SmartInsights: Accelerated product-innovation platform

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.

Enable a test and learn culture to drive campaign effectiveness

How SmartInsights works

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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

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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

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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.

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EMPIRICAL APPROACH

Estimate insights by triangulating from a wide range of data sources rather than small-scale research or gut feel.

Key benefits

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OUTSIDE-IN INNOVATION

Identify test and control groups based on business outcomes that need testing, as well as underlying factors that could vary across the groups.

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TRENDSPOTTING

Remove the effects of unintended / confounding factors through ANCOVA-based methods, making it simple for non-statisticians.

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EARLY COMPETITOR IDENTIFICATION

Discover insights 95% earlier as compared to the manual feedback cycle, enabling corrective action in a time-bound manner.

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EMERGING CLAIM GENERATION

Remove the effects of unintended / confounding factors through ANCOVA-based methods, making it simple for non-statisticians.

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REDUCED TIME-TO-INSIGHTS

Discover insights 95% earlier as compared to the manual feedback cycle, enabling corrective action in a time-bound manner.

Connect with our experts to understand how SmartInsights can help you predict trends and apply insights for product innovation.