Source: sparkchart.com
Market research: Market research is a systematic process that involves collecting, processing, interpreting, and evaluating data related to a specific market, industry, or business environment. Its purpose is to gain insights into consumer behavior, market trends, and competitive landscapes. Here are some key aspects of market research:
1. Data Collection: Market researchers gather information through surveys, interviews, focus groups, observations, and other methods. They collect both quantitative (numbers and statistics) and qualitative (descriptive and subjective) data.
2. Data Processing: Once collected, the data undergoes cleaning, organization, and analysis. Researchers use tools and techniques to extract meaningful patterns and trends.
3. Interpretation: Researchers interpret the data to understand market dynamics, customer preferences, and potential opportunities or challenges.
4. Evaluation: The final step involves evaluating the findings and making informed decisions based on the insights gained.
Source: analyticsvidhya.com
Sentiment analysis: Sentiment analysis, also known as opinion mining, complements market research by analyzing large volumes of text to determine whether they express positive, negative, or neutral sentiments. Here’s why sentiment analysis is important in various contexts:
1. Brand Perception: Companies can track how their brands and products are perceived by analyzing sentiments expressed in customer reviews, social media posts, and other textual content.
2. Real-Time Monitoring: Sentiment analysis tools help organizations monitor what’s being said about them in near real-time. This is crucial for responding swiftly to potential issues or crises.
3. Objective Reviews: AI-enhanced sentiment analysis ensures more objective results by filtering out personal bias from customer reviews and net promoter scores (NPS).
4. Scalability: With vast amounts of unstructured data generated by customers across digital channels, sentiment analysis enables efficient extraction of insights without overwhelming human teams.
5. Brand Reputation: Opinions expressed online can significantly impact brand reputation. Robust sentiment analysis tools allow executives to monitor overall sentiment and address problems promptly.
AI Tools for market research and sentiment analysis
INDICO DATA
Connects machine learning to business challenges to help enterprise users streamline highly manual, document-based business processes and gain new insights from unstructured content
Indico, a leading provider of Enterprise AI solutions for unstructured content, has unveiled its latest application version. This machine learning solution aims to democratize artificial intelligence, catering to business users seeking to automate manual processes, enhance workflows with intelligence, or unearth insights from unstructured data.
The updated application boasts advanced machine learning capabilities tailored for text, images, and document-based data like PDFs and Word documents. Utilizing Transfer Learning, a proven data science technique, Indico offers enterprises significant advantages in applying machine learning to unstructured content compared to traditional solutions. With Indico:
- Users can train models effectively with dramatically fewer data samples, ranging from 100X to 1000X fewer.
- End-to-end deployment time is expedited by up to 10X.
- Operational and hardware costs can be slashed by as much as 90%.
LinkedIn: https://www.linkedin.com/company/indico-data-solutions/
Website: http://indicodata.ai
Industry: Software Development
Company size: 51-200 employees, 103 associated members
Headquarters: Boston, Massachusetts
Founded: 2013
Specialties: Machine Learning, Intelligent Process Automation, Artificial Intelligence, Intelligent Automation, Unstructured Data, Transfer Learning, Composite AI, Deep Learning, Machine Teaching, and Intelligent Document Processing
ACUITY TRADING
Acuity Trading is a prominent player in the world of sentiment analysis technology, offering innovative solutions tailored to the retail investment sector. With a primary focus on empowering online brokers and platform providers, Acuity Trading harnesses the power of big data to deliver actionable insights and enhance decision-making processes.
Through sophisticated sentiment analysis algorithms, Acuity Trading enables its clients to decipher market sentiment, identify trends, and anticipate shifts in investor behavior. By leveraging cutting-edge technologies, such as natural language processing and machine learning, Acuity Trading equips users with the tools necessary to navigate the complexities of financial markets with confidence.
Linkedin: https://www.linkedin.com/company/acuity-trading/?originalSubdomain=in
Website: http://www.acuitytrading.com
Industry: Financial Services
Company size: 2-10 employees, 14 associated members
Headquarters: London, London
Founded: 2013
Specialties: News Analytics, Text Mining, Financial Technology, Sentiment Extraction, Services to online financial brokerages, Big Data Visualisation, Retail Trading Tools, Machine Learning, Alternative Data, News, and NLP.
DATAMINR
- Dataminr is a leading provider of real-time event and information discovery solutions, catering to a diverse range of industries including finance, corporate security, news, and public sector organizations. Leveraging advanced artificial intelligence and machine learning algorithms, Dataminr scours vast amounts of publicly available data from social media, news sources, government agencies, and other relevant sources to identify emerging events, trends, and risks as they unfold.
- By analyzing the velocity, volume, and veracity of data streams in real time, Dataminr’s platform enables its users to stay ahead of critical events and make informed decisions with speed and precision. Whether it’s detecting breaking news, monitoring market-moving events, or identifying potential security threats, Dataminr provides actionable insights that empower its clients to respond effectively and proactively.
- With a commitment to innovation and continuous improvement, Dataminr remains at the forefront of the data analytics industry, constantly refining its algorithms and expanding its capabilities to meet the evolving needs of its users. By harnessing the power of real-time data analysis, Dataminr helps organizations mitigate risks, capitalize on opportunities, and stay ahead of the competition in today’s fast-paced and interconnected world.
- Linkedin: Dataminr: Overview | LinkedIn
- Website: http://www.dataminr.com
Industry: Technology, Information and Internet
Company size: 501-1,000 employees, 756 associated members
Headquarters: New York, NY
Founded: 2009
NUMERAI
Numerai is an innovative platform that combines data science, blockchain technology, and crowd-sourced stock market prediction models to revolutionize quantitative finance.
1. Data Science Competition: Numerai hosts a data science tournament where participants (data scientists) build machine learning models to predict the stock market. You’re provided with free, high-quality data that you can use to train models and submit predictions daily.
2. The Meta Model: Numerai’s unique approach involves creating a meta-model by combining thousands of crowdsourced machine learning models. These models are used to make investment decisions in the Numerai Hedge Fund, which invests in 100% equities across market capitalizationsāµ.
3. Earn Cryptocurrency: As a participant, you can earn cryptocurrency (in the form of NMR tokens) by staking your predictions. Over $200,000 is paid out every month to successful contributors.
Linkedin: https://www.linkedin.com/company/numerai/
Website: https://numer.ai
Industry: Financial Services
Company size: 11-50 employees, 45 associated members
Headquarters: San Francisco, California
Founded: 2015
Specialties: Hedge Fund, Machine Learning, and Artificial Intelligence
SPROUT SOCIAL
- Sprout Social offers comprehensive social media management solutions, integrating AI-driven listening and detailed sentiment analysis. Keep tabs on millions of conversations within your industry across various platforms. Sprout’s AI technology accurately gauges sentiment, even in complex sentences and emojis, providing deep insights into how customers truly perceive specific topics or brands.
- Track the average customer sentiment regarding your brand and monitor sentiment trends over time. Easily filter individual messages and posts by sentiment to respond promptly and efficiently.
- Sprout’s multilingual sentiment analysis capability enables you to connect with and understand a diverse, global customer base. Access a wide range of data categorized and filtered intelligently, without altering your query, whether it pertains to people, places, products, or more. Moreover, our AI Assist feature suggests keywords for Listening queries, enriching your analysis capabilities further.
Linkedin:https://www.linkedin.com/company/sprout-social-inc-/
Website: https://www.sproutsocial.com
Industry: Software Development
Company size: 1,001-5,000 employees, 1,636 associated members
Headquarters: Chicago, Illinois
Founded: 2010
Specialties: Social Media Management, Facebook, Twitter, Instagram, LinkedIn, Engagement, Analytics, Social Media ROI, Marketing, Team Collaboration, Pinterest, Social Listening, and Publishing