Competitive intelligence analyzes consumer and market insights to provide insights for strategic action in key market and company strategies. The information is used to make better strategic decisions to boost profits. Competitive intelligence is the knowledge, understanding, and expertise needed to be an effective business competitor. It consists of the application of data and tools that reveal, define, and map competitive advantages to inform profitable decision making and cultivate true competitive advantage. NetBase Quid provides the ability to discover, communicate, and manage insights across the four competitive platforms: marketing, media, product, and distribution.
Competitive intelligence combines qualitative and quantitative techniques to develop insights about your market. Market Intelligence and Analysis organizations must generate trends, establish a holistic view, and derive actionable intelligence, which translates into the benefits you are looking for from these departments. This includes solving business challenges and understanding changing customer perceptions. NetBase Quid does all this.
Real-Time Insights
The process combines reports, data visualizations, games, and other forms of digital entertainment to give marketers deep, real-time insights into consumers’ behaviors. NetBase Quid™ delivers embedded insights into more than 1,000 individual industries and 55,000 individual segments to understand consumer engagement, loyalty, and purchasing trends. An in-depth consumer insights behavioral insights, including behavioral recall, purchase intent, and category knowledge is meant to understand the impact of competitive activities on market share and segment growth.
The collection and analysis of data allows business owners to gain a better understanding of competitive dynamics, identify emerging trends and identify or create a competitive advantage by exploiting these trends. By having a better understanding of the industry, companies can identify what is important to consumers, which can be applied to their marketing efforts, and which can be leveraged to better improve their own products and services.
Integrated Package
While competitive intelligence often uses a standard set of data, NetBase Quid delivers a fully integrated package with unique features to deliver the most advanced intelligence available. NetBase Quid helps companies by quickly and accurately identifying consumer interests and preferences, enabling to execute marketing and sales plans. How does NetBase Quid make better strategic decisions? By collecting relevant and accurate consumer and market information across a variety of sources such as traditional media, social media, popular websites, smart phones, location data, behavioral data, and even GPS information.
What are the key functionalities of NetBase Quid? NetBase Quid combines existing data, insights, tools, and actionable insight to create the insights that are critical to delivering profitable growth. The platform brings consumer insights to the forefront, understanding what their biggest needs. It’s like a global game of 20 questions, but instead of asking 20 questions you’re asking 30 billion questions to help your organization better understand your competition and find their weak points.
Robust Marketing
When your competitors have robust marketing platforms in place, your ability to stay on top is limited. NetBase Quid opens up doors to more marketing research than ever before by providing the context to these platforms. With that context, you can understand the message your competitors are conveying to consumers at an individual level, understand what they are saying about your competitors, and ultimately understand the consumer psychology behind the brands. The platform connects to more than 3.6 billion devices and more than 175 billion mobile apps in over 200 countries.
In a market characterized by reduced customer choice and a constant, fast-changing landscape, brand managers are in a much more competitive position than ever before. Targeted competitive intelligence has never been more important than it is today. To succeed, a marketer must know how to identify their competition, gain access to the data to make in-depth strategic analysis, and leverage the skills, resources, and expertise to respond to the threats they may face. This is an inherently difficult task, and doing it well takes time, commitment, and expertise.