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Fast-moving consumer goods: data and decisions

Research & Development@RB

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Research and Development

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Market insights

What new products do consumers want?

New sources of data – social media, Big Data

Challenges: How to extract commercial value, i.e. make informed evidence-based decisions, => more data can just mean a lot more noise! How can “new” IT/analytics help here?

Product insights

What do consumers like about a specific new prototype product?

Making decisions based on small amounts of very product-specific data Challenges: How can we assess whether inferences made from the data are “robust”?

Can elicitation tools be standardised to enable inferences across multiple products? i.e. address robustness and get extract max. value from data

Insight HarvestingFast-moving consumer goods: data and decisions

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Market insights

What new products do consumers want?

New sources of data – social media, Big Data

Challenges: How to extract commercial value, i.e. make informed evidence-based decisions, => more data can just mean a lot more noise! How can “new” IT/analytics help here?

Product insights

What do consumers like about a specific new test product?

Making decisions based on small amounts of very product-specific data Challenges: How can we assess whether inferences made from the data are “robust”?

Can elicitation tools be standardised to enable inferences across multiple products? To address robustness and get extract max. value from data

Insight HarvestingFast-moving consumer goods: data and decisions

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Fast-moving consumer goods: data and decisionsProduct Claims

We want a consumer to choose our products over a competitor’s product

This is achieved through product differentiation

We make claims about a product, e.g. Lasts up to 2x longer than antacids

A CLAIM REQUIRES SCIENTIFIC DATAe.g.

• Laboratory experiment• Clinical trial• Consumer study• Review of scientific literature

And crucially…

DATA from the consumer

Any claim must resonate strongly with the consumer regardless of science

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Fast-moving consumer goods: data and decisionsProduct Claims

Determining a claim is a complex decision process as it needs to be: i) backed by science

AND

ii) of direct appeal to the consumer and credible to the consumer

AND

iii) acceptable to relevant competent authority in each individual country [if applicable]

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Fast-moving consumer goods: data and decisionsProduct Claims

What claims are acceptable to a competent authority vary:

• from market to market e.g. China, US, Russia, Germany, India, UK

• By product type, e.g.Nurofen Pain KillersFinish Dish Washer TabletsDurex Condoms, Repelex Mosquito repellentClearasil face creamAir Wick freshenerSchiff MegaRed vitamins

Broad classes include:Medical products [pharmaceuticals]Medical devicesGeneral productsCosmeticsInsecticidesVitamins and minerals

Some areas are highly regulated, others less so, e.g. Pharmaceuticals v Vitamins

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Fast-moving consumer goods: data and decisionsSummary

• Given a few examples of how data is used at RB

(many other examples e.g. developing manufacturing processes, commercial analytics)

• R&D at RB is science-led

• DATA-based decisions are central to our business

• Complex mix of different data sources and types of decisions