What is Market Intelligence?
Market intelligence is the critical data for a brand’s market trends, competitor environment, and industry by aggregating and analyzing data from company profiles, patent applications, academic papers, news articles, social media, job site reviews and more to determine the best strategy investing in different market opportunities, market penetrations.
Powered by next generation artificial intelligence (AI) platforms, market intelligence draws upon a multitude of external resources combined with propriety internal customer structure and unstructured data to extract actionable, accurate insights that forms the basis of strategic decision-making that touches every part of the business.
3 Things You Need to Know
- More than 60% of global consumers engage in social media platforms every day.
- On average, consumers spend 2 hours and 24 minutes per day on social media; knowing what they’re talking about is key
- #1570e6d11a8d”>40% of marketing and sales teams believe data science driven by artificial intelligence (AI) and machine learning is foundational to their success.
Fast Facts
- Over 350 million new images are uploaded on Facebook and 85 Million images uploaded on Instagram every single day.
- There are over 2.3 Billion social media users of which 1.8 Billion use social media daily.
- The 5 most popular social media sites for images are – Facebook, Instagram, Pinterest, and Twitter, and Tumblr.
What is “Market Intelligence” for?
AI-enabled market intelligence brings together real-world consumer feedback and market research to create a deeper awareness of your brands, your consumers, your competitors, and your market. Identify first movers and early adopters, understand what motivates consumer behaviors and where opportunities exist for creating differentiation, and fulfill important voids in a crowded market.
Use market intelligence to:
- Understand consumer needs, wants, and desires
- Measure brand perception and share of voice
- Identify emerging trends and category whitespace
- Conduct competitive analyses
- Track the impact of influencers on your market and consumers
How to gain better results with Market Intelligence?
Market Intelligence is the foundation of understanding your market through news media and social media analysis, as well as business and competitive research to understand the current state of any given market and apply these insights to drive brand strategy.
- Start by first doing categorical analysis to get a good understanding of a particular market or industry vertical and emerging themes.
- From there, dig into new businesses created in the past year to identify trends and technology dominating this market.
- Dive into key players in your category to identify key themes and learn what’s driving the news narrative.
- Identify investments and as mergers and acquisitions to understand movement and changes in the market that effect the industry.
- Identify addressable opportunity in the market that can inform and drive brand strategy.
Market Intelligence Resources
Social Analytics Reveals Some Oscars Surprises
With the 95th Academy Awards happening in just two days, the buzz online is ‘everything Oscars.’ There’s a ton of talk about the nominees, naturally, but there are also surprises. And it’s the sort of insight that could impact how the entertainment industry engages...
What is a Competitive Analysis? 2023 Guide
Each year brings changes in the market, offering both opportunities and warning of imminent threats to brands. And each year, brands sink or swim depending on how they leverage their consumer and market knowledge. This means you can’t afford to only mind your business...
Guide to the Best Social Media Monitoring Tools for Brands Copy
Do you know what consumers are saying about your brand? Millions of customers are online chatting about you, your products, and your services. They detail their needs, wants, challenges, and all sorts of insights that your competitors are capturing with a social media...