How Market Research Automation Will Make Your Business Successful and Improve Your Profits
What if you could get your hands on a tool that makes real-time decision making on sourcing, pricing, and the flow of goods possible? How much do you rely on real-time market information to make strategic business decisions? It is amazing just how much a reliable real-time research automation tool can do for your business; i.e. deliver accurate raw market data with zero delays that can be analysed and used to inform future business decision making.
The idea behind Virtual City’s Merchandizr tool is to ideally allow users to immediately view the trends or changes in their market environment thereby enabling them to quickly make important and sometimes make or break decisions on the go.
How Market Research Automation Solution Works
Virtual City’s Market Research automation tool is a mobility solution that works with handheld devices and can be used by all categories of businesses and organisations such as cooperatives, farmers, agro processors, supermarket chains, retail outlets, any companies that manage large sales teams in various locations or fields and those who use distributors to distribute their goods.
In most cases, handheld devices are fitted with pre-set market research features for your field agents who will collect information from the market and send it to a central point instructed by you for analysis and consolidation. You can process the raw market data in a customised manner and the report obtained can be used by your business to understand the market and therefore make informed management decisions on issues like, products, pricing, distribution and promotional needs. Your overall goal is to attempt to satisfy the needs of your market and also adapt to the changing market trends by using available information.
A typical research automation solution will help you:
a) Manage complicated algorithms on huge or raw data sets to provide tactical and strategic solutions for your own benefits and for comparisons against your close competitors.
b) Transfer information to various applications as well as use advanced techniques to distribute real-time information effectively.
c) Save a lot of valuable time spent doing complex and difficult market analysis manually.
When you start to use this automated market research tool, you may have to go through the initial learning curve but you should get over this and the results will definitely be satisfactory to you. This solution comes with high-end information processing technology that will enable you to process data from multiple streams of sources accurately.
Benefits of Market Research Automation Solution
Automation of business processes helps in several ways:
1. Reduce business costs: By automating, you can reduce costs and daily expenses quite drastically. In fact, many businesses have lots of work that takes huge amounts of human time and effort, yet an automated system promises better efficiency and more quality output.
2. Improved Mapping: An automated market research solution will provide you with such benefits as market segmentation opportunities, product mix, product positioning, opportunities to provide effective consumer solution, comparisons against your competitors and improved mapping of market requirements.
3. Analysis tool: Also, you will be able to have more information on market intelligence like customer buying trends, quantity and brand mix sold to different market segments, feedback from your customers and an instant analysis about your competitors. You can easily use these market intelligence tips to do route planning, effect product promotions right on time and offer incentives to your customers.
4. Improved information flow: In addition, reliable market research automation solution will help you improve on the flow of information, take decisions based on factual market data, create increased visibility for your products in the market place among other additional benefits. Above all, such market research automation solution will improve your productivity and profits.
For more information on our range of mobility solutions, contact us today.