The Best Way to Do Market Research for a New Product Development
Product development isn’t just about having a great idea; it’s about ensuring it resonates with your market. That is why market research has evolved from “nice-to-have” to an “absolute necessity”. After all, it gives product managers critical insights into customer needs and preferences while helping them understand their competitive landscape. “Nearly 30,000 new products are introduced […]
Competitive Intelligence: A New Approach for Packaging Companies
The American packaging industry is rising and is not slowing down. According to Research and Markets, the sector has the potential to expand at a compound annual growth rate (CAGR) of 4.8% by 2025. But what’s fueling this rapid growth? A triggering factor has been the consumers’ concerns regarding sustainability. Many companies are moving toward […]
Using Competitive Intelligence for Automotive Industry
The automotive industry faces a rough and gradual recovery in inventories and demand. For example, in 2021, buyers had to experience a significant price increase due mainly to the global semiconductor chip shortage, instability in the supply chain, and the problems caused by the Covid pandemic. 2022’s demand is having a spike in sales volume […]
Using Competitive Intelligence for the Household and Appliance Sector
The global health crisis and all the issues that came along affected most industries, but that wasn’t the case for the electronics and home appliances industry. Boosted by the increasing growth of e-commerce and the home economy, the online consumer electronics market expects to grow by over 10% yearly. It’s important to note that during […]
Competitive Intelligence Solutions: The Innovative Approach
Have you ever wondered how some companies manage to consistently outperform their competitors? It’s not pure luck; it’s the result of using tools for competitive intelligence to gather insightful information and make informed decisions. But what sets these companies apart is their unique data-gathering and analysis approach. They can stay one step ahead by utilizing […]
Big Data in Manufacturing: How Is Data Shaping the Future?
Data has always been a part of the manufacturing industry. Still, it was only with the rise of Big Data that everything changed. Manufacturers can now collect and analyze large amounts of data from their machines, processes, and supply chain. All these insights help them optimize their operations, improve product quality, and reduce costs. Besides […]
Big Data in Banking Industry: How to overcome new challenges
Being in the Big Data industry for over 14 years has shown us how important it is for Banking Institutions to use the correct data sets. Consider that Banking institutions generate massive amounts of daily data through countless transactions, customer interactions, and even third-party sources. Well, Big Data analytics can help these institutions make better […]
What is Predictive Analytics? Understanding the Basics and Beyond (With Examples)
Have you ever wondered how certain companies can anticipate customer needs and provide them with tailored solutions? This is where predictive analytics comes into place. Predictive models help companies identify patterns and trends by analyzing historical and current data. This allows them to make accurate decisions about the organization’s next steps regarding a new strategy, […]
Big Data in Insurance Industry: How Data is Changing The Game
Consumers like to think their insurance company provides them with financial protection in the event of an unexpected loss. But what happens when an insurance company can’t accurately assess its clients’ risk profiles? Or process claims inefficiently? In today’s panorama, insurance companies can not afford to make mistakes or be left behind by competitors. This […]
Understanding the role of Big Data in Retail Industry (With Examples)
Big Data analytics has become a “must” for the retail market. Why? Retailers can analyze customer data, purchase history, and preferences in order to obtain valuable insights for their brand. Through data, managers can improve their marketing strategies, increase customer satisfaction and keep optimal inventory levels. In this article, we will explore the following: These […]