Agricultural data analysis has reached a new milestone with the launch of the NIQ Discover platform, which for the first time combines retail measurement and consumer panel data into a single, comprehensive source. This innovation, brought to market by NielsenIQ (NIQ) and GfK, provides a holistic view of market trends and consumer behavior, enabling users to make informed decisions with unprecedented accuracy.
NIQ Discover aims to bridge the gap between market data and consumer insights, offering a unique perspective that is vital for the agricultural sector. As of now, the platform offers access to consumer panel and retail data across 23 markets in North and Latin America, Europe, the Asia-Pacific region, and South Africa, including Germany. One of the key features of this platform is its ability to ensure trend consistency between consumer and market data, providing a unified view that has been previously unattainable.
Stephan Knäble, Managing Director of Consumer Panel Services at NIQ, highlights the importance of this integration: “Through the combination of our Consumer-Panel data with Retail-Panel data on NIQ Discover, we now provide a holistic view of market data. This allows us to explain the relationship between distribution and penetration, giving our clients a competitive edge.”
The platform’s potential is further amplified by the planned expansion of the consumer panel to 30,000 households in Germany and an additional 250,000 participants globally. This expansion aims to improve data coverage and provide more detailed insights into consumer behavior, which is crucial for farmers, agronomists, and agricultural engineers who rely on accurate data to make strategic decisions.
Key benefits of NIQ Discover include:
- Enhanced User Experience: The cloud-based architecture and data aggregation system offer an improved user experience, with intuitive visual representations of consumer and retail data providing a comprehensive overview.
- Flexibility in Analysis: Users can create custom analyses and receive immediate results, allowing for diverse evaluations based on target groups, products, distribution channels, geographic regions, time periods, or demographics.
- On-Demand Data Access: The advanced analysis model enables users to obtain key performance indicators (KPIs) such as buyer reach and conduct complex analyses on assortment optimization, first-time and repeat purchases, gain and loss, or top product rankings within seconds.
- Generative AI Assistance: The new tool, NIQ Ask Arthur, powered by generative AI, aids in decision-making by simplifying data searches and analyses, making it easier for users to extract actionable insights from the consumer panel data.
Kris Ewing, President of Global Consumer Panel Services at NIQ, states, “In the past year, we have made significant investments to improve the performance, quality, and usability of data-driven insights from our consumer panel. The expansion of our modern, cloud-based platform is one of many enhancements we are implementing worldwide. Our clients now have combined access to consumer panel and retail measurement data with a seamless user experience.”
The integration of retail and consumer data through NIQ Discover marks a significant advancement in agricultural data analysis. This platform not only enhances the accuracy of market insights but also provides the flexibility and immediacy needed to respond to market changes effectively. For those in the agricultural sector, from farmers to scientists, NIQ Discover offers the tools necessary to stay ahead of market trends and make data-driven decisions that promote growth and stability.
