Inside PepsiCo's new innovation approach; The food and beverage giant reveals the data science it uses to get products to market sooner--including Reddit chatter

Each traces its lineage to a radical approach to product development at the giant food and beverage company that uses data science technology to comb through a range of information-everything from restaurant menus to Reddit chatter and consumer survey responses-to reveal trending "attributes." "Innovation is a key catalyst for increased sales, market share and profitability for beverage companies because so many legacy categories are in a slow state of decline," said Burt P. Flickinger III, managing director of the consultant Strategic Resource Group. Umi Patel, VP, consumer insights and analytics for PepsiCo Beverages North America, said the Attribute Engine presents a unique view into omnichannel trends by interpreting conversations on social channels such as Reddit, TikTok and Instagram; search and sales data on Pepsi's own e-commerce sites; restaurant menus; and more. Pepsi had been looking at digital trends for years as it approached innovation, "but what's unique about this is how it brings it together in order for us then predict what it means for the future," Patel said. [...]the trends revealed by the Attribute Engine are being approached in a different way by the company, spurred in part by the disruption brought about by digital influence on consumers and amplified in social media, said Emily Silver, VP of innovation and capabilities for PepsiCo Beverages.