3M Opens Data Science and Merchandising Laboratory at Global Headquarters; Scientific Approach Helps Retailers and Consumers
ST. PAUL, Minn.--(BUSINESS WIRE)--Feb 26, 2019--3M is known for applying science to address challenges for its customers and to help make peoples’ lives better. For retail customers of its Consumer Business Group, the omnichannel retail environment, along with acceleration of digital marketing and demand generation provide 3M the opportunity to take a highly data-driven approach to this changing retail landscape. Today’s opening of a new Consumer Data Science and Merchandising Laboratory at its global headquarters in St. Paul, Minn., will accelerate these efforts.
The new state-of-the-art facility integrates data science, retail analytics, marketing and merchandising in one space. These capabilities foster innovation by making it faster and more agile to develop marketing strategies, helping 3M customers make better business decisions for shoppers, whether they are buying online or in a physical store.
“This lab is all about our customers and consumers, who are at the core of everything we do,” said Joaquin Delgado, executive vice president, 3M Consumer Business Group. “The array of solutions and innovation made possible here is unlike any other in the industry. We are applying artificial intelligence and machine learning in the retail landscape to create a better customer and consumer experience.”
The strategic intent behind this lab is to transform how 3M businesses operate and uncover actionable insights for its retail partners. To accomplish this, three distinct yet complementary spaces were created in the Data Science & Merchandising Lab: Data Science and Analytics; Visualization; and Retail.
In the Data Science Lab, the 3M team employs science to uncover and apply insights in innovative ways to develop proprietary machine learning and artificial intelligence algorithms, which are used to optimize how 3M goes to market. This science increases predictability and the impact of demand generation programs, which in turn accelerates point of sale (POS). The Visualization Lab offers a collaborative space to further explore the analytics that underlie those strategies and recommendations. The Retail Lab inspires evaluation and testing of packaging and merchandising in an actual, physical space. The lab offers customers the opportunity to create stronger engagement by learning from and building on input and insights from their shoppers.
“We know that when our customers win, we win,” said Paul Keel, senior vice president, 3M Business Development and Marketing-Sales. “Collaboration is a key part of our brand, and we believe the Data Science and Merchandising Lab will drive even stronger partnerships with retailers as we learn and innovate together.”
The 3M Consumer Business Group develops, manufactures and markets a wide variety of products to make life better at home and at work under flagship brands including Post-it, Scotch, Command, and Filtrete.
At 3M, we apply science in collaborative ways to improve lives daily. With $33 billion in sales, our 93,000 employees connect with customers all around the world. Learn more about 3M’s creative solutions to the world’s problems at www.3M.com or on Twitter @3M or @3MNews.
3M, Post-it, Scotch, Command and Filtrete are trademarks of 3M.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190226005260/en/
CONTACT: Media Contact:
Donna Fleming Runyon, 3M
KEYWORD: UNITED STATES NORTH AMERICA MINNESOTA
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE RETAIL COMMUNICATIONS MARKETING OTHER RETAIL
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PUB: 02/26/2019 05:00 PM/DISC: 02/26/2019 05:01 PM