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
Seeking the Ideal Casual Dining Experience
Judging from consumers’ comments, all the casual dining restaurants we’ve analyzed can deliver good food and service. But they don’t do it consistently, and that leads to dissatisfied customers, poor word-of-mouth, tarnished brand image and a drop in return business....
Democratizing Market Research
I recently heard on NPR about an interesting book, The Man of Numbers, by Keith Devlin. Here’s a passage from the article about the book that caught my attention: “They recorded everything in good old Roman numerals and if they wanted calculations, they went down the...
iPad 2 Camera Netnography
Our netnography of the camera feature in the iPad 2 shows that consumers were looking forward to it and saw it as a reason to buy or upgrade. Unfortunately, once they got to use the cameras, many were disappointed with the feature because of the poor quality and...