Estée Lauder Companies has unlocked 80 years of consumer data in a new AI ecosystem called ConsumerIQ, developed in partnership with Microsoft. This innovative tool allows employees to easily access insights from data collected through surveys, clinical trials, and product usage across its 25 brands in 150 countries. By consolidating this information, ConsumerIQ streamlines research and helps teams identify trends, create Marketing assets, and bring products to Market faster. With the ability to use natural language prompts, employees can efficiently find the information they need, enhancing productivity and fostering growth within the company. For more insights on their AI-driven approach, check out the details from last year’s Consumer Goods Summit.
The Estée Lauder Companies Embraces AI for Consumer Insights
In a significant move towards innovation, Estée Lauder has released an AI agent called ConsumerIQ that utilizes 80 years of consumer data. This data includes surveys, clinical trials, and product usage, all made accessible within a generative AI framework. The beauty giant aims to enhance its operations by making data retrieval quicker and more efficient.
With the help of Microsoft’s Copilot Studio, Estée Lauder is working to improve its research and development processes. This partnership follows the opening of an AI innovation lab last year, designed to boost the company’s digital transformation. ConsumerIQ allows the company’s employees to instantly access valuable insights, helping them spot trends, develop Marketing materials, and speed up product launches.
The Advantages of ConsumerIQ
Estée Lauder’s new AI tool consolidates data across its 25 brands and global operations. Previously scattered data is now stored in one location, enabling faster access to important information. Employees can use simple language prompts to ask ConsumerIQ various questions, making it easier to get the insights they need without manual research.
This move not only enhances productivity but also fosters a culture of innovation within the company. Through the use of AI, Estée Lauder is adapting to ever-changing Market demands and ensuring its teams are equipped to drive growth.
For more insights on Estée Lauder’s approach to integrating AI into their operations, click here for a deep dive into their ongoing strategies.
Tags: Estée Lauder, AI, ConsumerIQ, Microsoft, Innovation, Beauty Industry, Data Analytics
What is Estée Lauder’s AI Agent ConsumerIQ?
Estée Lauder’s AI Agent ConsumerIQ is a smart technology they use to gather and analyze customer data. It helps the company understand what customers want and need, making their research and development efforts more efficient.
How does ConsumerIQ help with data consolidation?
ConsumerIQ combines information from various sources, like social media, customer feedback, and sales data. This way, Estée Lauder gets a clear, complete picture of customer preferences in one place.
Why is streamlining R&D important for Estée Lauder?
Streamlining research and development helps Estée Lauder create new products faster and better. By understanding customer trends and needs, they can innovate and launch products that truly resonate with their audience.
Can consumers see the benefits of ConsumerIQ?
Yes! Customers benefit through improved products that fit their needs and desires. By analyzing feedback, Estée Lauder can make better choices, leading to higher quality and more personalized offerings.
Is ConsumerIQ used only for product development?
No, while product development is a big part, ConsumerIQ also supports Marketing and customer service. It helps Estée Lauder connect more effectively with customers and build stronger relationships by addressing their needs.