May 09, 2019 – LatentView Analytics, a trusted analytics partner to the world’s most recognized brands, today announced a major enhancement to its SmartInsights platform that enables consumer goods companies to accelerate the entire R&D cycle from early studies though product release. These new capabilities build upon LatentView Analytics’ market-proven, AI-powered platform that 2 of the top 5 global CPG brands use to accelerate product innovation, track competitors to protect market share, and create customer-centric marketing messages.
With the power of SmartInsights, CPG and other companies can accurately predict future consumer trends in their earliest stages, such as emerging popular ingredients for food and beverage, or health and beauty products. Companies can identify how and where a trend starts globally, predict how the trend will spread and evolve, and understand what will influence the trend’s growth. Brands can also use SmartInsights to separate future mainstream trends from ones that will fizzle – all before the trend hits the inflection point of larger industry awareness.
With its latest updates, SmartInsights provides a line of sight into all publicly published R&D materials on trending consumer product ingredients from cellular and animal studies, to review articles, to human clinical trials, to patent filings and approvals. This includes available research from academia, outsourced R&D companies, and internal R&D teams at CPG companies. SmartInsights categorizes and quantifies the completed research for key beneficial properties (e.g. antioxidant, anti-diabetic, anti-cancer) of ingredients for health, food/supplement and personal care applications.
Armed with these insights, enterprise CPG companies can go to market faster with a head start on R&D, even quickly identifying what companies own what patents for potential purchase. These insights can also help consumer goods companies prepare for a competitor’s patent approval and subsequent product launch, or to keep tabs on smaller direct-to-consumer brands that don’t have traditional R&D departments but are deeply tapped into consumer trends and have much more agile product development cycles than many legacy brands.
“We live in an on-demand economy where consumer tastes and preferences shift and evolve rapidly. To stay competitive, consumer product companies must innovate quickly and take a more agile, analytics-driven approach to R&D to bring new products to market,” said Shalabh Shalabh, Director – Midwest and CPG head at LatentView Analytics. “However, many legacy consumer brands rely on outdated processes to stay on top of consumer trends and often find competitors have secured a first mover advantage. SmartInsights solves this, and these latest updates reflect our deep vertical expertise and commitment to provide CPG companies with the granular insights needed to fast-track the R&D process from initial research to product launch.”
Key SmartInsights advantages include:
- Category Knowledge: Helps companies identify entirely new product categories
- Independent Analysis: Does not require a company to start with a hypothesis about trend predictions so results are unbiased
- Trendspotting: Enables companies to identify consumer trends that impact their categories- accelerating product innovation by 30%
- Competitors Analysis: Allows companies to detect and benchmark against new and emerging smaller competitors
- Marketplace Insights: Uncovers influences and influencers that impact consumer perception – sparking ideas for marketing tactics
- Research & Development Insights: Provides comprehensive view of R&D for trending ingredients across categories and applications
For more information or to request a demo of SmartInsights, visit https://smartinsights.latentview.com/ or firstname.lastname@example.org. To learn more about how LatentView Analytics can help you drive digital transformation and use data to gain a competitive advantage, visit https://www.latentview.com.
About LatentView Analytics
LatentView Analytics is one of the fastest growing data analytics firms globally, delivering solutions that help companies drive digital transformation and use data to gain a competitive advantage. With analytics solutions that provide 360-degree view of the digital consumer, fuel machine learning capabilities and support artificial intelligence initiatives, LatentView Analytics enables leading global brands to predict new revenue streams, anticipate product trends and popularity, improve customer retention rates, optimize investment decisions and turn unstructured data into a valuable business asset. LatentView Analytics is a trusted partner to enterprises worldwide, including more than two dozen Fortune 500 companies in the retail, CPG, financial, technology and healthcare sectors. LatentView Analytics has more than 600 employees in offices in Princeton, N.J., San Jose, Calif., London, Singapore and Chennai, India. For more information, please visit https://www.latentview.com/ or follow us on LinkedIn.