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Upgrade for GfK's Predictive Tool gfknewron

March 29 2021

Global group GfK has unveiled a new version of its gfknewron solution which gives clients instant access to the company's independent, predictive analytics for tech consumer goods across 27 countries. New features include AI-driven rolling, short-term forecasts; and price optimization tools.

Kriti Sharmagfknewron connects relevant sales and consumer data across clients' global product portfolio via a customized interface, allowing them to react to changes in the market, plan and forecast. The new 2.0 version includes AI-enabled forecasting, which promises an objective, rolling short-term forecast on which to make decisions with confidence about critical stock order and allocation; a measure of the revenue premium consumers are willing to pay for one product over another similar choice, versus competitors; an interactive price promotion planner: an interactive feature that finds the optimal promotional price for a user's model and forecasts its impact; the ability to compare consumer sentiment and perception alongside sales analytics; and a global summary of performance across all key markets and product groups.

CEO Peter Feld calls the launch 'a milestone in our transformation into a provider of AI-enabled intelligence 'at your fingertips', together with consultancy, within tech consumer goods'. Kriti Sharma (pictured), who is VP Product for gfknewron, adds: 'With 20,000 recommendations generated each week, every gfknewron user is now able to predict what's next for pricing strategies, competitor landscape and consumer touchpoint - with 'explain-ability' embedded in our AI experience'.

More information online at www.gfk.com/gfknewron .

All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.

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