According to Harvard Business School, the failure rate for new consumer products is 95%. Why?
Companies rely on focus groups, data scientists, and market analysts to trawl through content and identify key industry trends and product ideas. These take too long to find insights, and involve reports which are often unreliable, slow, expensive, and inefficient,
The majority of social listening tools only alert you when your brand is mentioned, without letting you delve into the “why”. They often only work on one type of data source e.g. Twitter, and offer very basic analysis like word clouds.
This leads to innovation and insights teams having to triangulate insights across multiple tools, build custom data warehouses, and hire data scientists to perform the final insight.