Nielsen Launches Rapid Innovation Tools To Market
Responding to these challenges, Nielsen today announced the newest addition to their innovation analytics arsenal, Concept Quick Predict. This solution lets marketers test innovations up to 3x faster than traditional methods, but without sacrificing confidence in the data.
Powered by Nielsen Factors for Success, an innovation evaluation system that is validated to be predictive of in-market performance, Concept Quick Predict allows marketers to get the most reliable evaluation of their innovation. In fact, innovations that score "Ready" or better on Nielsen Factors for Success are 5x more likely to succeed in market when compared with industry average success rates. Through software automation, Concept Quick Predict speeds up Nielsen's predictive analytics, equipping marketers with high-quality insights and quick answers in a matter of days.
Nielsen data shows that increased collaboration can help double consumer appeal for innovation concepts. With the launch of Concept Quick Predict, marketers can also benefit from complimentary access to
Feedback from Concept Quick Predicts' early users has been resoundingly positive.
Derron Wrubel, Consumer & Marketplace Insights Innovation Consultant, Nestl?
"The innovation process is under great pressure, with teams being asked to launch innovations on faster timelines than ever before. At the same time, teams need to be confident the ideas they are launching will succeed," said
Joe Stagaman, Global Product Leader, Nielsen Innovation Practice. "The launch of Concept Quick Predict marks a new milestone for fast innovation tools, allowing marketers to test innovations at a rapid pace without sacrificing the predictive reliability and data quality they need to make effective innovation decisions. In essence, it offers 'speed without compromise,' a concept that should be the new gold standard for the industry."
Nielsen's Concept Quick Predict tool is available now in the U.S. and most of
 2015 Nielsen State of Concept Testing survey of 200 CPG marketers.