Kirk Perry, CEO of IRI, IRIKirk Perry, CEO of IRI
Retailers are providing one-to-one shopper-centric marketing and execution strategies to drive growth and cater to the growing expectations of consumers. Companies can focus on higher growth rates by leveraging shopper insights, segment planning, opportunity sizing, and activation strategies. At this juncture, IRI combines consumer data with predictive analytics to uncover new consumer insights and integrate them on a technologically-advanced, cloud-based visualization platform, IRI Liquid Data. These insights boost sales and enable a faster decision-making process and improve collaboration between retailers and suppliers. IRI offers software as a service and customized solutions as per the needs of the retailer or CPG partner. The company aggregates various data sets on purchases, social media engagement, and loyalties to help CPG, retail, over-the-counter health care, and media companies grow their businesses.

“We work closely with our retail and CPG partners to help them understand the power of data science in making the best decisions and stay ahead of the curve,” says Kirk Perry, CEO of IRI.

Using IRI’s Liquid Data technology, businesses can seamlessly consolidate required data sets and use them to deliver joint business planning practices. IRI’s flexible Liquid-Data platform allows clients to operate in their environment with IRI’s data, or they can operate in IRI’s private environment.

The company provides a sophisticated three-layered data solution to derive valuable insights from their POS or other forms of data. Their multi-outlet data is quintessential for CPG manufacturers to draw insights from market trends. The second layer is called account data. With IRI as a partner, a retailer can make data associated with that banner available. It serves as a pipeline from the retailer into the CPG partner’s hierarchy, demonstrating how they view the marketplace.

The third layer is the IRI’s collaboration gateway solution that enables retailers and their suppliers to access the same information in the retailer’s hierarchy view, which helps them work together efficiently and effectively.
This solution gathers disparate purchase and econometric data sets into a single platform. The collaboration component within the retail gateway solutions provides a highly structured view of retailers’ standardized templates and common views of sales, shopper loyalty, and supply chain metrics. IRI’s Gateway solution is used by many Canadian retailers to create higher sales and average spend per trip.
  • We work closely with our retail and CPG partners to help them understand the power of data science in making the best decision and stay ahead of the curve

IRI’s retailer-centric price recommendation and promotion solutions also optimize product pricing to help firms stay ahead in an ever-changing omnichannel environment. The company’s data sets, analytics expertise, and technology platform provide new insights into current pricing and promotion performance, identifying specific areas that need to be addressed. The company also extends assortment solutions to boost sales for stores with an in-depth understanding of in-store purchase drivers, including how to maximize shelf space. IRI combines rigorous modeling of the most granular data sources that encompass directly modeling the data and simple web-based simulation software to ensure a holistic solution. Developing best-in-class support models for clients, IRI turns insights into activation and positive results.

With daily and weekly data, businesses can make better-informed decisions while accurately planning for the coming months. In short, IRI helps its clients keep track of their progress daily, which encourages improvement. In one instance, a Canadian retailer applied IRI’s assortment and promotion strategy to increase their dipping numbers. IRI established a framework and scorecard that allowed them to have ongoing reporting of the market trends. This solution enabled them to detect the trends earlier and adapt to them quickly.

A client-oriented company, IRI forges solutions that cater to all kinds of businesses and provide retailers and CPG partners with world-class solutions. Driven by the urge for improvement, IRI merged with The NPD Group to drive benefits for retail partners further. The company plans to bring all the complementary businesses of NPD into the Liquid Data platform and provide a complete store view to retail partners.