Gfk has launched integrated and AI-powered software platform gfknewron. With this new platform, companies will be now able to access market, consumer and brand data from a single source, the company said in a statement. In addition, The AI-supported predictions and practical guidance will support sustainable business growth. This new launch comes as an important move for GfK’s transformation from classical market researcher towards an AI-powered data analytics and consulting company, the statement added.

While the new platform enables decision-makers to see an overview of their business performance using data from a single source, multiple teams can directly access the data at any time and address cross- departmental problems using the same dataset. Moreover, challenges can be identified at early stage with scenario simulation, eventually that will help to plan strategically. Fast and informed decisions can be taken with help of AI-supported forecasts to stay ahead of market competition, the company said.

“At GfK, we know that to win in today’s intensely pressurised and fast-moving business environment, our clients need more than pure data. They need us to provide strategic guidance and market predictions rooted in that data. The business intelligence platform gfknewron has been designed to provide all that information on one intuitive platform that harnesses the power of artificial intelligence,” Peter Feld, CEO, GfK, said.

“We will empower our clients to adopt a much more data- and analytics-centred way of working. This is also an important milestone in the transformation of GfK from market researcher to an AI-powered data analytics and consulting company, enabled by a complete software as a service infrastructure,” Feld added.

The three modules of gfknewron include gfknewron Market, gfknewron Consumer and gfknewron Predict. While gfknewron Market allows clients to use real transaction data to measure the performance of their product portfolio against market benchmarks, gfknewron Consumer helps to analyse target groups in detail. With AI-based forecasts of gfknewron Predict, companies can simulate market scenarios and estimate their impact on businesses.

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