Foodspace Joins NielsenIQ's Connected Partner Network to Support Brand's Attribute Synthesis
With NielsenIQ data, Foodspace matches the individual product UPC codes and pulls granular weekly sales into their database. Once in the database, the Foodspace and NielsenIQ product information, including Foodspace's enhanced attributes, is used to create new insights with NielsenIQ CPG sales data. The combined dataset allows CPG manufacturers to compare against new classifications such as nutrition, allergen, claims, dietary, health and psychographic data. The joint solution provides a deeper understanding of the brand product characteristics based on consumer's optimal choice products.
"In a virtual endless aisle, brands only have their product data to fully represent themselves. Providing accurate, scalable product information for CPG manufacturers across their channels is essential as we move into a new digital age of a new shopper centric retail model where omni-channel consumers are expecting a consistent experience across all touchpoints. The Foodspace technology allows consumers to see the entire dimension of a product, such as taste, usability, preference, and safety, on the digital shelf in order to find their optimal choice product," says Foodspace CEO and Co-Founder, Ayo Oshinaike. "By joining the NielsenIQ Connect Partner Network, Foodspace is giving CPG manufacturers the opportunity to also enhance their sales operations and refine their analytics such as understanding their product claims against competitors. Foodspace is all about #JustGoodData which makes this all possible".
Foodspace's proprietary machine learning and vision technology provides attribute synthesis by capturing a product image and extracting the data, creating accurate product information directly from the package in a quick and efficient manner. Foodspace's digital shelf tools allow for retail syndication while providing a visualization of associated product attributes in relation to sales. Enhanced attributes, such as preparation method or allergen information, allow CPG manufacturers to better market their product content.
"We are pleased that Foodspace is now part of the NielsenIQ Connected Partner Network, another great addition to our growing list of advanced data solution providers," said Brett Jones, Global Leader, NielsenIQ Connect Partner Network. "Now enhanced by the inclusion of NielsenIQ data, Foodspace's proprietary technology will empower and bring value to the companies that we serve. Through our partnership, we are fueling a smarter market."
Since launching in 2016, the NielsenIQ Connected Partner Network has been instrumental in driving business value for more than 175 unique NielsenIQ clients by simplifying industry collaboration and providing more relevant and accurate results from partners that align to the way clients measure their business. More information: