When it’s time for strategic decision-making, brands with access to the most relevant and immediate consumer and market insight consistently win on and offline. And it is why AI-powered contextual analysis truly is a game-changer for brands. We’ll show why that is, by exploring how it looks!
First, a brief background about what we do to flavor a brand’s understanding of whatever category it inhabits or wishes to enter. Quid is an AI text-analytics platform that reads and then draws connections across millions of text documents. And at some point in the near future, that access will shift to billions.
With millions of data points at play from billions of consumers active online daily, brands need to generate quick insights to help them answer complex questions. Our platform utilizes next generation artificial intelligence to reveal actionable insight in three critical areas: competitive intelligence, market landscapes and trend analysis. Let’s take a look at each in turn.
Competitors are everywhere online and off and understanding what they’re up to is important. It’s also important to have results that aren’t subject to analyst bias – and any data that’s sourced by a human is potentially tainted in precisely that way.
How does Quid account for that? Our super accurate tool requires zero human intervention beyond inputting one’s search criteria. Quid removes bias because it’s all AI running the search and creating contextual connections. There’s no human intervention to select what s/he feels is important.
Once you have the insight in front of you, analysts then have the ability to dig deep into the data to see how prevalent the conversation is – and how much of that conversation competitors are capturing.
Our recent analysis around electric cars offers a case in point. Although Tesla certainly captures the lion’s share of the conversation right now, there are many other car manufacturers – and investment firms, making waves in the space.
Understanding who these top contenders are and what stories are being shared about each helps those researching the space see where the industry is headed – and why hybrids have reason to worry!
AI-informed Market Landscapes
Having an overarching view of an industry is crucial, as the market landscape can suddenly shift and leave a brand in the lurch. Just ask taxi and other private label car service owners about Uber for a stark example there. Or look to Airbnb disrupting the hotel industry.
Any category, no matter how deeply entrenched in the consumer mindset can experience a seemingly sudden and extreme pivot when brands are not paying attention to the big picture. And the big picture has a global view, regardless of your home base.
How many businesses have been impacted by the Coronavirus as part of a trickle-down effect from major enterprises having to close up shop (at least temporarily) in China? And it’s not only impacting those with manufacturing hubs, but many other industries as well – most notably, travel and hospitality.
Keeping an eye toward the insight in your category, worldwide, and monitoring the landscape for the first signs of trouble can mean the difference between preparing ahead of time and scrambling to make a last-minute plan. The latter costs brands a lot more. Tons.
AI-uncovered Trend Analysis
And although we referenced Airbnb and Uber as sudden shifts in consumer needs, were they really? While the landscape view would offer hints to alternative transportation investments and increasing conversation around these new offerings, the picture is incomplete without trend analysis. And trends are probably the most important item to keep front and center as you map out where to direct those promotional, investment and research dollars.
Take inclusivity, for example. The market landscape – any market, really – will ultimately see inclusivity as an ideal that consumers will use as criteria for making purchase decisions. Sustainability is another hot trend that will soon become table stakes. Millennials have already killed American cheese with their social influence, and we see major brands altering their positioning to adapt to this powerful consumer base.
Not knowing which trend(s) are most relevant to your brand/category could bankrupt a business. Imagine a company choosing unwisely and focusing its efforts around offering Bitcoin, Ethereum and other digital currencies as payment options, instead of transitioning its packaging away from plastic to hemp (for example). Or maybe the reverse is true.
What’s the trend in your market and does it make sense? Next generation AI-powered consumer and market intelligence in general, and contextual analysis specifically, allows brands to make those distinctions.
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As you can see, to say we significantly speed up time to insight for brands is understating things. And these examples really just scratch the surface of what’s possible. Reach out for a demo to see the true power of NetBase Quid and start capturing category-creating intel
