Digital consumer intelligence company Brandwatch has brought its new flagship product Consumer Research to market. The unified platform follows the merger between industry-leaders Brandwatch and Crimson Hexagon, and marries the best of both technologies.
The merger in October 2018 created a $100m SaaS company, with 2,200 customers including 39 of the Fortune 100. The new Consumer Research platform represents a $50m investment that delivers the world’s most powerful resource of its kind. It helps brands, agencies and organizations achieve digital consumer intelligence by better understanding consumers and uncovering market opportunities to compete in the digital era.
Consumer Research expands on the technology and data-led disruption of the traditional market research industry with its focus on unearthing insights from the single largest archive of public consumer opinion in the world. It represents a core strategic step in Brandwatch’s vision to be the apex product in understanding what people really think and feel, anywhere in the world, packaged in a powerful platform anyone can use.
The new platform makes extensive use of advanced AI technology. It employs machine learning to classify large volumes of data quickly and to identify logos, actions, objects and scenes in millions of images every day. The AI-powered analyst, Iris, automatically surfaces trends and uncovers insights. It’s the only platform with both machine learning and rules based approaches, allowing extensive flexibility, categorization and customization.
Consumer Research responds to a business need to better understand consumers, in a time when the market is rewarding what Forrester calls the ‘insights-driven business’. “These new kinds of companies are growing consistently at 30% or more per year by using advanced analytics in a transformational way. They capture more and better data about customers and markets and blend both qualitative and quantitative knowledge across all organizational silos,” wrote Cinny Little, Principal Analyst at Forrester Research.
“This product launch is a major milestone in what we set out to achieve 12 years ago when Brandwatch was founded,” said Giles Palmer, Founder and CEO of Brandwatch. “Software is never done, but Consumer Research genuinely provides something new to the market. Now we’re expanding our horizons and we’re excited to see where we can take this new vision of building a new kind of digital consumer intelligence.”