GfK launches AI-supported intelligence platform “gfknewron”

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New Delhi : GfK, a leading provider of consumer and market intelligence, analytics and consulting services, launches gfknewron, its integrated, AI-powered software platform. Using gfknewron, companies can now access market, consumer and brand data from a single source of truth to answer questions like: What was bought where and at what price? Who bought it and why? What should I do next to grow my business? The AI-supported predictions and practical guidance will support sustainable business growth. gfknewron is an important step in GfK’s transformation from classical market researcher towards an AI-powered data analytics and consulting company.

According to analyst firm Forrester, data-driven companies grow by more than 30 percent on average annually, which is more than ten times the global GDP growth of 2.6 percent on average (2000-2020, World Bank). To make data-driven decisions, companies need immediate, reliable and accurate information on markets and consumers along with guidance on expected future developments. gfknewron uses the latest analytics capabilities to enrich accurate data with intelligence, to offer strategic decision support, planning and forecasts – all within one software platform as the single source of truth. The powerful combination of data, AI powered analytics and clear recommendations displayed in the modules ‘gfknewron Market’, ‘gfknewron Consumer’ and ‘gfknewron Predict’ gives companies a significant advantage in today’s fiercely competitive markets.

With the AI-powered software platform gfknewron, decision-makers can see an overview of their business performance using data from a single source: from the validation of new target markets over product alignment according to customers’ needs to evaluate future market potential. Multiple teams can directly access the data at any time and address cross-departmental problems using the same dataset. Scenario simulations help to identify challenges at an early stage and to plan strategically. AI-supported forecasts help with making fast, informed decisions to stay ahead of market competition.

Peter Feld, CEO of GfK, says: “At GfK, we know that to win in today’s intensely pressurized and fast-moving business environment, our clients need more than pure data. They need us to provide strategic guidance and market predictions rooted in that data. The business intelligence platform gfknewron has been designed to provide all that information on one intuitive platform that harnesses the power of artificial intelligence. We will empower our clients to adopt a much more data- and analytics-centred way of working. This is also an important milestone in the transformation of GfK from market researcher to an AI-powered data analytics and consulting company, enabled by a complete Software as a Service infrastructure.”

-Odisha Age