Nielsen and McKinsey & Company formed a global joint venture last week called NM Incite, the firms said in a joint statement.
The venture aims to help “leading companies harness the power of social media intelligence to drive superior business performance,” the statement read.
NM Incite builds upon the social media and online brand metrics, consumer insights and real-time market intelligence of Nielsen BuzzMetrics to transform business operations including product development, marketing, communications and customer service.
The new venture brings BuzzMetrics wholly part of NM Incite.
David Calhoun, CEO of Nielsen, said, Our clients want to take full advantage of what is possible. NM Incite will fuse social media with the enterprise, creating new opportunities, efficiencies and competitive advantage.”
Meanwhile, McKinsey is contributing client capability building and expertise in the areas of marketing and sales, organization and service operations.
Working together with select pilot clients, NM Incite is developing its first three solution areas, expected to be available this fall. The initial areas of focus are measuring and improving marketing effectiveness, product launch optimization and customer service experience.
Dominic Barton, global managing director of McKinsey, said, "Social media is an increasingly critical issue for business leaders and an area of untapped opportunity for many of our clients. This joint venture will equip institutions with real-time insights to help their leaders drive better results."
NM Incite is headquartered in New York and is led by Dave Hudson, previously Executive Vice President, Global Client Services of Nielsen’s Telecom Practice, as CEO.
