DATA DELIVERY…While you wait

Never having run a single company, let alone a multinational conglomerate, I couldn’t possibly know all the intricacies of such a task. I can however take a guess at the secret sauce that keeps the very largest beasts in that domain at the top of their game…. DATA, the freshest and most accurate possible, and lots of it.

As the world we live in moves faster and faster, it is creating many difficulties for anyone looking to achieve any kind of real success. Computers and the internet have made it that virtually anyone can start a business and begin to make money. The ease with which this can be done is what really causes the nightmares for those who dream big. The sheer quantity of competition in any given market is almost unassailable without knowing exactly how things stand at any given moment in your growth: this is when the need for accurate market data becomes essential.

Personally searching the internet for specific information can be like walking into a new supermarket for a few items while hungry. After spending far too long getting lost in the aisles you end up with a basket full of items you didn’t need, but felt were right at the time.Whether you are a one man band, run a chain of garages or head a multi-national conglomerate you will recognise the dilemmas of either too little information to work from, or of too much of the wrong type.

The people with the strongest desire to succeed and the greatest business minds become ravenous for data of all colours and flavours. It is when these hungry people decide to go to the supermarket that things get messy, and quick. They hunger for information: they are eager to know:

  • Why are people buying?
  • What are they procuring?
  • How much are they willing to spend?
  • Where are they spending?
  • Who are the influencers that create interest and generate sales through early adoption?
  • Why are their competitors doing better than them?
  • What are the end-users looking for in their next procurement?
  • How can we meet their desires and still make a profit?
  • What can be done to generate and keep customer loyalty?
  • How do we push down production costs as material costs continue to go up?

All of these questions need answering rapidly, like yesterday, in order to maintain or achieve market dominance.

As I see it, this type of urgent information requirement can do one of two things, either inspire the powers that be to double down on their investment in personnel and double or even triple the size of their market research department and budget or give up entirely, on market research, and go with their own gut instincts.

I also note that doing either of these two things has distinct disadvantages.

Primarily, using up huge swathes of a company’s personnel resources and finances for market research ultimately dilutes a company’s long term profitability as it means less money for R&D it also detracts from the bottom line which would have an effect on shareholder dividends – ripple effect…they sell their shares and look for another company posting bigger profits.

Furthermore, not everyone has the instinct or charisma of a Steve Jobs, so sinking all your time and effort into a product that just doesn’t hit the mark is a sure-fire way to end up bankrupting yourself, or worse: losing your investors investment.

So what can be done to tread the line and keep the beast fed?

At first glance the gathering of relevant market data has become a simple task.

Every man and his dog has access to an almost limitless pool of information relating to every topic possible:

Want to know what people want from their next mobile phone / laptop / tablet / car / house / bike? Join any one of a myriad of forums where real people discuss real issues relating to exactly these things.

Want to know how bicycle pumps were sold in china last year? Head on over to Wikipedia, you will almost definitely find a page on it.

Trying to find out what products to incorporate, as standard, into your next mid-range car offering? Head over to ‘What Car’ (other car-focused websites are available) and take advantage of their ‘in the know’ journalists’ blogs.

I could sit here all day listing a myriad of individual solutions to the question of where can I source a specific type of information. But to what end?

Ultimately, as soon as you start looking for specific information you begin to realise there is one huge problem… You might know what you need to know but when you walk into that unfamiliar supermarket you realise that it is just one of many in a huge mall and all the supermarkets label their goods differently, and keep them in different places. Not only that but like all supermarkets they keep moving their stock on an almost daily basis

There really is just too much information out there to distil any kind of sense from all the noise.

Modern technology has developed to such a point whereby you can actually buy headphones with noise cancelling abilities, they quite literally listen to the sounds around you and generate an opposite frequency to negate that which is other than what you want to listen to. If only that were possible with the internet and all the information out there.

To be fair, the use of AI in search engines is making life easier for many research departments, you can for example start typing questions into a search engine and it will finish your question for you and start presenting pages for your perusal as you type.

You can use a series of shortcuts to parse out certain types of information before they are even presented to you. In the end though the issue is still the same, regardless of how smart a search engine is or how great the ability of your researchers is, it all takes time, and there could be thousands or even millions of pages presented. There will always be a need to sort the wheat from the chaff and that takes a lot of the one commodity which is always in limited supply… time… and time is money.

Now, a savvy individual might say there are plenty of organisations out there which are set up precisely to deal with most kinds of information requirements such as: Industry specific market research companies with whole libraries of previously trawled and correlated information for sale to the highest bidder, media reading agencies with teams of people physically reading magazines, books, blogs and forums etc., worldwide, ready willing and able to seek, highlight and ship over to you with the details of where it was found. I would be wrong to disagree with you. Yes, indeed, these companies are available and have been available for many years and yes, they have saved many thousands of companies many millions of man hours by putting in the grunt work on their behalf. One thing I would point out is, again, these things all take too long and are excessively expensive. Not to mention the difficulty of finding the right company to use in the first place. Fancy heading back into the supermarket?

The real point of all of the above is simply to highlight the very nature of information and how difficult it is to pin down in any kind of sensible fashion without spending time, effort and lots of money.

If only it were possible to switch on your computer and have delivered, direct to your desktop, all and only the relevant market data you require – the noise cancelled and the wheat pre-sorted from the chaff.

Well I can put your minds at rest; relief from these growing issues is at hand. When all that it promises comes to pass, distributed AI will soon be able to handle the grunt work at a fraction of the cost and in a fraction of the time (pretty much like ordering your shopping online without the risk of some random ‘nearest equivalent’ item appearing in your delivery). Yes, yes, yes, I know you have heard “computers will save us” many times before, however, this time it is different. There are many organisations out in the world that are pushing the boundaries of data control and management. Some loudly, some quietly and some in stealth mode…

One of the stealthiest which is poised to hit the global radar just a few ticks of the clock down the road is a company that is all set to revolutionize the world …Invacio. Drawing from an immense data store (2 billion+ data sets), thousands of live feeds and with an ability to sift through over 250 terabytes of information daily, they process all those pages of data, determine what the issue is, break down the statistics then turn it all into bite-size pieces for the company or client. This works for any keyword, you can quite literally see where you are losing customers. Or, alternatively where a competitor’s new product is failing to gain traction within a market into which you could deliver your new release. The possibilities are endless.

This behemoth of AI is like nothing else in the world today.

Link to complete Whitepaper…..Link to sign up for pre-sale now

This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.