Use NetBase Quid Products to Enhance Market Research And Identify Trends

Today, accurate business intelligence proves essential for effective marketing purposes. The recent global Coronavirus pandemic significantly increased the volume of online shopping in many parts of the world. Yet while consumers hurried to order some types of products, other goods and services actually declined in popularity during 2020. As a busy holiday marketing season rapidly approaches, retailers desperately need to obtain useful Market Intelligence

The Benefits of Market Intelligence 

What trends prompt consumers to favor one type of product over another? How soon will customers return to pre-COVID-19 purchasing patterns? Did the pandemic irrevocably change the way shoppers purchase goods and services over the Internet? The answers to these questions, and many others, may impact online merchants profoundly over the course of the upcoming year. 

Of course, retailers still need to obtain accurate data about potential marketplace competitors and their product lines. Before investing in an expensive holiday season sales campaign, most marketers carefully evaluate online shopping trends and the available products within their marketplace niches. Taking this step often assists a retailer in determining the products to actively promote. It may also prevent a needless waste of advertising resources. Accurate, finely targeted, customized market research holds immense value. The recent disruptions created by the

COVID-19 pandemic only served to highlight the importance of this category of business intelligence. 

A Stunning Transformation in Technology 

Fortunately, retailers and other online merchants benefit today from rapid recent advances in database technologies and artificial intelligence (“AI”). The power of computers has grown significantly during the past two decades. These powerful tools now offer assistance in gathering, manipulating, and analyzing huge streams of data in real time. They facilitate more accurate analytics in a staggering array of fields today. 

To fully appreciate the revolution in computing, simply compare the differences between the huge mainframe computers of the 1960s and 1970s, and the compact (yet vastly more powerful) laptops and PCs of today. In fact, a simple hand held smartphone in 2020 offers far greater computing capabilities than some of the expensive university research computers of yesteryear. This change will greatly assist online merchants conducting market research in the wake of the global COVID-19 pandemic. 

A Helpful Market Research Solution This Year 

How do more powerful computers and mobile technologies assist business analysts today? First, modern computers manage much larger data streams than their predecessors. In the past, analysts often had to wait for extended periods of time in order for human beings to input information and manipulate the data. Now, automation often removes the human element from this process. A point-of-purchase scanner may transmit information about a purchase directly to a database in a matter of seconds. 

Second, today large databases extend across networks of computers. These IT resources sometimes evaluate information from diverse locations quickly. Obtaining a real time stream of intelligence offers valuable assistance to researchers in many fields. Business analysts performing important market research assignments no longer need to wait weeks, months, or entire fiscal quarters to appreciate the results of these manipulations. Instead, they use sophisticated software platforms that crunch the numbers rapidly and alert humans to significant trends and developments. 

Tap Into Useful Analytics This Year 

How can online marketers benefit from this change? NetBase Quid product lines offer a way for even small companies to obtain the benefits of highly sophisticated computerized technologies. Using the Quid Pro market intelligence and analytics platform may provide businesses with the competitive edge they require to survive and prosper during a very challenging economic period. Don’t overlook this potent resource!