It’s fascinating how data, often seen as cold and numerical, can actually tell incredibly rich stories about us – how we shop, what we buy, and why.
For those in the know, Numerator, a Chicago-based company, has been a quiet powerhouse in this realm. They’ve been instrumental in helping businesses understand the intricate dance of consumer behavior. Think about it: what makes someone choose one brand over another? What prompts a sudden shift in shopping habits? These aren't just abstract questions; they're the bread and butter of companies trying to connect with us.
What’s particularly interesting is Numerator's recent evolution. They’ve joined forces with Kantar’s Worldpanel division, creating a new global entity. This isn't just a minor merger; it's a significant move that combines Numerator's strong North American first-party consumer data and tech with Worldpanel's established presence in nearly 50 countries outside North America. The result? A formidable global consumer data company.
This union is particularly timely. In an era where privacy and data sovereignty are paramount, companies are increasingly prioritizing first-party data – the information collected directly from consumers. Numerator has always been committed to this, and their combined strength now offers verified first-party data representing close to five billion consumers worldwide. That’s a staggering amount of insight.
It’s also worth noting the company's roots and how they’ve grown. Numerator, under the leadership of CEO Eric Belcher, has a unique connection to the University of Chicago. Belcher himself is an alumnus, and the company partners with Booth School of Business, allowing academics and students to delve into their extensive data sets for research. This symbiotic relationship seems to foster a deeper understanding of data's potential, not just for business but for academic exploration too.
The foundation of Numerator's data often comes from sources like the Receipt Hog app. It’s a clever approach: users upload their shopping receipts, share insights about their purchases, and can even link their online accounts. In return, they receive rewards. This method, leveraging the ubiquitous smartphone, allows Numerator to capture a significant portion of consumer shopping trips, providing clients with the granular details they need to answer those fundamental questions about consumer behavior.
From helping top FMCG manufacturers and retailers understand shopper patterns to answering why consumers switch brands, Numerator, now a global player with deep Chicago ties, is at the forefront of deciphering the stories hidden within our everyday purchases.