plans, EASY Franchise Growth Analysis and Nielsen Nielsen Online Volume Simulator modules are now available to FMCG companies in the U.S., Canada and Europe, and are part of the Nielsen BASES Volumetric Forecasting model, currently available globally. For more information, click here.
Nielsen Holdings plc (NYSE: NLSN) is a global performance management company that provides a comprehensive understanding of what consumers watch and buy. Nielsen’s Watch segment provides media and advertising clients with Nielsen Total Audience measurement services for all devices on which content—video, audio and text—is consumed. The Buy segment offers consumer packaged goods manufacturers and retailers the industry’s only global view of retail performance measurement. By integrating information from its Watch and Buy segments and other data sources, Nielsen also provides its clients with analytics that help improve performance. Nielsen, an S&P 500 company, has operations in over 100 countries, covering more than 90% of the world’s population. For more information, visit www.nielsen.com.
Genevieve Aronson, [email protected], (646) 654-5742