Periscope™, a McKinsey Solution, focusing on price, promotion and assortment optimization, today announced that it was included in Forrester Research, Inc.’s “Reinvent Product Innovation To Revive Your Brand” report, by George Lawrie, published on January 29, 2016. Aimed at Application Design & Development (AD&D) professionals, the report provides insights on how they should be using big data insight and applications to support the essential product innovation for retailers and consumer brands. Forrester states that PLM always used to be product-focused, but modern applications put customer insight at the heart of the PLM process. In addition to the guidelines offered, Forrester also includes map market characteristics to drive compelling product innovation.
The report notes, “Brands use platforms like Periscope, a McKinsey Solution, to understand category performance and consumer brand loyalty in online channels like Amazon and retailers’ direct eCommerce sites. They feed this insight in the form of specifications to PLM to deliver winning new product introductions. Sophisticated applications combine basket and sentiment data to identify the best opportunities for new products.”
When it comes to deploying the right applications and platforms to support accelerated innovation, the report highlights that smart AD&D professionals look for “…critical customer insight from platforms like Periscope, a McKinsey Solution, to deliver blockbuster brands and retail bestsellers.”
“I believe that being included in this report further ratifies the integral role that Periscope plays in enabling consumer brands and retailers to transform their businesses,” said Brian Elliott, CEO of Periscope. “As the market becomes ever more competitive, our mission is to continue to enhance our clients’ ability to garner sustainable improvements in their product innovation to achieve better results through offering competitive products, prices, promotions and assortments.”
