You need a new strategy for food innovation Using data to de-risk decisions. Sara Olson, Ph.D. Senior Analyst

Transcription

1 You need a new strategy for food innovation Using data to de-risk decisions Sara Olson, Ph.D. Senior Analyst

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5 Food innovation today is stressful.

6 Food innovation today is stressful. The data you rely on now are: Lagging indicators Qualitative Fragmented 6

7 This is a data problem.

8 8 How do you solve this data problem?

9 How do you solve this data problem? Better data: Leading indicators More quantitative data Centralized mechanism to derive insights from data 9

10 10 Trend and market data are too little, too late Lagging indicators can lead you astray

11 11 Trend and market data are too little, too late Lagging indicators can lead you astray

12 12 Trend and market data are too little, too late Lagging indicators can lead you astray

13 13 Focus group data are qualitative and not comprehensive

14 14 Focus group data are qualitative and not comprehensive

15 Focus group data are qualitative and not comprehensive This compostable packaging makes me feel better about buying Sun Chips over other chip brands. Sure, it s crinkly, but I m an environmentally conscious consumer, so I ll tolerate a louder bag if it s green. 15

16 16 Focus group data are qualitative and not comprehensive

17 17 With decentralized data, how do you work efficiently?

18 18 With decentralized data, how do you work efficiently?

19 With decentralized data, how do you work efficiently? We need sugar reduction! Sure, we took out half the sugar and used sucralose instead! Hmm the product isn t fluffy anymore. Can you just take out the calories? Our closest competitor is using stevia. Use that so we can call it natural. 19

20 With decentralized data, how do you work efficiently? We need sugar reduction! Sure, we took out half the sugar and used sucralose instead! Hmm the product isn t fluffy anymore. Can you just take out the calories? Our closest competitor is using stevia. Use that so we can call it natural. 20 Okay we used a synbio derived stevia and added dextrose for fluff. Perfect! Hey, how do we want the new label to look since we can t say No GMOs anymore? Whoa, whoa, whoa! Who said anything about GMOs? Start over!!

21 This is a data problem.

22 Real progress will take an integrated approach Get comfortable with Ingredient Informatics 22

23 Applying learnings from other industries Materials Informatics Rapidly accelerating the process of R&D Applying data science and artificial intelligence methods to materials science and engineering to better understand the use, selection, development, and discovery of materials. 23

24 Ingredient Informatics as an innovation strategy Quantitative data Centralized data platform Mining existing portfolio 24

25 Quantitative data Centralized data platform Mining existing portfolio 25

26 Sensory experts and panels are expensive and problematic quantitative measurements are critical for a simpler process 26 Source: New York Times Article

27 Sensory experts and panels are expensive and problematic quantitative measurements are critical for a simpler process 27 Source: New York Times Article

28 Learning from Materials Informatics Material Materials Informatics Product Process 28

29 Think of the ingredients in your portfolio as materials Material Ingredient Materials Informatics Ingredient Informatics Product Process Product Process 29

30 Quantitative data Centralized data platform Mining existing portfolio 30

31 31 Centralizing your data

32 32 Centralizing your data

33 Centralizing your data Supply chain blockchain data Strategic marketing imperatives Quantitative sensory data Central data platform Regulatory compliance data Quantitative technofunctional ingredient data Packaging data 33

34 Quantitative data Centralized data platform Mining existing portfolio 34

35 Mining a robust data library drives incredible value Supply chain blockchain data Strategic marketing imperatives Quantitative sensory data Central data platform Regulatory compliance data Quantitative technofunctional ingredient data Packaging data 35

36 Mining a robust data library drives incredible value Supply chain blockchain data Strategic marketing imperatives Quantitative sensory data Central data platform Regulatory compliance data Quantitative technofunctional ingredient data Packaging data 36

37 Mining a robust data library drives incredible value Quantitative sensory data Supply chain blockchain data Strategic marketing imperatives Central data platform Regulatory compliance data Quantitative technofunctional ingredient data Packaging data vs. 37

38 This is a data problem.

39 39 Chef Watson centralizes data and extracts recipes

40 40 NotCo uses quantitative ingredient data and AI to reformulate familiar products

41 This is a data problem.

42 How to start making it better Applying the Lux approach to free-from food innovation 42

43 43 Start by finding leading indicators

44 Start by finding leading indicators SUGAR REDUCTION TECH SIGNAL SWEETENER TECHNOLOGY TECH SIGNALS 44

45 45 Add expert insight

46 Add expert insight Alternative sweeteners don t stack up to sucrose; look to blend replacements Sugar composite score, for comparison 46

47 Add expert insight Alternative sweeteners don t stack up to sucrose; look to blend replacements Sugar composite score, for comparison 47

48 48 How would I find the who? Use a data-centric approach to evaluate developers capabilities

49 Use a data-centric approach to evaluate developers capabilities Sweetener-related technologies can compensate for alternative sweetener shortcomings Lux Innovation Grid for sweetener developers Stevia developers span segments 49

50 Use a data-centric approach to evaluate developers capabilities Sweetener-related technologies can compensate for alternative sweetener shortcomings Lux Innovation Grid for sweetener developers Stevia developers span segments DouxMatok 50

51 Putting it all together What? Who? How? Technologies to prioritize: Lux Tech Signal Patents Funding Who to work with: Partnership maps Lux Innovation Grid How to implement: Quantitative data Centralized platform Mine your portfolio

52 52 Using this data-driven strategy, what can you ruin just a little so consumers will want to have more of it?

53 Thank you for joining us. Sara Olson, PhD Lux Research, Inc. Lux Research Blog + Free Webinars Lux Spotlight Podcast Lux Research, Inc. on Soundcloud or itunes