New 'Digital Consumer Intelligence' Industry To Evolve Market ResearchPR Newswire | Brighton | Updated: 25-06-2019 18:50 IST | Created: 25-06-2019 18:50 IST
Brandwatch, the Digital Consumer Intelligence company, today introduces a new market category that will transform the $40 billion market research industry for the digital era and sees the company push beyond its heritage in social listening.
Digital Consumer Intelligence is a new market category where vendors, brands and agencies combine digital, survey, social and first-party data sources with data science and AI. By harnessing modern technologies, Digital Consumer Intelligence enables brands to bring the voice of the consumer into their decision making at speed and scale so that their products, services and business strategies can better compete in the digital era.
With the explosion in the availability of digital data, where consumers can transparently share their experiences in real time, and with the heightened competition from a new generation of Direct-to-Consumer challengers, brands have to move faster than ever before to compete. Established methods for understanding consumer opinions are too wieldy and expensive to cope. Digital Consumer Intelligence directly addresses all of this by helping brands to make sense of and bring structure to this data at scale and as it happens.
This latest move from Brandwatch is the culmination of its recent merger and acquisition strategy. The Brandwatch Consumer Research platform launches in the coming months and will provide a marriage between Crimson Hexagon's AI-driven tech which analyzes unprompted social posts, and Qriously's global reach for real-time prompted digital survey responses. Together, all these technologies create a 21st-century toolkit for market researchers, brand owners and modern marketers.
"Brandwatch exists to help brands and agencies achieve a deeper understanding of consumers. To help them take meaning from the data, make better business decisions and serve their customers more effectively," said Giles Palmer, Founder and CEO of Brandwatch. "Digital Consumer Intelligence is all about enabling our customers to understand consumers across multiple data sources to inform and improve product and service offerings, all while keeping consumer privacy and rights safe."
"We needed a new meaningful identity for everyone to get behind," said Katja Garrood, Chief Design Office at Brandwatch. "A fresh start, in recognition of our merger and integration. It's important to our collective beating heart that we can embrace and move forward with something new. It's definitely about more than just a logo."