Market intelligence is the aggregated data a company extracts from its existing or target markets. Shrewd and well-analyzed data helps a company cognize the state of the marketplaces and competitor environment. Tools for extracting this valuable data capably penetrate social media, company profiles, news articles, and academic papers to aggregate and analyze the data. The forceful and actionable information can be used as a foundation to create penetrative strategies and crusades.
Features and Benefits of NetBaseQuid
NetBaseQuid is a contemporary, AL-powered social media auditing tool enriched with tools and features necessary for processing billions of indexed resources. Its ultra-efficient connector has a powerful SQL interface offering access to multiple consumer research data resources such as news, blogs, and social media. The platform seamlessly integrates with most data science models to ease the conversion of unstructured information into custom metrics for empowering data-driven decisions. This tool generates accurate insights giving you a clear picture of how people perceive your social media presence.
NetBaseQuid utilizes artificial intelligence technologies to evaluate social media data to identify faults, fortes, and prospects. Use this tool when creating social media strategies and campaigns for boosted success levels. But before using NetBaseQuid, gather the needed data using third-party or native social media tools.
Different Types of Market Intelligence Tools
Thousands of data gigabytes are generated per diem in diverse formats and structuring. It can be hard to tell the tool to use for extracting and analyzing different markets. Microsoft Power BI is a self-service marketing intelligence tool that operates on Azure, a cloud computing platform. As a cross-platform tool with extensive integrations, it provides valuable market intelligence that facilitates quick decision-making in various business settings. Power BI is easy to learn, and only basic Power BI Course is required.
Competitive Intelligence
Tools designed for this application monitor and collect data insights from competitors’ businesses, product offerings and strategies. The tools likewise generate valuable insights into the competitors’ target markets and customer bases. The perfect example of an excellent tool for analyzing competitors’ markets and customer bases is SEMRush, which contains features such as traffic analysis and keyword research.
Customer Intelligence
Tools of this caliber focus on extracting useful consumer sentiments, including their profiles, comments, and journey. Businesses need these tools to understand better and connect with their clients. The insightful data extracted outline customers’ sentiments towards your brand, what they need from your brand and the best ways to connect with them. Use such tools to track consumer conversations across social networks and blogs for more insightful research data.
Social Media Listening
Social media listening tools have become pretty popular today, thanks to the global acceptance of social media as a powerful and reliable advertising tool. The tools take the data collection work a notch higher by monitoring your brand’s social media conversions. That way, you know which keywords, hashtags, and brands you’re ranking for on search engines. Most tools in this category can monitor all social media platforms, including YouTube, Twitter, Instagram, and Facebook.
Trend Intelligence
Trend intelligence tools are essential for monitoring and suggesting trends relevant to your brand. The tools create a picture of what clients are buying and interested in while suggesting the most likely to happen events in the future. Such market information is critical when devising strategies or making decisions about your service, business or product offerings. Look for a tool like PipeCandy, internationally recognized for delivering deep and relevant insights to prospects and imminent prospects.
Collecting market intelligence before devising a marketing campaign or strategy is mandatory if you want to penetrate deeper markets and coil a brand that listens and cares. Similarly, market intelligence is fundamental when creating new products, opening a new business location or expanding to new markets. However, the success of your promotions and crusades will largely be impacted by the type and quality of data collection tools you pick.
