Emerging trends in Market Intelligence and Data Analytics

Data Analytics

Business intelligence is a vital aspect of business today. There is a need to observe and analyze emerging trends in business, with consumers, and across the market landscape. This helps marketing teams and brands make informed decisions on how best to maximize their performance. Data is ever increasing in size, hence the need for new innovative approaches to analyzing such data. These emerging trends are more accurate, perceivable, and are easier to use, implement and understand. The marketplace is also extremely dynamic hence the need for tools that can quickly and effectively adapt to these rapid changes. This article looks at some of these trends and how they can be applied to various rand types.

Real time intelligence

As data analytics is fast incorporated into business platforms, there is a need for competent real-time intelligence. This ‘real-time’ nature is made possible owing to innovative technological advancements such as cloud processing. It also incorporates machine learning, artificial intelligence, the internet of things, and streaming tools with a similarly geared goal. The resulting information can then be used for decision-making or even allow the analytics tools to make an informed decision for you. The resulting recommendations can revolutionize a brand’s capabilities and its ability to influence and impact the target market. It can also be used to optimize operations and maximize profitability.

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Blockchain

Besides making its mark in crypto-currency, blockchain has numerous applications across many other industries. Blockchain can ensure data authenticity. This means that the collected data is valid and verified before being analyzed. The resulting structural integrity of this information makes it more viable for use by businesses. It also ensures the security of this vital information from externalities. It also allows for a deeper and more coherent data analysis as large volumes can be computed invaluable time.

Automation

Turn-around time has a great bearing on the customer experience and productivity of a brand across any industry. Therefore, data analysis needs to be quick and still remain efficient, hence the need to automate this process. An emerging trends has seen firms implement the automation of their operational processes to boost their efficiency significantly. Automation ensures peak levels of data quality which can be used to ensure similar quality results.

Natural Language Processing

This emerging trends is still in its early stages but has already shown great potential and reach. It is designed to make it easier for users to access more relevant and deeply insightful information from data tools. A good example is how users can request more specifically lined information based on their input queries. The sophisticated nature of this tool has made it possible for professionals and specialists alike to get access to precise and valid information based on their requirements. Therefore, data analytics can be carried out using the existing natural human language while still delivering impeccable and insightful results.

As data analytics is fast incorporated into business platforms, there is a need for competent real-time intelligence. This ‘real-time’ nature is made possible owing to innovative technological advancements such as cloud processing. It also incorporates machine learning, artificial intelligence, the internet of things, and streaming tools with a similarly geared goal. The resulting information can then be used for decision-making or even allow the analytics tools to make an informed decision for you. The resulting recommendations can revolutionize a brand’s capabilities and its ability to influence and impact the target market. It can also be used to optimize operations and maximize profitability.

Social listening

These days, social media has a great bearing on brand performance. Various brands invest heavily in portraying the most appropriate brand image in line with the needs and expectations of their target market. Understanding what the end-point consumer requires is not easy hence the need for a competent tool such as NetBase Quid, which can listen to and analyze their feedback on social media. NetBase is an online analytics tool designed to analyze social media data for marketing brands and agencies. The NetBase Quid platform delivers insightful information on the customer, business, and market trends. The resulting information can be quite insightful for businesses. Social listening has become a key part of marketing models across numerous industries due to its apparent benefits.

Turn-around time has a great bearing on the customer experience and productivity of a brand across any industry. Therefore, data analysis needs to be quick and still remain efficient, hence the need to automate this process. An emerging trends has seen firms implement the automation of their operational processes to boost their efficiency significantly. Automation ensures peak levels of data quality which can be used to ensure similar quality results.

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