IRI Unveils 'Instant' Retail Data Analytics

In the UK, consumer, shopper and market insights specialist Information Resources Inc (IRI) has rolled out a system which enables almost instant data flow from in-store EPOS (electronic point of sale) devices, to IRI's databases and analytics systems.

The 'Liquid Modelling' solution is designed for retailers and manufacturers who need actionable insight very quickly, and across a broader range of brands and categories.

Prior to the launch, IRI says in-store data required up to six weeks to be manually extracted, whereas now, the task takes just 24 to 36 hours.

Executive Director Hans Jessen says that the solution provides a 'holistic picture' of the market, to help clients understand how best to manage their pricing and promotion: 'The industry is desperately looking for ways to accurately monitor behaviours in order to achieve the most profitable outcomes. Liquid Modelling replaces previous analysis of emotional decisions with ones of hard core scientific insight.'

Web site: www.infores.co.uk .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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