View the complete article at DMNews.
As AI continues to get better at creating predictive models (machine learning algorithms are designed to improve over time, the more data they acquire to solve a specific problem), mass market consumer packaged goods (CPGs) can use this information to determine the most effective pricing to move product off the shelves.
Tech providers in the data-driven CPG space draw their numbers from individual clients, as well as industry-wide data from a source like Nielsen’s Connected Partner Network.
Here at Eversight, as an early member of the Connected Partner Network, we use this data to track promotions in specific markets, and to measure the effectiveness of promotions for brand clients. Eversight uses these promotional insights to work with brand sales teams to determine trade spending.
Read more from Eversight Co-founder and Chairman David Moran on our partnership with Nielsen and our work in pricing and promotions at DMNews.