Crisp has joined the NielsenIQ Connect Partner Network to empower food and beverage brands with enhanced market data access and usability.
A win-win partnership
When brands, retailers, and distributors work together, everybody wins. Crisp is on a mission to enhance transparency and collaboration across the supply chain, helping trading partners more effectively meet consumer demand, reduce waste, and improve the bottom line. We know that the key to a more agile, resilient supply chain is to break down silos and facilitate access to real-time data. As an exciting step toward realizing this goal, I’m delighted to announce our partnership with NielsenIQ, a leading provider of retail measurement data.
Crisp is joining the NielsenIQ Connect Partner Network, facilitating direct access to valuable NielsenIQ Retail Measurement data within a CPG company’s own analytics tools, such as Snowflake, Microsoft Azure, Power BI and Excel. This market data can then be analyzed alongside real-time data from retailers and distributors, which Crisp provides in a normalized, usable format through our open-data platform.
Access to up-to-date operational and market data sets all in one place is a powerful opportunity in the hands of CPG teams, from production to marketing to supply chain. CPG brands already rely on NielsenIQ for valuable consumer trends, category rankings, competitive insights and market performance data collected from more than 900,000 stores across grocery, fresh produce, convenience, and e-commerce. Integrating these insights with real-time data from distributors and retailers via the Crisp platform will offer exciting new perspectives on current business performance and future opportunities.
Enabling programmatic commerce
Enhanced data accessibility helps facilitate a new model for the retail supply chain -- a programmatic approach to commerce that furthers collaboration among all trading partners based on unified, real-time data. With programmatic commerce, POS and syndicated data is shared across the supply chain and used to optimize and automate operations in manufacturing, distribution, marketing, and sales. It enables brands to stay ahead of rapidly evolving consumer behavior, identify potential supply chain disruptions, track inventory, and understand store conditions. Their teams can then make more informed business decisions designed to boost sales, improve merchandising mix, reduce out-of-stocks, optimize logistics, and more efficiently deploy resources to reduce food waste and increase profitability. Here are just a few examples of how brands can leverage data programmatically:
- Understand Consumer Trends: With a comprehensive understanding and anticipation of consumer wants and needs, CPG companies can produce the right products, making them available in the right location for the right price. For example, responding to a surge in dairy-free milk sales, brands can offer a seasonal flavor in stores where it has the highest potential, available on promotion around a relevant event.
- Optimize Product Assortments: Programmatic commerce enables the automation of trade using advanced algorithms to drive product innovation, refine assortments by location or region, and position inventory closer to point of purchase and consumer demand. Making smarter assortment and inventory decisions helps both brands and retailers maximize profits and reduce markdowns.
- Perfect Channels: Leveraging comprehensive and granular sales data segmented by discrete channels (grocers, supercenters, convenience, distributors, and direct-to-consumer) enables companies to better identify trends and opportunities. Knowing what is selling and where helps brands target their distribution and product lineup accordingly.
- Magnify Data: The magnitude of CPG data and possible connections between them is immense and complex. Assimilating and converting data into actionable insights requires big data analytics powered by agile artificial intelligence (AI) and machine learning (ML) systems. Because AI/ML systems can process enormous amounts of data quickly, insights are delivered while it is still meaningful and swift action can be taken to anticipate and meet customer needs. Getting normalized, real-time data into these systems enables sophisticated analysis of an ever-growing set of data points.
With real-time understanding of consumers, the market, and the supply chain, the possibilities for brands are endless. We’re committed to providing tools, such as our latest connector with NielsenIQ data, to help them meet the moment, and will continue to build partnerships that break down data silos and facilitate collaboration. To learn more, contact us for a demo or subscribe to the Crisp blog.