To stay ahead of consumers’ rapidly changing preferences and behaviors, brands need more than just social data. Enter AI-enabled consumer intelligence: harnessing a variety of internal and external data sources, it has evolved beyond traditional social listening to capture the complete view of consumers. By hybridizing data – aka merging big data from sources like social and search with first-party data from surveys, CRM, and more – brands get the full picture and a single source of consumer insights.
But, it’s easier said than done. Data analysts estimate that 80% of their time is spent creating new datasets rather than analyzing data for insights. Consider also that valuable data sources never stop growing and multiplying, and companies are left spending more time wrangling data than reaping the benefits of insights.
So, how does AI-enabled consumer intelligence deliver valuable business insights with data hybridization?
More data sources = more complete insights
There’s no shortage of consumer data; most companies are drowning in it from sources like social, CRM, user-generated content, marketing operations information, web analytics, and more. But for insights pros to make sound, strategic decisions, they need the full picture. Better data coverage from a variety of sources reduces biases and fosters more precision in your analysis. Different sources provide different insights:
- Twitter allows you to monitor spontaneous and hot reactions to trending topics
- Forums and blogs allow advocates and experts to provide longer form, more detailed feedback on your products
- Opinion surveys reveal your consumers’ satisfaction levels
- Search data uncovers your consumers’ intent
With the right tool, data hybridization yields faster, more accurate insights by allowing brands to spot correlations between data sets. For example, a brand evaluating their recent product innovation might look to social mentions on Twitter and Facebook and customer opinion polls for a complete view of consumer response.
Better insights = better business decisions
With the full picture of consumer behavior and trends, brands can make better, data-driven decisions. For example, imagine bringing a new, innovative camera to market; by analyzing CRM data and product profitability data, you could quickly identify which cameras are likely to generate the most revenue and customer interest.
Another example: one Synthesio customer wanted to understand why they were receiving negative feedback and press from customers. By analyzing both survey data and consumer sentiment in online conversations, they uncovered key pain points and correlations between the two. Equipped with these actionable insights, they subsequently launched an improved customer service program plus new digital promotions.
By drawing on multiple online and offline data sources, AI-enabled consumer intelligence enables you to make data-backed, revenue-generating decisions – whether that’s jumping on a new market shift, targeting a new audience, or seizing a product innovation opportunity.
>> Want to learn more about how Synthesio’s AI-powered platform allows you to get the complete view of consumers and your customers? Request a demo here. <<