Diversification is the Future 🌍
🎯 Ex-NielsenIQ - Expert in FMCG / CPG / Retailer Market Research & Negotiation 📣 Proper preparation prevents poor performance in your Market Research Negotiations
🔍 The Future of Market Research Data: Integration and Flexibility in Focus The days when data was sourced from just a single provider are over. 🌐 Modern companies now rely on their own systems, which enable the integration of various data sources—including highly sensitive data like margins—that would never be included in the systems of market research institutes. Thanks to advanced technologies, today’s data management systems can easily handle diverse data sources: from retail panel and household panel data to store-based information 🛒 and promotion data from service providers. The glue that holds all of this together is the GTIN code, which is now available in high quality—including product reference data—through GS1. This flexibility allows companies to source certain data from one institute and other data from another. ✔️ This is not only strategically sound to maximize data quality or coverage but also crucial for managing costs efficiently. 📈 Service providers and data integrators specializing in this type of data integration are giving businesses even more options. They enable flexibility and enhanced analytics capabilities, making it easier for companies to break free from the restrictions imposed by institutes. The goal of these restrictions is often to create dependency and, in turn, to push through annual price increases effortlessly. 💡 We must not forget: market research should empower FMCG companies by delivering precise analyses that generate insights, offering them at least a short-term competitive edge. 🏆 Over-standardization by market research institutes works against this goal—flexibility and a variety of data sources are the keys to success! 🔑 #nielseniq #niq #gfk #gs1 #circana #kantar