What makes Product Intelligence interesting to us as a field of focus is that it is a superb application for Big Data – providing highly targeted, real time intelligence that serves up insights INSIDE of the new product development process at the exact moment when conclusive, authoritative insight is most needed. When it’s literally make or break.
What Is It?
What differentiates product intelligence from other research? It provides real-time, data-driven insights for new product development decisions and innovation initiatives based on the large multiples – the scale of big data. What features will attract consumers to my product? How do customers perceive it relative to competing products? In which geographic markets will it be the most successful? Product intelligence can tell you this. Imagine this…you’re developing a personal hair care product and you’re looking for a particular niche, let’s say hair color in China, which could be called a mature market. You can listen to 25 people or perhaps 500 or 5000 in focus groups or online panels. Or you can listen to 500,000. That’s the unique advantage and why big data got the name Big. …
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