Analyzing IRI data can provide marketing insights that can lead to better tactical and strategic decision-making. However, for persons working with IRI data, it can be complex, confusing and challenging. That’s why Applied consults regularly with clients on IRI data and is often called upon to analyze quarterly data for brands and products.
A client uses our analysis to describe what is going on in the market. For example, is a particular product category in decline or is it growing? Within a product category, are certain brands experiencing faster drops or increases in market share than others? What about by channel? Are Walmart’s sales in a given category growing faster than other channels?
Other questions are more strategic. Should a client attempt to spend money to increase awareness and trial in a given category? And what if the product category is trendy? How does that affect budgeting to increase awareness and trial? While we leave those questions to the client, the client is able to make more informed decisions based on our analysis.