Consumer Startups: Hyperlocal Wave 2.0

Indian market is not new to the use of Big Data in consumer startups. NASSCOM reports that India is now the third-largest start-up hub in the world with more than 3000 new companies in the year 2020. With the prevalent technology and data service, any existing business can make their presence felt in the other sphere, i.e., an online brand can build an offline front and an offline brand can become an online store.

Operation tools based on Machine Learning and Artificial Intelligence is able to use the massive consumer data from various signals and powerful insights to help better strategising and marketing of your products. Correct market analysis and identifying the demand curve for your product are among many things Alternative Data can be utilised for.

It is not that brands don’t have access to their customer data. The core issue is that most of these data sources such as syndicated retailer purchase data, digital interactions and touchpoints, brand store footfalls, loyalty card insights, or even opt-in panel data are in silos. How can the consumer businesses combine these diverse data sources and add in alternative data to fill in the gaps?

Alternative consumer data enables consumer-focused companies to connect the dots about their buyers to truly get to know them. It helps in shaping their distribution, product innovation, sales and marketing strategies around these insights.

Traditional vs Alternative Data

These are tougher times for retailers and startups. The customers are spoilt for choices from homegrown boutique consumer startups, new-age makers, as well as challenger brands. The sooner these brands start getting to know their customers and their non-linear, exploratory customer journeys, the faster they will be able to ramp up their products, operations and distribution, as well as marketing in truly customer-centric ways.

To know more, one could access the consumer startups innovation primer that we have put together.

Solutions

unMazer.ai helps businesses bypass these issues and provide meaningful signals from all the noise. We help consumer-facing startup (b2c) in

• Hyperlocal intelligence
• Identifying shopper Segments
• Ingest fast & consumable Insights
• Targeted marketing Effort
• Geo-Intelligence via physical touch-points

For startups, which are operations first, it’s time to realize the need to augment their decisions in data-driven insights. The explosion of data means that new technology has to be acquired to integrate multiple data sets and derive insights from them. Customer experience led by metrics is paramount for the survival and growth of consumer startups.

Alternative Data has become one of the most powerful tools available to retailers and is being used for a broad variety of purposes. Having the ability to understand the useful signals from the trove of data is a major advantage that can make a huge difference in today’s hyper-competitive landscape and helps leaders make well-informed decisions and strategize for the future.

This is where unMazer.ai comes into the picture. We are a SaaS-based data intelligence platform that enables key decisions for market players. Our AI technology provides decision-makers with the most comprehensive and economical insights from multiple sources such as social media, news/articles, locations, transactions and private proprietary data which are anonymized and meet high privacy standards.

Access the full report here. To know more, please visit unmazer.ai or write to us at sales@unmazer.ai or leave a comment.