NIQ, a leading global data and analytics solutions company, is excited to announce the creation of NIQ Labs, a game-changing initiative to harness the collective power of acquired world-class talent and capabilities through strategic mergers and acquisitions. NIQ Labs establishes itself as an innovation driver that supports NIQ’s commitment to sustainable growth through investments that optimize performance and is therefore ready to pave the way for the future of innovative products and solutions aimed at addressing the challenges of the sector. Over the past two years, NIQ has invested more than $1 billion in operational investments in new data and capabilities to develop a Full View™ of consumer purchasing behavior, with the goal of solving customer problems and identifying customer journeys. growth. Along with investments, NIQ Labs leverages a broad range of data assets, using intuitive business intelligence tools that deliver market insights and predictive analytics powered by generative AI (GenAI) and authoritative data science.
With the introduction of NIQ Labs, the company is proud to announce “NIQ Ask Arthur,” its first new transformative tool powered by generative AI that will be integrated into the Discover platform. This revolutionary solution enables users to have AI-assisted global search and personalized recommendations based on KPIs and always-on analytics. By offering AI-generated insights into reports, “NIQ Ask Arthur” simplifies the interpretation of complex data and enables informed decision-making. Its conversational AI capabilities enable deeper investigations, guiding users through large datasets and offering actionable insights. “NIQ Ask Arthur” is a revolutionary tool that shapes data-driven decision making and demonstrates NIQ’s commitment to delivering breakthrough analytics solutions that drive businesses to success in today’s dynamic environment . Through the creation of NIQ Labs, “NIQ Ask Arthur” ensures data security and leverages the best models and tools available in this rapidly evolving landscape of emerging technologies.
“The unveiling of “NIQ Ask Arthur” marks an exciting milestone for NIQ Labs and the Discover platform. This cutting-edge tool powered by generative AI revolutionizes data innovation and exploration by giving users the ability to AI-powered global search and personalized recommendations that redefine how information is used,” said Troy Treangen, Director of Manufacturing at NIQ. “NIQ Ask Arthur is a leap forward in our commitment to delivering world-class analytics solutions, simplifying complex data and empowering decision-makers with actionable insights. It’s more than just a tool – it’s a game-changing solution defines the future of data-driven decision making and demonstrates NIQ’s dedication to innovation in today’s dynamic business landscape.”
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The birth of NIQ Labs starts from the awareness that within each acquisition lies an enormous wealth of technical and specialized resources. To leverage the capabilities of NIQ associates and optimize value for customers, NIQ Labs will bring together a huge group of approximately 400 engineers, data scientists and technicians with exceptional specialized skills. This talented team will be the engine of innovation at NIQ, focusing on solving internal, industry and customer challenges through cutting-edge technology solutions. He will work alongside approximately 3,000 engineers and 700 data scientists across NIQ’s broader business operations.
“NIQ Labs, driven by an agile and entrepreneurial spirit, is committed to leveraging artificial intelligence and emerging technologies,” said Jim Peck, CEO of NIQ. “Our primary goal is to foster scalable innovation within the NIQ ecosystem. A commitment to data governance is an essential part of this mission. By prioritizing data integrity and security, we ensure a trusted foundation for the use of AI, promising unprecedented industry innovation. Our tailored strategy enables organizations to make informed decisions, ensure data consistency and protect the interests of stakeholders. With solutions from NIQ, companies they see fewer inconsistencies, minimize errors and increase the value of their data. Our commitment to transparent processes and cost-effective coordination enables customers to thrive in a data-driven world, enabling innovation and growth.”
Led by Troy Treangen, the NIQ Labs leadership team is further strengthened by the expertise of Xavier Facon, Mark Flynn, John Forese, Data Impact co-founder Ludovic Gallen, Dana James, Dennis Madura and Foxintelligence founder and CEO, Edouard Nattee. Their diverse and broad expertise is the engine driving NIQ Labs into an era of breakthrough results. This dynamic team is committed to an innovative consulting approach, basing its efforts on five key pillars:
- Generative Artificial Intelligence (GenAI): The Generative AI pillar is strategically based on the deployment of AI-generated technologies within the NIQ ecosystem with the support of approximately 700 data scientists. Building on NIQ’s vast 20-year dominance of AI and machine learning, the introduction of generative AI will unleash new technologies to enhance front-end capabilities to drive success of customers. In response to customer demand for intelligent, contextualized assistance in navigating complex business landscapes, NIQ’s GenAI pillar stands ready to provide essential solutions that guide them towards actionable strategies for success.
- Global eCommerce: NIQ Labs is set to pioneer a revolutionary approach in global e-commerce measurement and shopper analytics. The team aims to redefine measurement methodologies, focusing on the development of advanced iOS and Android applications for consumers. These applications go beyond simple data collection into complex processing and in-depth analysis to set unprecedented industry standards.
- Product Attribution : Within NIQ Labs, the Product Coding pillar is led by an expert who leverages extensive experience to generate innovation. This leadership capability plays a critical role in using “product insights” as a building block, unifying NIQ’s proprietary vision of omnichannel measurement and activation for tracked products, ensuring continued growth.
- Retail/eRetail Media : NIQ Labs’ visionary initiative is a combination of advanced technology and strategic insights to redefine the retail landscape. This driving ability delivers unprecedented consumer engagement, offering brands innovative ways to connect with their audiences. The Retail Media pillar promises to set new standards in advertising, using data-driven strategies for impactful brand visibility and customer-focused results.
- Predictive Insights : NIQ Labs is optimizing its solutions and analytics by integrating AI capabilities with strategic guidance. This initiative aims to leverage generative AI to transform consumer surveys, introduce breakthrough analytics and use intelligence from large data repositories, positioning NIQ at the forefront of innovation and efficiency in predictive insights.
NIQ, through its innovative use of artificial intelligence (AI) and machine learning (ML), supports retail and manufacturing customers in more than 90 countries, impacting more than 1.4 million stores and managing trillions of records to obtain useful information. The company’s agility and rapid deployment strategies have driven significant advancements in technology. Over the past year, NIQ’s Discover platform has seen extraordinary growth, growing from 2,500 users in January 2023 to as many as 40,000 in 71 countries today, demonstrating the broad scope of NIQ’s technology expansion. This ability to rapidly deploy technology, improve user engagement and establish a global presence highlights NIQ’s unprecedented agility and innovation in the technology industry. These advancements promote rapid distribution of information across industries, channels and products, bringing the speed of information to an unprecedented level to deliver the Full View™.
SOURCE: BusinessWire