Modern business seems to be in a constant state of flux. Central to most changes is artificial intelligence and social media. NetbaseQuid combines technologies for a unique solution with profound potential.
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What are Competitive Intelligence Tools?
Competitive intelligence (CI) makes artificial intelligence and related technologies more actionable. New and emerging tools are designed for specific operations across various enterprises. CI tools are unlike previous, broadly applied technologies. They’re designed to be much more targeted and specific for the individual needs of a particular business.
AI technology and deep learning are still young in their overall development. CI tools are a profound leap for this industry, business in general, and the future. CI tools can target and customize solutions to respond to market trends in real-time. This is an advantage that’s quickly becoming a dominant factor in online environments.
Leveraging CI Tools to Get Ahead in a Crowded Digital Landscape
Saying that the digital landscape is crowded in 2020 is an understatement. Businesses need to excel in their digital operations to be successful. This is where market intelligence and competitive intelligence tools come into play. They’ve already begun to redefine how some companies are doing business. What pioneers in CI tools are realizing is that there’s untapped potential to reach new clients and respond to competition.
Choosing the Right Tool
The right competitive intelligence tool will meet your business’ challenges and needs. There are any numbers of tools that offer broad advantages. The objective must be to choose the right one that improves specific areas of operation. Different tools will perform better or worse depending on the company and the specific needs of the day. The other key factor is the application. Fully realizing CI tools will likely require the help of your provider’s support staff.
Be Fully Informed before Making Decisions about Newly Discovered Insights
CI tools will usher in a new age of actionable social media insights. Decisions will be made in real-time. Broad AI tools are insufficient to meet this demand. CI tools provide the only method for understanding and responding to consumer insight on time. There are several specific factors that pertain directly to actionable insights. These include:
- behaviors
- trends
- preferences
- sentiment
- competition
- deep analysis
Understanding the overall behavior of your current and potential consumers is as fundamental as any other aspect of the business. On the other hand, their preferences and sentiments are often neglected. Until the advent of the Internet and the development of social media analytics, most consumer insights were thought to be highly mysterious and unpredictable. Analytics is now a part of the modern business landscape.
To gain an advantage in today’s marketplace, businesses will need to both understand the nuances of their consumers as well as their competition. This is how competitive intelligence tools specifically improve business. Becoming better in its application allows for deeper and more meaningful analysis.
About NetbaseQuid
Netbase recently merged with Quid to redefine how market data can be used to improve casual relationships. NetbaseQuid goes beyond what’s expected in AI based tools. It’s become an enterprise leader with solutions that have yet to be matched. Combining social media analytics (Netbase) with a company that specializes in AI technology (Quid) has obvious implications and untapped potential. Both structured and unstructured data is leveraged in more effective ways. This provides clients with deeper contextual insights and the discovery of business trends that weren’t possible before. NetbaseQuid also provides the needed support to ensure the success of every client.
