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New Products Magazine
"There are 30,000 to 50,000 items in a typical grocery store, "says Thom Blischok, president of global retail solutions and strategic consulting for Information Resources, Inc., Chicago. "A pantry has 700 items. We're forcing customers to navigate around mechandise that's irrelevant."
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The Mature Market
Baby boomers represent a potential $46 billion opportunity as well as a challenge for today’s retailers, according to a new report, “The IRI Baby Boomers Report: Understanding the Emerging Trends in Baby Boomer Spending” from Information Resources, Inc. (IRI), the leading global provider of enterprise market information solutions. At approximately 78 million people, baby boomers are one of the largest buying groups in America. The new report closely analyzes this important consumer segment and uncovers new insights that empower retail and manufacturing executives to understand, benchmark and predict baby boomer shopping trends.
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Information Week
Data quality is important to any business. But when data is your business, as it is for database marketers, it has to be squeaky clean. Information Resources Inc. has 170 terabytes of data, the majority of it point-of-sale information collected from 40,000 grocery, drug, and convenience stores--600 million records every week--on what packaged goods and health care products consumers are buying.
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Research Business Report
Sunil Garga, President of Information Resource Inc.’s (Chicago, IL) Analytics Insights Group, is bullish about the analytic portion of the MR function. He says it’s not just coming of age, but “red hot” and begging for the kind of corporate investment that can help deliver on its wealth of potential.
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Research Conference Report
Scott Klein, President & CEO, Information Resources, Inc. (Chicago, IL), began with an alarming statistic: only 20% of CPG products achieve $7.5 million in revenue in their first year. “Real-time innovation is based on forward-looking consumer understanding, implemented with fast, agile new product management, executed with compelling and ongoing store-level retail performance management,” he stated. Underscoring his point, Klein mentioned.
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Research Conference Report
Romesh Wadhwani, Chairman of Information Resources, Inc. (Chicago, IL), specified his “future trends” are only one to three years out. “So, it’s a future for which there is
time to act and achieve benefit, not an interesting intellectual exercise without actionability,” he stated. “We’ve invested $400 million in the innovations that can make my five predictions come true.”
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Refrigerated & Frozen Foods
Yes, it's a big chess game. Do you move some of those yogurts or ice creams off the board? What if you just chop the bottom 20% of SKUs? Why are you really stocking all those items?
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NRF Stores
Collaboration between the largest wholesale club operator in the United States and a leading provider of enterprise market information solutions and services has produced a new information mnagement service that promises to help Costco and many of its key suppliers improve their business performance.
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Research Business Report
Sunil (Sunny) Garga, President, Global Services Group, Information Resources, Inc. (Chicago, IL): The traditional marketing model is broken. Fundamental changes are required to win the ROI and effectiveness game.
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Smart Business Magazine
"Call me Scott." When the CEO of a company with global revenue of more than $570 million kicks off an interview like that, it's a good indication that he is an unpretentious person who doesn't stand on ceremony. As president and CEO of Information Resources, Inc., a provider of market dta, consumer intelligence and management solutions for the consumer packaged goods, retail and health care industries, Scott Klein is a man of some influence and responsibility.
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Research Conference Report
Dr. Romesh Wadhwani, Chairman of Symphony Technology Group (Palo Alto, CA), threw more than $100 million of capital into Information Resources, Inc. (Chicago, IL) when he bought the business in December 2003. He then understandably focused many of his personal and professional resources against a goal of constructing a highly prosperous future for IRI.
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