IDS Case Study: Supporting Product Development Through Predictive Modeling

By Keiter CPAs

IDS Case Study: Supporting Product Development Through Predictive Modeling

How Can I Speed Up Product Development Testing?

Data Science can help you achieve your business goals with tailored advice specific to your organization. Learn more about how Keiter Data Solutions solved a similar problem for one of our clients in the below case study.

 

Challenge and Opportunity

A large consumer goods company wanted to develop a model that could support its product development efforts.

 

Approach

  • Product development is an extremely time-consuming process requiring millions of dollars’ worth of investments.
  • The client wanted to develop a new predictive model which could analyze data to see which flavors and blends would be well received in the market.

Results

The predictive model was successfully able to create positive outcomes saving the client upwards of $400,000 per testing group.

 

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About the Author


Keiter CPAs

Keiter CPAs

Keiter CPAs is a certified public accounting firm serving the audittax, accounting and consulting needs of businesses and their owners located in Richmond and across Virginia. We focus on serving emerging growth businesses and companies in the financial servicesconstructionreal estatemanufacturingretail & distribution industries and nonprofits. We also provide business valuations and forensic accounting servicesfamily office services, and inbound international services.

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The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.

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