‘AI for Marketing and Product Innovation’ Offers Unique, Practical Guide for Generating New Growth and Customer Loyalty

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IRI’s Andrew Appel, MachineVantage’s A.K. Pradeep and Unilever’s Stan
Sthanunathan Co-Author New Book That Arms Business Leaders With Road Map
to Unlock Increased Revenues and Market Share

CHICAGO–(BUSINESS WIRE)–IRI®, a global leader in innovative solutions and services
for consumer, retail and media companies, has announced that “AI for
Marketing and Product Innovation,”
a new book co-authored by
President and CEO Andrew Appel, is available here
as of today.

“AI has enormous potential to unlock growth and success for brands and
retailers if it is executed well, or to destroy them if it isn’t,” said
Appel. “AI offers unmatched opportunities to create a vastly more
accurate and actionable understanding of customers overall on a very
micro level that hasn’t been possible historically due to the lack of
data and analytic horsepower. While other books either delve into AI
theory or outline hypotheticals, our book offers practical solutions
created by authors with decades of brand and retail experience.”

Authors Bring Unique Experience

The authors share more than 100 years of unparalleled expertise in
strategy and product development, branding, and insights and analytics:

Andrew Appel, president and CEO of IRI: During his six-year tenure,
Appel has dramatically expanded IRI’s services and reshaped the company
into the innovation leader for CPG brands and retailers and media
companies. Prior to IRI, he served as chief revenue officer of Accretive
Health, as chief operating officer of Aon and as a senior partner at
McKinsey & Company.

A.K. Pradeep, CEO of MachineVantage: Pradeep founded MachineVantage in
2016 to use the extraordinary algorithmic power of AI and machine
learning to help marketers understand consumer purchase behavior and
shape strategies around products, pricing, promotion and related
activities. Prior to starting MachineVantage, Pradeep served as chief
provocateur at Nielsen and earlier was founder and CEO of Nielsen
NeuroFocus. Before that, he held positions at Meridian Consulting,
BoardVantage and General Electric.

Stan Sthanunathan, executive vice president of Consumer & Market
Insights for Unilever: At multiple roles over his 30-plus year career,
including six years at Unilever and 17 years at Coca-Cola, Sthanunathan
has been an aggressive advocate for improved utilization of data and
analytics to enhance product and marketing strategy. In his 2016 Harvard
Business Review
article, “Building an Insights Engine,” Sthanunathan
outlined the 10 critical characteristics of an optimal insights engine,
divided into operational characteristics, such as functional
independence and experimental orientation, and people characteristics, such
as business acumen and well-balanced analytic and creative thinking
styles.

Soon, 85 Percent of Consumer/Brand/Retailer Interaction Will Occur
via Machine

“AI for Marketing and Product Innovation” begins by highlighting the
potential for AI, such as drastically improving the success rate for new
product introductions — which currently hovers in the pitiful 10 percent
range — and eliminating millions in wasted advertising spends due to
ineffective planning and targeting.

It continues by digging deep into the math behind AI and the types of
data incorporated to achieve dramatic improvements in critical areas of
brand management and retail, ensuring readers and authors are on the
same page when addressing specific ways AI improves decision making. “AI
for Marketing and Product Innovation” then delves into new territory,
such as outlining how AI uncovers consumers’ conscious as well as
subconscious thoughts and identifies the contexts and associations for
these thoughts (e.g., a musical lyric might evoke memory of certain
foods). With this type of information, marketers can build algorithms
that result in identification of new product ideas and answer questions
such as, “What can we add to this product idea to premiumize it and
fetch a higher price point?”

IRI will donate Appel’s proceeds to Not
Impossible Labs
, an award-winning technology incubator and content
studio dedicated to changing the world through technology and story.

For more information about “AI for Marketing and Product Innovation,”
visit: https://www.iriworldwide.com/en-us/AI-for-Marketing-and-Product-Innovation.

About the IRI Partner Ecosystem

IRI fundamentally believes that delivering differentiated growth for
clients requires deep, highly integrated partnering with a variety of
best-of-breed companies. As such, IRI works closely with a broad range
of industry leaders to create innovative joint services and access to
capabilities to help its clients more effectively compete in their
various markets and exceed their growth objectives. IRI is committed to
its partnership philosophy and continues to actively enhance its
ecosystem of partners through alliances, joint ventures, acquisitions
and affiliations. The IRI Partner Ecosystem includes such companies as 84.51°,
Adobe, The Boston Consulting Group, Clavis Insight, comScore, Data Plus
Math, Edison, Experian, GfK, Gigwalk, Google, Ipsos, Jumpshot,
Mastercard Advisors, Omnicom, One Click Retail, Oracle, Pinterest,
Research Now SSI, Simulmedia, SPINS, Univision,
Valassis
Digital
, Viant, Yieldbot and others.

About IRI

IRI is a leading provider of big data, predictive analytics and
forward-looking insights that help CPG, OTC health care organizations,
retailers, financial services and media companies grow their businesses.
A confluence of major external events — a change in consumer buying
habits, big data coming into its own, advanced analytics and
personalized consumer activation — is leading to a seismic shift in
drivers of success in all industries. With the largest repository of
purchase, media, social, causal and loyalty data, all integrated on an
on-demand, cloud-based technology platform, IRI is empowering the
personalization revolution, helping to guide its more than 5,000 clients
around the world in their quests to remain relentlessly relevant,
capture market share, connect with consumers, collaborate with key
constituents and deliver market-leading growth. For more information,
visit www.iriworldwide.com.

Contacts

Shelley Hughes
Email: Shelley.Hughes@IRIworldwide.com
Phone:
+ 1 312.474.3675

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