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The Top Business Intelligence Priorities for Brands Worldwide

Every business is global these days – the pandemic and accelerated digital transformation has seen to that. Connecting with customers requires brands have clarity around top business intelligence priorities and solid consumer market research backing up their decision-making. Let’s explore what they are, and ways brands can capture accurate, real-time results!

In this piece, we’ll explore why leading brands and agencies are:

  • Capturing competitive intelligence with visualizations
  • Monitoring long-term trends to understand consumer buyer behavior
  • Moving beyond the basic KPIs to text sentiment analysis that offers deeper market research intelligence
  • Distinguishing between media and consumer narratives to capture in-depth audience analysis
  • And a pro tip around ways to filter and tag insight to take your emerging market insight search deeper than ever before!

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Capturing Competitive Intelligence with Visualizations

Competitive intelligence is fascinating, and it makes you understand that the world is small and everything’s interconnected. And a visual representation of an overarching conversation brings those connections to life:

business-intelligence-via-conversation-clusters-in-quid

Network view of conversational clusters around sustainability.

Being able to graphically display something that is difficult to conceptualize resonates with brands and agencies – and their clients! Instead of reading through pages of Google News results or even following a social feed and attempting to understand how the different segments relate and interconnect, Quid’s images speak to the spatial part of key stakeholder’s brains. This makes the intel easy to digest – and, more importantly – act on.

This is key, as brands are looking for market intelligence around how their organization is being perceived by the public and what is contributing to that. This informs where that are now, as well as where they’re headed.

Monitoring Long-term Trends

Consumer and market intelligence is often used by agencies new business prospecting for accurate consumer experience marketing – and for good reason. Rather than relying on, or limiting oneself to, topics where they have a subject matter expert on hand, Quid democratizes that access and allows for rapid internal education to smash learning curves. And siloes.

This also supports understand long-term trends. By offering a common starting point, agencies are able to go beyond the educational aspect to developing an industry analysis-informed strategy that allows them to latch on to a trending narrative and position the client successfully within it. Data analytics and social media form a powerful combo, after all:

business-intelligence-showing-competitive-intelligence-via-bar-chart-in-quid

Bar Chart illustrating company share of voice within different segments of overarching conversation.

And all of this takes brands well beyond the basics.

Moving Beyond the Basic KPIs

Basic KPIs traditionally focus on volume and engagement – but viewing these things in isolation falls short of telling the real story – the category-shifting stories. They can give you a good initial picture, but due privacy restrictions at social networks, social engagement data should never stand alone.

In Quid, brands and agency enhance their understanding with filters that include ‘source quality.’ This shows which intel is being published on top tier, mid-tier and niche publications, as well as content populating blog sites.

search and filters in quid for capturing business intelligence

Sample of Quid search, showing source quality and other filter options.

And this is important as there’s a definite difference in industry analysis when comparing what different sources share, as well as an additional layer of differences found when comparing media narratives vs that of consumer insight and analytics.

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Distinguishing Between Media vs Consumer Narratives

The difference in the way individuals and media speak of the same thing online is interesting. Individuals will talk about a point of view or will focus on certain element of a conversation. Whereas media, in general, try to be factual or informative. They’re looking at the bigger picture. And some of the metrics that are available on Quid, like betweenness centrality, are really useful in differentiating this market research distinction.

This market intelligence allows businesses to see the difference in consumer purchasing behavior, in language, and how people, in general, talk about things with visual text sentiment analysis. And then contrasting that against how something is portrayed by news organizations.

scatter-plot-showing-betweenness-centrality

Scatter plot showing betweenness centrality. Nodes are sized by total engagement.

But when it comes to sorting out conversational snippets and differences, filtering and tagging are a must have for businesses in any category.

Pro Tip: Filtering and Tagging Insight for Specific Needs

In terms of features and functionalities of the main Quid platform, filtering and tagging are client favorite. The capability to use the search bar to discover an entire data set is a game changer. And being able to tag the findings in three different ways, and then color code according to your tags, allows companies to create a visual of emerging market insights. One that’s completely focused on whatever insight they’ve just sliced and diced the data around.

network-color-codes-by-tags

Network conversation organized, filtered and colored by tags.

The ways a business organizes its data matters. It determines how effectively they ingest and visualize it to understand the bigger picture. Market intelligence is helpful in supporting these analyses, and with keeping companies on track in this landscape where shifting narratives and emerging trends rule the day.

timeline-of-convesation-showing-ebb-and-flow-of-segments

Timeline of conversation explains the rise and fall in volume of each segment over a period of time.

If your company is wanting to stay on top of today’s ever-changing consumer narratives, be sure to reach out for a demo. We’ll help you get your business intelligence and audience analytics priorities in order.

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