Information Resources, Inc. and Marketing Analytics, Inc. Announce Strategic Relationship
CHICAGO, Apr 1, 2002 /PRNewswire
New Marketing Resource Allocation Tools Emphasize 'Speed to Insight'
Information Resources, Inc. and Marketing Analytics, Inc. today announced their joint offering of new marketing resource allocation tools for consumer packaged goods (CPG) manufacturers. Information Resources, Inc. (Nasdaq: IRIC) is a leading provider of consumer behavior insights to the CPG industry. Marketing Analytics, Inc., a privately held analytics software and consulting firm, is a pioneer in automated marketing analysis software.
These new tools combine IRI's successful Mix Drivers™ marketing mix model with automation technology provided by Marketing Analytics' Coefficient Generator™ software.
"Until recently, most CPG brands updated their marketing mix analyses no more than once a year, and did them only at a national level, because such analyses typically took months to complete. Mix Drivers, a marketing mix approach based on Bayesian statistics, provided the additional geographic depth and stability our clients required, and now our relationship with Marketing Analytics provides the automation technology needed to extend Mix Drivers to a broader audience and to allow more timely updates," explained Pat McGraw, executive vice president of Analytic Product Management and Development at IRI.
"Marketing Analytics' Coefficient Generator software fully automates the marketing mix modeling process, reducing delivery time from months to days or hours," explained Ross Link, President of Marketing Analytics. "We are proud to align with IRI to provide fully-automated store-level marketing mix analysis, enabling CPG manufacturers to more frequently update their understanding of marketing effectiveness for multiple brands and thereby respond to marketplace changes and competitive actions more quickly."
The new services being developed by IRI and Marketing Analytics have both strategic marketing and tactical sales applications. "Our goal is to take marketing mix analysis beyond a binder on the brand manager's shelf and distribute this intelligence throughout a company, from senior management to local sales management. Our new tools will enable our clients to make more profitable marketing decisions faster than ever before," said McGraw.
About Information Resources, Inc.
Information Resources, Inc. (Nasdaq: IRIC) is a leading provider of UPC scanner-based business solutions to the consumer packaged goods industry, offering services in the U.S., Europe and other international markets. The Company supplies CPG manufacturers, retailers and brokers with information and analysis critical to their sales, marketing and supply chain operations. IRI provides services designed to deliver value through an enhanced understanding of the consumer to a majority of the Fortune 500 companies in the CPG industry. More information is available at www.infores.com.
About Marketing Analytics, Inc.
Marketing Analytics, Inc. is a privately held firm specializing in the analysis of syndicated marketing data and related applications. Since 1991, Marketing Analytics has helped leading manufacturers and retailers improve profitability by analyzing their sales data and identifying those factors that most influence sales. Marketing Analytics' research on model aggregation, pooling, shrinkage, and model validation is cited in business publications as state of the art. The firm's flagship product, Coefficient Generator, is used by a number of Fortune 500 companies to guide pricing, promotion, and advertising decisions for products with billions of dollars in annual sales. For more information about Marketing Analytics, please contact Ross Link at 847-733-8459 or go to http://www.marketinganalytics.com.