Monday, June, 24, 2024 09:17:57

GfK, Germany’s largest market research company, and SymphonyAI (SAI), a group of leading AI solution providers, have reportedly partnered for a joint venture (JV) that will be recognized as MRI-Simmons. Reportedly, GfK will combine its MRI division with SAI’s Simmons Research for the joint venture, with Anna Welch, MRI’s current MD, leading the JV and Mike Drankwalter leading the sales for the new entity.

The two leading companies providing consumer intelligence and syndicated media research would supposedly look to integrate their expertise in media profiling, consumer insights and trends, aiming to direct more investment towards advancing digital research and innovation for their clients.

Citing reliable sources, the new JV, in which GFK is the majority partner, is expected to offer the best of research & technology to media, agency and advertiser clients, further providing them with strong strategic partnerships, highest-quality data, easy-to-use and insightful visual reporting and highly innovative digital platforms.

The latest move is in line with GfK’s clear-cut vision to leverage unique and strong data assets and enhance them with relevant data science and both prescriptive and descriptive analytics, sources added.

Gregg Linder, GfK’s (North America) President & Chairman of the new entity, said the new JV provides a robust talent base focusing more resources on various product areas, right from expanding and improving the current products to developing new ones much faster, ultimately serving clients’ needs for new products and services.

According to John Ouren, Chairman of Simmons and the new JV’s board member, MRI in conjunction with Simmons provide a scale that cannot exist when operating as separate businesses. Subsequently, clients would benefit from having better access to technology and a brilliant range of solutions for smarter as well as faster decision-making, in the presence of stronger data and services.

For the record, MRI collects in-depth information about consumer media choices and consumption of products and services in about 600 categories, through more than 24,000 in-person interviews taken every year.