New AI technology being rolled out by data science company Quantium is promising to deliver quicker and more relevant consumer data to FMCG businesses.
Quantium have said the new AI insights platform will automate scan data – such as what customer purchase, when and what they pay, which previously had to be manually interpreted by insights teams.
Adding that by harnessing the technology’s capabilities to hold ‘trillions’ of data points, data that once took days to interpret could now be analysed in minutes. And in great news for businesses, the platform alters uses to market changes, rather than leaving this to businesses to self manage.
Quantium executive for FMCG Karl Miklis described it as ‘game changing’ technology.
“Consumers increasingly expect hyper-personalised and super-convenient experiences. Their expectations have been raised by data-driven disruptors across various industries that engage consumers as individuals, not demographics or segments. They will quickly shift brands if the right stock is not available in store or a product’s price is not competitive,” Mr Miklis said.
Quantium is currently offering the technology to selected customers, with a wider rollout expected next year.