The X Future

Applying to The X Future's use case:

Enabling brands to accelerate the product to market journey using data and analytics

The X Future

The X Future

Cupertino, CA, USA

Use Case Collaborators

DB

Devanshu Bansal

Cofounder

Champion

db@thexfuture.com

Enabling brands to accelerate the product to market journey using data and analytics

Published

Last Updated: Sun May 22 2022

Industry

Any Industry

Function

Research and Development

Technologies

AI (Artificial Intelligence)
Machine learning
Big Data Analytics

Tags

market trend prediction
competitive insights
Voice of customers

Problem Statement

Corporates strive to develop and produce exactly what customers want, when they want it — and to accomplish all of that with no risk of overstocks. Developing and launching a new product is one of the most longest, expensive and riskiest efforts for any corporate. It’s not uncommon for them to invest heavily in the development effort and then do a haphazard job when it comes to the launch phase. There’s a lot of moving parts to successfully bringing a new product to market. Executing a successful product launch is now getting increasingly challenging for corporates given customers’ quickly changing preferences, the heterogeneity of their demands and the resulting micro-segmentation of many product categories. The complexities of it range from developing a compelling value proposition and positioning platform, segmenting your audience, knowing your buyer, their personas, and figuring out the customer buying process. Corporates are in need of an innovative and data integrated product launch plan that factors for a better understanding of customer needs, their preferences, identifies the right market and shortens the product to market cycle.

Description

The corporate can successfully shorten its product to market cycle by adopting the following solutions:

  • A tool with AI, machine learning, and big data that predicts product needs and market fit, reduces risk, and influences product attributes.
  • A solution that can enable corporates to get their product, whilst in its pre-development stage, tried and tested by a personalized and segmented audience to get critical insights. 
  • A solution that will help connect brands, manufacturers, and suppliers to verify claims and help launch products faster by meeting complex retailer, regulatory, and environmental standards and discover innovative materials in real-time.
  • A solution that can help validate every development idea related to a product at every single stage with a real audience, fast track the product’s innovation and avoid reiterations.

 

By implementing the above solutions the corporate will achieve the following:

  • The ability to extract authentic audience insights in real-time, analyze their feedback and understand what matters most.
  • The ability to identify and gauge the appropriate target audience with the use of AI and algorithms.
  • The ease to catch and analyze millions of signals across the web, and successfully identify emerging market trends, brand sentiment and consumer product preferences via seemingly unrelated data, and reduce chances of failure.
  • The ability to use data and predictive analysis along with business intelligence tools in the market research process, to establish a rather proactive research stance.