Automated Innovation Tracking For A Better Innovation Strategy
NIELSEN INNOVATION MEASUREMENT APPS
Across the consumer packaged goods (CPG) landscape, 72% of companies report that innovation is one of their top three corporate priorities. But it’s also the No. 1 marketing measurement gap, meaning that most companies don’t know how their innovation performance compares with their competitors’ or have visibility into new products as they hit the market.
Competition is fierce, particularly as a new product hits the shelves, which happens, on average, about every two minutes. And with new innovations spanning across categories and departments, tracking the launch and performance of the products that are most relevant to your customers and strategy can seem like an impossible responsibility.
Thankfully, there’s no need to rely on manual processes to stay in the know. Nielsen Innovation Measurement apps automate the way you keep a pulse on the latest product innovations and competitors’ innovation performance. Nielsen Innovation Measurement fills two critical gaps in your innovation strategy: new product release tracking tells you what’s hitting shelves and innovation performance measurement shows you who’s winning at innovation and why. Innovation Measurement uses Nielsen proprietary innovation coding and advanced algorithms to capture, classify and analyze innovation market activity for you. Ultimately, you get market intelligence that’s comprehensive, automated and actionable to inform your overall innovation strategy.
Eliminate surprises with automated alerts
Never get caught off guard again. Innovation activity alerts tell you when new products hit the market and tell you which manufacturers are most active in the innovation space. Keep all of your innovation stakeholders in the loop with bi-weekly emails highlighting new launches. That way, everyone contributing to new product development has an eye on recent activity.
Know How Your Innovation Strategy Stacks Up
Innovation Profiler shows you who’s winning at innovation and how. Easily see how your competitors’ innovation strategies are performing, then assess how they compare to your own. With Innovation Profiler, you can explore innovation trends, spot opportunities earlier and enable a stronger, more data-informed strategic process.
How Nielsen Innovation Measurement Works
- Proprietary Innovation Coding powered by Nielsen Reference Data identifies innovation activity and translates detailed product-level characteristics into adaptable analytics with an eye toward trends.
- An advanced algorithm identifies and classifies new products as soon as they appear in Nielsen-measured channels. The algorithm scans the entire product universe for new launches weekly, so the data stays fresh.
Innovation Measurement apps give you the insight you need to make data-driven investment decisions and align your organization on strategic innovation objectives.
No matter the size of your business, every corner of it cares about innovation and can benefit from better innovation measurement.
- Insights: Spend minutes, not days, developing competitive intelligence and know about new products as soon as they hit the market.
- Innovation: Incorporate competitive intelligence into your current innovation process to inform and refine strategies. Keep a pulse on market trends throughout the new product development process to support an agile innovation framework.
- Brand and Marketing: Get early insight on how competing new products are packaged and marketed to help shape and refine your go-to-market strategy.
- Research & Development: Use competitive intel to fuel discovery and planning.
- Sales: Get ahead of retail conversations and store visits by knowing what’s new to the shelf and how it may impact your business planning.