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Nielsen partners EDB to set up Asia innovation hub in Singapore
GLOBAL information company Nielsen on Tuesday said it has partnered the Singapore Economic Development Board (EDB) to launch a new Singapore-based innovation hub, the Asia Innovation Centre, which will be a model of its US-based Innovation Lab, a collaboration with Stanford Graduate School of Business.
It will drive innovation in research and measurement techniques to address the unique and evolving insights and information needs of organisations operating in Asia.
Nielsen has committed to an initial investment of S$14 million over five years, hiring some 30 employees with expertise in research and data science, partnering universities in Asia, as well as Singapore-based startups and business associations.
Meanwhile, various innovation projects have been identified for Nielsen and its collaborators, including:
- A card measurement platform tailored for the financial services sector in the Asia-Pacific to promote greater market efficiencies and increased consumer engagement and loyalty;
- A first-of-its-kind e-commerce retail sales measurement platform to capture and report on the volume and value of online sales transactions; and
- A retail distribution modelling service which leverages geo-satellite technology to assist with product distribution and route-to-market strategies.
"South-east Asia is a key growth engine in the coming years for many of our clients here in Asia and around the world, and with rapidly evolving digital behaviour across the region, there is growing demand for insights into the lifestyles, habits and purchasing behaviours of Asian consumers," said Cheong Tai Leung, president of Nielsen's South-east Asia, North Asia and Pacific operations.
He added: "It's no coincidence that we have chosen Singapore as the location for the Nielsen Innovation Centre ... it is the globally recognised hub of South-east Asia with highly skilled talent, world-class infrastructure and a strong underlying commitment to innovation."