SmartInsights is an AI-powered platform that helps companies predict consumer trends ahead of the curve to accelerate and drive product innovation to gain first-mover advantage.
SmartInsights is an AI-powered platform that helps companies predict consumer trends ahead of the curve to accelerate and drive product innovation to gain first-mover advantage.
Learn more about how SmartInsights can accelerate your product innovation.
How SmartInsights works
New-age competitors are gaining significant market share
Digital transformation has changed the relationship between brands and consumers. With traditional entry barriers removed, born-in-the-clouds start-ups are eating into the market share of legacy companies by reacting to consumer preferences faster, gaining the first-mover advantage. Studies show that 97% of sales growth has been achieved by small, nimble CPG players and the flameout rate for products that do not leverage consumer insights is between 80 and 90% (Source: Accenture, HBR)
How can legacy companies stay relevant and regain market share?
Digitally-native challenger brands are forcing traditional brands to rethink strategies and use technology to identify trends to drive innovation, not just to manage existing processes. While identifying trends isn’t new, it is necessary to evaluate whether a trend has long-term potential to impact a category, and therefore warrants investment. Legacy brands need to know where, how and when to invest their money, separate signals from the noise and invest in trends that are likely to go mainstream sooner than later.
Understanding the “Trend Path” is key to predicting trends
Trends have an inflection point, hitting which determines if the trend will go mainstream or not. Traditional tracking methods help brands find out what is going on in the market – which means you will learn when something significant is happening, typically after or too close to the inflection point. This means most times CPG brands are not setting the innovation agenda but reacting to a nimble competitor. Detecting trends early and using AI can help break this cycle – now you can see what’s going on early on, how it’s likely to move and how you should prepare for it – it gives you more time to plan and be proactive and provides a single prediction that multiple teams can use and align on.
Features of SmartInsights
Global digital footprint
Extract structured insights from a wide range of data sources such as online commerce, research patents, consumer created data, marketer data, news, influencers and expert forums in different formats such as video, text, images, etc.
Trend forecasting
Trend maturity and potential evaluated using extensive, feature-rich AI & ML classification, prediction models.
Empirical approach
Estimate insights by triangulating from a wide range of data sources rather than small-scale research or gut feel.
Features of SmartInsights
Global digital footprint
Extract structured insights from a wide range of data sources such as online commerce, research patents, consumer created data, marketer data, news, influencers and expert forums in different formats such as video, text, images, etc.
Trend forecasting
Trend maturity and potential evaluated using extensive, feature-rich AI & ML classification, prediction models.
Empirical approach
Estimate insights by triangulating from a wide range of data sources rather than small-scale research or gut feel.
Key benefits
Outside-in innovation
Understanding consumer consumption and preferences across adjacent categories to predict trends in a category.
Trendspotting
Predicting consumer trends before they become mainstream.
Early competitor identification
Track and identify emerging digitally-native, smaller competitors who can be potential threats or acquisition targets.
Emerging claim generation
Match consumer perceptions to hard scientific evidence to general high impact claims.
Reduced time-to-insights
Faster go-to-market with accelerated product innovation of 30%.
