This article was contributed by Re-Hub’s esteemed adviser, Rahul Colaco.
The unfortunate COVID 19 coronavirus issue has put a spoke in the business plans of many organisations, in fact it has put a dent in the lives of people. Especially in China where the post-CNY period is a critical start to the year, life has not yet resumed fully in several areas. The disease is a hard knock for humanity and we pray that things improve soon.
For business leaders, it is important to make decisions based on facts and data in a period when many rumours and opinions are swirling around, especially on social media. How do you get hold of reliable data? Especially if you are a consumer facing organisation, the lack of consumer facing opportunities means there is difficulty to obtain reliable consumer insight, which is the foundation for growing your brand. Relying on traditional marketing agencies might not be sufficient in this period of high uncertainty and fast change.
Zectr is a cutting edge tech company that delivers consumer insight using machine learning, fast! I recently had the opportunity to understand from their co-founders how their model works using a live use case with a tracker for China consumer sentiment, and was impressed with the strategic actionable output from the report.
Some of the observations I came away with:
- The representative set is selected based on the same method for polling samples
- Unsupervised machine learning technology means no input bias
- The algorithm is based on data science and digital business logic, thereby enabling strategic output
- Consumer segmentation is created automatically using 3 different psychographic dimensions
- Over 95% of the report is automated, manual intervention only to make the report sexier
- Best of all, setting up a tracker and obtaining finished results takes less than 2 days!…And for those who like geeky stuff, the digital interface is very neat
Relying on social listening tools in the current situation might be superficial. Getting into consumer minds is important for organisations to respond and proactively prepare their business when things improve. Its going to be a race when it does…having quality data will help you stay agile and ahead of the game.
Zectr is a key partner of Re-hub and helped power our 24 page free AI-generated report on the effect of the Coronavirus on consumers in China