As the world has locked down to combat the dreaded pandemic, it has done so in conjunction with a massive drop in consumer spending. In fact, over the past few months take up of common household goods have dropped by 22%. This is a particularly concerning finding as it suggests potential market penetration for brands aiming for high levels of growth. This year's global consumer sentiment index has been a rollercoaster: we saw one of the lowest levels ever recorded, while the second quarter of 2020 was actually the most optimistic period in history – and we’re expecting another downward shift in 2021. With that said, things are starting to look up for the rest of 2020 – here are all 5 consumer trends you need to know, to help you plan your marketing strategy for the rest of 2020 and beyond.
Read more ...Recently, the field of Data is increasingly being interested by many young people and wants to pursue their career path. However, there are many small areas related to Data that can be confusing: Data Science vs. Business Intelligence. Generally speaking, in order to interpret the situation accurately, two aspects should be considered: similarity and differences between data science and business intelligence. Prior to this article, most people think that "data science" and "business intelligence" are completely different roles. However, if you carefully analyze these different positions, it turns out that this view is not absolutely accurate! For example, some products use the technology of artificial intelligence-based data mining for mining raw data; In addition to the raw data storage platform without processing requirements (storage), a typical processing platform can only manage a single kind of work release experience management system; Other cloud applications may have greater functionality or integration options such as real time processing or mobile interface capabilities But by its nature, compared to traditional methods such as statistical analysis mathematical model analysis on large amounts of historical data It should be noted that due to its high computational requirements This type of application has nothing to do with traditional business intelligence (BI) platforms available today
Read more ...As a market research professional, you're tasked with probing consumers and other key target audiences to better understand their preferences and needs. You collect data through a variety of different methodologies—from surveys, to focus groups, to interviews—and then analyze the information you've gathered so that it can be used to help guide decision-making processes at organizations from start-ups to multinational corporations.
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