CHICAGO — SymphonyIRI on Wednesday launched “Analytics2020,” a consumer packaged goods and retail industry initiative designed to identify and define the roadmap for consumer and retail analytics innovation into the next decade.
“Powering performance and growth by leveraging the convergence of advanced predictive analytical modeling and dynamic technology is the top-of-mind issue for executives in the CPG and retail industries,” stated Robert Holston, EVP and division leader, Symphony Analytics at SymphonyIRI. “The next decade of consumer and retail analytics promises to be nothing like the last in terms of how value is created and the speed in which decisions are made.”
The initiative will comprise a global industry survey to study in detail the requirements for success in the evolving retail landscape and how to leverage analytics to create competitive advantage, coupled with creation of an Analytics2020 Consortium, including manufacturers, retailers, academics and media agencies. The consortium will develop a series of position papers that taken together will articulate the capabilities and anticipated results of the new generation of analytics on manufacturers, retailers and shoppers.
In related news, the Grocery Manufacturer’s Association, in collaboration with SymphonyIRI, will release initial industry research findings from Analytics2020 in August 2012 at the GMA Executive Conference. The GMA also will sponsor a related executive working session at its Trading Partner Alliance Strategies 4 Growth conference in late October 2012.