Growth is not guaranteed even in so-called growth markets
Driven by popular demand for fresh produce, increased awareness of diseases and preventive measures, fruit and nut farming in the US is poised for significant growth over the next 4-5 years. The introduction of more pest-resistant varieties of fruits and nuts with improved yield and extended shelf life has brightened the sector’s prospects. Advances in agricultural technology and more data-informed decisions are having nebulous positive effects on this growth market. The fruit and nut sector is by no means the only one in the US that is experiencing above-average growth at the moment. The other notables in America’s fast-growing league include the solar power segment and online gambling services. Guaranteed payments utilities make to energy developers (“feed-in tariffs”), renewal energy mandates, and various government incentives are giving an impetus to the solar industry’s growth trajectory.
At the same time, the profit optimism in gambling services rests primarily on strong consumer demand, enhanced user experience, and accessibility (thanks to disruptive technologies like mobile, virtual reality, blockchain). Favorable regulations are also aiding this sector’s growth. Innovation fueled by stepped-up competition is also behind the market’s upward march. It’s great to be in these markets, but sector participants can’t expect to profit by default or by design simply because these sectors look upbeat, and outlooks are rosy. To build immunity in the face of disruptive market shifts, build on core strengths, and improve market performance, they need a supplement: growth market intelligence.
Importance of Growth Market Intelligence
Stay prepared, don’t let the market surprise you
Without the right growth market intelligence, the best-laid plans of businesses to find new profit streams in these markets may come unstuck. It might be easier still to bell a black cat in a dark room! So, aggregating relevant data on these growth markets and crunching these data points to draw useful patterns and trends is of the essence. These insights will drive near-to-long-term decisions for a brighter tomorrow. Market intelligence covers a wide expanse of data, including on how rival businesses as well as target customers respond to shifting trends in the landscape. There are a number of tools and techniques that businesses can count on to stay up-to-the-minute on market developments. This means instead of hiding out of sight from market forces knocking menacingly at their door, enterprises can rise up to deal with almost every challenge coming their way.
Believe in the benign power of automation
Manual collection of growth market intelligence is prone to errors and inconsistencies. Since no one in their right mind can really love this sort of tedium and monotony, it’s in humanity’s best interests to let natural language processing (NLP) algorithms, application programming interfaces (APIs), and web scraping techniques deal with the drudgery. These automation tools collect, slice, dice, and decode the customer sentiment (positive, negative, neutral) about products as evidenced in emails, chats, blogs, forums, reviews, and survey responses. By analyzing customer feedback and opinions, businesses can improve their products, services, and overall customer experience. Besides, using advanced web scraping infrastructure, market intelligence teams can extract growth market intelligence through legitimate and ethical means from public properties, including e-commerce platforms, social media sites, government portals, and industry-specific web pages.
See, understand, decide! Data visualization tools make decisions easier
The automation tools previously discussed find needles of highly relevant growth market intelligence in haystacks of data and trace key trends and patterns. Next, advanced software tools and applications set to work to generate powerful visualizations, combining data streams from multiple sources on to a single, concise dashboard. So, CXOs can base their decisions on this one-and-only reliable source (single source of truth) of growth market intelligence.
How can Infiniti Research help you?
At Infiniti Research, we offer an expanding portfolio of premium research and analytics services, and our coverage extends to growth market intelligence as well. In fact, businesses of all sizes now turn to us for a range of hard-to-find data on their key markets and competitors. Our specialists in survey interviews, data analysis, statistics, and hard math understand the nuts and bolts, the hard realities, of the market, especially when it comes to gathering growth market intelligence. Our practitioners stand tall on more than two decades of firsthand experience in market intelligence and their expertise now extends to as many as 15 core sectors.
In our experience (and that of the vast majority of our clients) advanced web scraping is a sure-shot way to extract humongous amounts of relevant growth market intelligence from public-available online properties. From North American retailers seeking to aggregate product feedback from myriad online review sites to Central European CPGs resolved to decode the emotional tone (“sentiment analysis”) of customers, our client base presents a diverse mix. But they are all united by a single purpose: Understand customer needs more accurately and stay competitive amid market shifts. Clients increasingly leverage our powerful web scraping environment to slake their growing demand for competitor data. Our client delivery model in the market intelligence space sits at the intersection of human skills (represented by survey/interview experts and algorithm developers) and automated AI-powered data tools.
Ours is an unchanging yet inspirational story of making it progressively easy for clients to gather relevant growth market intelligence that really works in intended target markets!
Author details:
Yvonne Herkemij
Managing Director, North America
