Finding, organising, analysing and connecting with the most relevant data providers will boost growth and profit for leading global corporations in the coming years.
Challenges Neudata can help you solve
How do we find the most relevant firms first while avoiding common pitfalls?
Rapidly Evolving Landscape
How can we review and vet providers efficiently and effectively when new vendors seemingly appear daily?
How can we cut down on endless supplier meetings and reduce the internal strain placed on our procurement teams?
How do we do more with less and make sure we are achieving the greatest possible efficiencies?
What's included in your Neudata Scout subscription?
Access to the Neudata Scout platform which lists dataset reports from thousands of vendors, with 40-60 new or updated reports added monthly. It also includes idea-generating Intelligence reports, academic research and industry news reporting.
Ability to ask bespoke research questions to our team of data scouts and analysts, who will prepare a deep-dive report on the vendors and datasets you should be considering and their relative strengths and weaknesses.
Push notifications on the specific dataset and vendor updates you care most about, which allow you to monitor firms for risks and opportunities.
Mergers And Acquisitions
A diversified consumer products firm used external data sources to expand into new markets. The company used a combination of its own internal data on product sales with external data from supply-chain data providers to identify new market segments to size and define the market opportunity.
This data-driven approach resulted in a number of partnerships and acquisitions, which helped drive the firm’s future growth.
As a result of flat-to-declining growth in recent quarters, a legacy CPG firm employed external data learnings to attract a younger, more affluent consumer base for its flagship product.
Its market research team first employed a social media sentiment data provider to understand how younger consumers currently thought about its product. At the same time, it worked with a transactional data vendor to understand how that demographic was spending its disposable income and which of its competitors were most popular among the group.
Based on the insights provided by external data vendors, the firm rebranded the flagship product and was able to increase its market share by 17% in the first six months after the new launch.
A large CPG firm suddenly began suffering from an exceptionally high turnover rate within its media department, increasing hiring and training costs by 70%. Its human resources department engaged data vendors focused on collecting human capital data, job posting/salary data and employee sentiment data to try to identify deficiencies in its own process, as well as to understand industry-wide trends. After looking at the data, the firm realised its salary bands were 15-20% below market and worked to rectify the situation with the top 10% of high-performing flight risks.
It also gained a deeper understanding of HR and benefits policies at competing firms that were attracting employees, and realised its own staff was unaware of the corporate benefits it already offered, so it rolled out a communications plan around benefits to employees.
As a result, employee retention rose to almost 92% and employees reported higher levels of satisfaction across all seniority levels in their next performance reviews.
It also gained a deeper understanding of HR and benefits policies at competing firms that were attracting employees, and realised its own staff was unaware of the corporate benefits it already offered, so it rolled out a communications plan around benefits to employees. As a result, employee retention rose to almost 92% and employees reported higher levels of satisfaction across all seniority levels in their next performance reviews.
A firm’s senior management team reached out to its data analytics team with a basic, but mission-critical need. The volume of product development and acquisition diligence was rising, yet the firm’s internal capability to quickly identify relevant new data sources – often in industries outside its historical expertise – was increasingly challenged.
The firm needed to know that it was engaging quality firms that were free of reputational risk. It also worried the team was missing out on data vendors that were unknown.
Because it was a large multinational corporation, its bets had financial implications that ranged from 10s to 100s of millions of dollars – it therefore needed to mitigate risk while increasing the likelihood of positive outcomes.
Neudata partnered with the internal client teams to provide on-demand insight and a pathway to new and highly specific data providers. Neudata also provided the data analytics team with a complete scan of its current providers, which helped it develop a complete view of the relevant market opportunities.
A leading CPG firm had an overstretched centralised procurement function. In some cases, individual business units would initiate data provider relationships on their own. In other cases, procurement was tasked with the evaluation process, working in collaboration with the business unit. Unfortunately, the process was more ad hoc than systematic and, as a result, often resulted in less-than-ideal outcomes while being very time intensive.
Neudata partnered with both the business units and the procurement department to increase speed, efficiency and transparency around data provider capabilities.
This effort resulted in a notable reduction in time spent on vendor evaluation, new wins (in terms of successful new data sources that were onboarded) and the avoidance of missed opportunities, which frequently happened when unsuccessful vendor partners were selected.
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