How multidimensional data can provide an accurate picture of the industry at hand
Market research helps businesses answer the ‘what and why’ of specific problems. But research done poorly will not only give you the wrong answers, but can steer your business in the wrong direction. The key is to combine information from multidimensional data sources to get to the whole truth.
As an increasing number of businesses rely on market and competitive intelligence, there’s a strong need for greater levels of insight to gain competitive advantage. Relying on data and information from a single source might not always give you best results, as you could miss out on other factors relevant to your business.
Let’s assume that a consumer brand wants to evaluate its market position relative to the competition and take the right measures to improve its product and marketing strategy. In such a scenario, insights based on just primary research or secondary research just won’t cut it. While primary research can report the current picture of the business environment, it cannot reveal the underlying reasons or predict future outcomes. That would require additional information from secondary sources and analysis of unstructured user data.
At Netscribes, we employ a range of qualitative and quantitative marketing research methods, our underlying goal being to develop a set of interlocking and practical capabilities to extract value from data, and appropriate it to our customer’s advantage. With a deeply-entrenched, customer-first ideology, our experts distill insights from multidimensional data sources to paint an accurate picture of the industry at hand.
The usual primary research methods like interviews, web/online surveys, and focus group discussions are used extensively to foster growth and create value for clients. While we often conduct secondary research in conjunction with this, social media-focused analytics tools are employed on a case-by-case basis to derive intelligence that could make or break a company’s strategy.
Social media can create a new information map based on people and their conversations on social platforms. Real-time social intelligence can help companies preempt their competitors’ moves and adjust their strategies accordingly. From monitoring online customer support forums to understanding end-user attitudes, Netscribes helps you do just this with its digital expertise, seasoned analytical skills, and innovative technical solutions.
Innovation often sets winners and losers apart. Finding out the innovations relevant to your business can help you identify opportunities for product development, view the investments your competitors are making, and help you stay better prepared for the future. That’s why Netscribes market intelligence integrates IP research by analyzing the patent landscape and predicts emerging trends and their implications for your business.
With an eye to enabling companies to manage the risks posed by open business innovation, we inform formidable strategies implemented across sectors. Our holistic patent analytics bouquet covers prospect profiling, prior-art search, analysis of patent landscapes, and mapping searches which include free text searches that are inventor-based, classification code-based, citation-based, and assignee-based.
Sounds interesting? Transform the fabric of your daily operations with us today.
