Absolutdata: ‘CPG product concepts can take weeks or months and provide mixed or inconclusive results’

By Jenny Eagle

- Last updated on GMT

Related tags Marketing Marketing research

Absolutdata works with  Perfetti.
Absolutdata works with Perfetti.
Absolutdata, whose clients include SABMiller and Perfetti, Italian confectionery and gum manufacturer, has launched a NAVIK line of automated marketing analytics tools for business managers at major global brands in CPG.

Anil Kaul, CEO, Absolutdata, told FoodProductionDaily, testing CPG product concepts can take weeks or months and provide mixed or inconclusive results but its NAVIK Converter and NAVIK Concept Test can automate and expedite the process to deliver professional quality research and get tests up and running in hours, not weeks. 

Cloud based decision support tool

We help the world’s largest companies make better decisions using data analytics and technology​,” said Kaul.

Absolutdata services include marketing and sales analytics, customer analytics, market research, digital media analytics and social media analytics​.”

Kaul said on June 1, 2015 it announced the NAVIK Concept Test into its suite of marketing analytics products and services.

We understand ‘the need of the hour‘ and have developed a suite of products that companies can use to make more informed business decisions and implement specific actions​,” he added.

The growing suite of products includes NAVIK Converter and NAVIK Concept Test, which provide marketing teams, brand managers, and P&L owners deeper insights that drive their decision making cycles​.”

NAVIK Concept Test is a cloud based decision support tool that automates concept testing for brand managers, product managers and market researchers. Step-by-step interaction guides the user through research design to produce Go/No Go results.

Users can test more ideas in less time and make better decisions when evaluating potential product, packaging, pricing and promotional ideas.

“Freemium” business model

NAVIK Converter is designed for companies that run on a “freemium” business model and for companies that offer Free Trials, who depend on converting their free customers to paid subscribers.

The world of analytics has changed significantly in the past few years. Decision-makers want analytics to provide not only insights but actionable business recommendations and they want them at their own convenience and in a form that is easy to consume​,” said Kaul.

The recent explosion in the volume and type of data enabled by technologies such as mobile computing, social media, sensor-based technologies etc. has only aggravated these challenges​.

We decided to create products based on standardized and repeatable analytics services. Products can lead to true democratization of the analytics as business users don’t have to depend on their analytics partners/vendors to churn the analysis and can access the ‘analytics’ whenever they want it and how they want it​.”

According to Kaul,most organizations have started infusing some element of analytics in their daily decision making.

How we use technology to enhance the impact of data and analytics in an organization is the big game changer​,” he added.

It will fundamentally change how managers and executives make decisions and the impact these decisions have on company results​.”  

He said the biggest trends affect the firm and its clients are Big Data, IoT (Internet of Things), social media analytics, and the automation of sophisticated analytics practices - all of which require advanced analytics.

Company expansion

As such, the company will expand three parts of the business for clients: the NAVIK line of automated marketing analytics tools; Big Data / IoT services; and the social media analytics business.

These are high growth areas for our clients​,” he said.

The emerging markets are at a very nascent stage. They have unstructured data capturing and measurement processes, thus they need analytics thought partners who can help them embed a data driven decision making culture​.   

The Middle East in particular is a key market where we have a local office in Dubai and many big names being currently supported in their analytics journey. Similarly, for China. We have a steady client base in South America as well where we are supporting several leading names​.”

Absolutdata has more than 450 employees and is headquartered in San Francisco, US, with delivery centers in Gurgaon and Bangalore, India.

Its presence extends to 17 cities across seven countries, with work executed across the US, EU, APAC, LATAM and MEA.  

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