- Posted on : May 9, 2023
- Industry : Corporate
- Service : AI and Machine Learning
- Type: Blog
The job of category leadership, market and competitive intelligence professionals working in the consumer products industry has never been harder. In our digital world, customer preferences for a product, a service or a purchase channel can flip as easily as a switch. Just when it seems the dust is settling, a new product launch or acquisition can reset the goal posts leaving companies scrambling to figure out how to respond.
A result of our fast-paced, digital business environment is a relentless flow of information. From analyst reports to news developments, social media and so much more, the amount of relevant data and information grows every day. If you are working as a market intelligence or category leader today you already know, tracking what matters for a particular category is harder than ever.
NAVIK SIGNALS provides real-time tracking for information that matters to your business
NAVIK SIGNALS was designed from the ground up to track hundreds of different data types across innumerable external sources to extract relevant signals and create a unified view of your market and category. We work closely with clients to define the particular signals you might care about for a product category.
Signals could include competitor product launches, product retirements, an acquisition, a geographic expansion, new market entrants and any other market development a category leader would be concerned with. The natural language processing (NLP) powered solution combs through real-time data feeds across market intelligence channels to measure intent that is predictive of a signal occurring. The result delivers real-time insights across:
- The Company
Generative AI is Changing the Game
Fast forward to today, and generative AI solutions such as OpenAI’s ChatGPT have taken the world by storm. What if a market intelligence professional could combine the power of a tool like Signals with the intuitiveness and ease of use of an intelligent chatbot powered by a Large Language Model (LLM) such as OpenAI’s GPT-4? Imagine being able to enter a query such as, “has there been an uptick in social media activity related to our recent plant-based yogurt launch?” Then, dive deeper: “Create a column chart that summarizes social media engagement by competitor for plant-based yogurt over the past 3 weeks.”
All of this is now possible today. Within the NAVIK product team at Infogain we have been building on GPT-4 a since its public release and experimenting with a variety of additional LLMs. Clients are working with us because despite all of their potential, these models were not designed for the needs of an enterprise organization. We are helping customers:
- Ensure their data remains private. Both structured and unstructured data remains within the client’s firewall while still taking advantage of the power of a LLM.
- Improve model specificity. Additional training on GPT-4 ensures business relevant and appropriate responses to queries.
- Cost (token) optimization. NAVIK SIGNALS includes a proprietary method for reducing the search space for a particular query, thereby reducing the number of tokens required for any given query.
- Customized user interfaces. The NAVIK SIGNALS user interface can be customized for particular business processes and workflows delivering information in the format desired by the client.
NAVIK SIGNALS is a real-time monitoring system designed for category market and competitive intelligence professionals. This innovative tool enables the tracking of category intelligence through multiple sources and provides actionable insights that are critical to making informed business decisions. Now enhanced with the power of LLMs, NAVIK SIGNALS is easier to use than ever, driving business productivity and category insights that were not previously possible. If you're looking to revolutionize your market intelligence efforts and take your category strategy to the next level, reach out to learn more about this exciting approach and discover how it can benefit your business today.
Contact us to learn how you can leverage your products and our engineering talent to make more authentic connections with your customers—and drive revenue and growth for your brand.