Automated market analysis: A quick guide to the webAI workflow.
WebAI transforms market analysis by automating an otherwise tedious, and time-consuming process. It delivers accurate, up-to-date insights in accessible formats, helping businesses save valuable resources, increase data accuracy, and make effective data-driven decisions.
In just four easy steps, our webAI technology allows you to scan the global economy, delivering ready-to-use insights without the hassle of manual research. Discover automated market analysis tailored to your needs and tap into those companies that matter most to you.
1. Defining your target market
Identifying a suitable target market is a cornerstone of any effective business strategy, providing crucial insights that shape product development, pricing, and marketing efforts. Depending on its respective focus, this process helps uncover potential clients, competitors, suppliers or other collaborators - in short, it is any organization’s gateway to the discovery of market opportunities. Ultimately, a clear understanding of the target market serves as a foundation for informed decision-making across various aspects of business operations, contributing significantly to long-term success and growth.
This step in market analysis can, however, already cost companies relying on manual research valuable resources - especially when dealing with niche markets or working with very specific search criteria. Our webAI technology allows you multiple ways of easily narrowing down the companies of most interest to you. For example, by general industry classification, by product offering or geographical region of operation. A target market can also be built around a reference company, such as an ideal B2B customer or an existing supplier.
2. The database search
Once the search parameters have been defined, the first significant advantage of AI-based research over manual effort sets in. Human B2B market analysts are no longer required to identify the exact entities of interest by browsing websites or reviewing official registries for hours on end. Instead our webAI scans a database consisting of over 100 million organizations worldwide to find those most relevant to your search.
Did you know, market analysts typically spend 15 to 20 hours per week on manual competitive intelligence gathering when not using automation tools?
3. Curating custom company profiles
In a third step, human analysts employing webAI technology are relieved of the most tedious, and arguably the most time-consuming task in market analysis - the actual data collection. Analysts face significant hurdles in gathering accurate, up-to-date information, with 70% of companies taking two weeks or more to collect and collate product information. This process is further complicated by the need to manage large volumes of complex data, with manual methods more prone to biases, errors and inconsistencies.
The automated scraping and processing of web data offers a superior solution to these challenges. WebAI, as one such technology, scans the selected entities and their website content and creates custom company profiles containing all the information relevant to the respective analysis project. This approach not only improves efficiency but also enhances data accuracy, and facilitates more informed decision-making. By automating the data collection process, B2B companies can focus on analyzing insights and developing strategies, rather than getting bogged down in manual data gathering.
4. The handover of insights
The delivery of market research data in readily usable formats is crucial for maximizing its value and efficiency within an organization. Depending on the format of data presentation, companies can seamlessly integrate it into their existing systems and workflows, enabling faster decision-making and more effective strategy implementation. This compatibility ensures that insights can be quickly analyzed, shared across departments, and incorporated into various business processes without the need for time-consuming data reformatting or manual entry. Prioritizing a tool that delivers data in a suitable format for the respective organization and its specific use case offers a breadth of benefits, such as:
- Enhanced data accuracy by reducing the risk of errors during manual data transfer
- Real-time updates and monitoring of insights
- Agile decision-making by providing easily accessible and interpretable data
- Cross-functional collaboration by presenting data in universally understood formats
- Easy integration with other data sources, enhancing the depth and breadth of analysis.
Our webAI technology enables the delivery of data in a variety of user-friendly formats, from simple spreadsheets to heatmaps, allowing companies to significantly reduce the time between data collection and actionable insights, ultimately leading to more responsive and data-driven business strategies.