Overview
Machine Learning and Artificial Intelligence are buzzing over the last few years. While many brands actively discuss using cutting edge data science algorithms, VitaFusion has established itself as a leader in the space by actively using Artificial Intelligence to improve its new product development.
Over the last three years, VitaFusion, the #1 Adult Gummy Vitamin Brand, has worked with Simporter AI to actively predict unmet consumer needs that are growing in the marketplace. Furthermore, the brand uses Simporter’s data to identify white space opportunities around ingredient and sensory attribute innovations.
“Simporter is able to connect all of the dots for us. Their methodology allows us to feel confident in consumer research. And they turn directional info into clear action steps.”
– Mark Innace, Global Innovation & Commercialization, Group Lead at Church & Dwight
Challenge
Most consumer brands in 2022 experience data overload. Suppliers and vendors are shooting out data on virtually every possible consumer interaction. Social listening tools granularly identify the number of Tweets or Hashtags around ingredients and tools like Google Trends let you capture what people are looking for on search engines.
With so much data, often it is hard to pick out which data points to act on and which to consider noise. Data overload makes brand performance even more difficult, without a clear story, can slow down and even reduce the success rate of new product launches.
“There are dozens of trend tools out there. The problem is no longer about collecting enough data. Now, it’s about making that collected data meaningful and actionable. That’s why our company considers User Experience to be among the most important values when we develop our AI tools.”
– Dillon Hall, CEO Simporter
Solution
Simporter’s White Space AI tool recommends the appropriate attributes to include in new product development for VitaFusion. Using the tool, the VitaFusion innovation team is able to quickly and easily decipher the best ingredients, sensory attributes, and need states to go over.
The AI tool uses Machine Learning algorithms to process millions of datapoints from customer reviews, social media, and search traffic – and output single key performance indicators such as an indexed demand score, competition score, and passion score. These KPIs make it easy to act on Big Data, which empowers the VitaFusion innovation team to launch new products in less time and with more confidence.
Conclusion
The most important role of Artificial Intelligence in new product development is no longer purely exploratory insights. Today, declaratory insights—predictive analytics that recommend opportunities to act on—empower brands like VitaFusion to develop more successful new products.
If you want to learn more about Simporter’s White Space AI tool, you can get in touch by signing up for a demo here.