Background and challenges

To carry out a market study allows companies to get to know each other better (market, competitors, customers, etc.) and thus to reduce their risks. This work of gathering and analysing information is intended to identify the characteristics of a market and to understand its functioning.

In addition to having a clearer view of its environment, the market research will allow you to make the best strategic choices while allowing you to become more efficient thanks to your good knowledge of the market.

In fact, a market study often boils down to a set of pages with figures and graphs that are not always legible and understandable, so decision makers will be able to opt for BI software to make reading this strategy document more efficient and easy.

By the way, what is Business Intelligence?

Business Intelligence can be defined as all the tools and methods that aim to transmit relevant information to business managers. Its aim is to help them understand their environment and to support them in their strategic decision-making.

The BI makes it easier to analyze the data and to return it in a more accessible and intuitive form: report, dashboards, cartographies… This is a dynamic tool allowing to illustrate the data by means of graphs or clickable tables. This allows us to open up new analytical parameters to decision-makers.

Case study: the market for professional vehicles

One of our customers from the automotive sector contacted us to measure its penetration rate by market. Thanks to the BI tool put in place, each market segment (SUV, Crossover…) can be analysed very precisely. The penetration rate is changed for each selected criterion.

We can see, by refocusing on certain geographical areas, size of companies or sectors of activity, an over-penetration or sub-penetration on a particular target. As a result, targets become more precise, messages become more personal and marketing campaigns are more effective. This is a first entry into the ultra-personalization of marketing without going through the implementation of an artificial intelligence solution.

Cleaning the data, an imperative for the IB

Without going into the details, the most challenging part is to clean the data so that the tool is effective. In this context, we play a role as a companion to our customers throughout the data chain:

Data collection.
Targeting and enrichment of the study base: file cleaning, data reconciliation and extraction.
Creating graphic content: data analytics either creating graphics, descriptive statistics, data visualization.