IRI (Information Resources, Inc.) is a

data analytics Analytics is the systematic computational analysis of data or statistics. It is used for the discovery, interpretation, and communication of meaningful patterns in data. It also entails applying data patterns toward effective decision-making. It ...

and

market research Market research is an organized effort to gather information about target markets and customers: know about them, starting with who they are. It is an important component of business strategy and a major factor in maintaining competitiveness. Mar ...

company headquartered in the United States. The company provides clients with consumer, shopper, and retail market intelligence as well as analysis on

consumer packaged goods Fast-moving consumer goods (FMCG), also known as consumer packaged goods (CPG), are products that are sold quickly and at a relatively low cost. Examples include non-durable household goods such as packaged foods, beverages, toiletries, cand ...

(CPG), retail, and healthcare industries.

History

Information Resources, Incorporated (IRI) was formed in

Chicago (''City in a Garden''); I Will , image_map = , map_caption = Interactive Map of Chicago , coordinates = , coordinates_footnotes = , subdivision_type = Country , subdivision_name ...

in 1979 by market researcher John Malec and Gerald Eskin, a

University of Iowa The University of Iowa (UI, U of I, UIowa, or simply Iowa) is a public research university in Iowa City, Iowa, United States. Founded in 1847, it is the oldest and largest university in the state. The University of Iowa is organized into 12 col ...

marketing professor. The two purchased scanners for supermarkets to gather point-of-sale data based on bar codes in grocery stores that could be sold to CPG companies to track what customers purchase. In 1983, IRI became a

public company A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange ( ...

. By 1993, Fortune Magazine named IRI a "company to watch" for expanding into two of its sizeable markets: analyzing nationwide scanner data on consumer products and producing computer software. At that time, slightly more than half of IRI's revenues came from Info scan, its marketing data service. In late 2003, IRI was acquired by joint-venture cooperation between enterprise software provider

Symphony Technology Group Symphony Technology Group (STG) is an American private equity firm based in Menlo Park, California. Its Chairman and CEO is Dr. Romesh Wadhwani, who founded the firm in 2002. Investments The company has investments in the following companies: ...

and investment capital firm Tennenbaum Capital Partners. In March 2011, New York-based private equity firm New Mountain Capital bought Symphony IRI and the company announced that it was changing its name back to Information Resources Inc., or IRI. In April 2013, Symphony IRI Group, Inc. announced that it was rebranding as IRI. In January 2019, New Mountain Capital and Vestar Capital Partners (“Vestar”) announced that Vestar would lead a new investment in IRI.

Management

In February 2004, IRI named former Electronic Data Systems Corp executive Scott Klein as its president and CEO, succeeding Joe Durret. Klein served as CEO until October 2007, when he moved to IRI's parent company, Symphony Technology Group, and was succeeded by former

Salesforce.com Salesforce, Inc. is an American cloud-based software company headquartered in San Francisco, California. It provides customer relationship management (CRM) software and applications focused on sales, customer service, marketing automation, a ...

executive John Freeland. In June 2012, Symphony IRI Group, Inc. appointed former Aon COO and McKinsey & Company senior partner Andrew Appel as president and CEO to succeed John G. Freeland, who moved to an interim role as executive vice chairman. In May 2021, IRI named former

Google Google LLC () is an American Multinational corporation, multinational technology company focusing on Search Engine, search engine technology, online advertising, cloud computing, software, computer software, quantum computing, e-commerce, ar ...

executive and CPG advertising leader Kirk Perry as president and CEO, succeeding Andrew Appel, who remained in the company as an advisor and member of its Board of Directors.

Products and publications

* IRI Liquid Data (ILD) – The Liquid Data technology platform offers data management capabilities driven through hardware, software, patented algorithms, industry models, data integration, and supporting applications provided as a hosted service or as a separate infrastructure within the customer’s legacy data environment. The platform holds data in a flat or unstructured universe of points and leverages predictive automated analytics to generate information and insights to support specific decisions in minutes. * Info scan - Each week, several thousand grocery, drug, and department stores deliver the product data collected by their scanners. IRI sorts, analyzes, and verifies product price and volume, then provides final Info Scan sales information to its customers via tape, disk, or online service. * Consumer Network - A consumer panel that provides a view into consumer behavior by various household demographic groups. The platform is supplemented by a series of integrated insights, shopper, and specialty panels which are enabled through a new portable, personal collection device.

References

External links

*{{url, www.iriworldwide.com Market research Business services companies established in 1979 Companies based in Chicago 1979 establishments in Illinois