The data analysts at the heart of the organization
Consumers have changed. And with that change, modern brands have embraced a new form of consumer insights based on social media intelligence to get to know their customers in real time, at the speed of the Web. In large organizations, this now means that Consumer and Market Insights and their teams of data analysts are in charge of letting the data do the talking. Their key mission is to provide people across the organization with key insights that will inform any decision making processes.
"To achieve real competitive advantage, we need to ensure data is at the heart of everything we do. From marketing and consumer insights to IT, all departments must work closely together and leverage the power of data."
says Global Consumer Insights Director; Pernod Ricard, Florence Rainsard.
But as organizations put the customers at the center of everything, Data analysts are pressured to find pearls of insights within growing datasets while ensuring they don’t miss any essential insights. This is made increasingly more difficult as datasets grow. From data scarcity a decade ago, brands and CMI teams are now at risk of drowning into too much data.
To this point, Statista predicts a continued surge in the volume of data created, hitting 90 zettabytes by 2022 and doubling by 2025. With the vast amount of data created daily, analysts face the huge challenge of deep diving into various data sets to draw valuable insights and inform business decisions.
Manipulating these fast-growing data sets takes a lot of time for analysts. Consequently, a huge amount of data is not analyzed due to the lack of time, resources and manpower dedicated to data analysis and this implies that potential actionable insights are being lost.
Mike Gualtieri, VP, Principal Analysts at Forrester says:
This is where AI comes in, allowing us to perform deep analyses at scale.
Tip: Learn how Meltwater uses AI and check out Meltwater’s AI Writing Assistant
Introducing Discovery BETA, our brand new AI-based Insight Assistant
Today, we’re excited to introduce Discovery BETA, our new AI-based Insight Assistant, following months of successful private beta tests with a number of our clients.
Discovery BETA is the powerful engine that analysts need to assist them while exploring their data sets more systematically and efficiently, resulting in greater time savings and improved data analysis quality. By running multiple proprietary algorithms automatically on their datasets 24x7, Discovery BETA does the heavy lifting for them and ensures they find insights they might have otherwise missed, making them aware of unusual changes and shifts in order to deep dive into them to validate / invalidate those changes.
"Discovery helped us find a rapidly growing event that we were not aware of. It can help us to save lot of time when we need to understand what’s trendy at the moment, particularly activities initiated by consumers or competitors."
Senior Social Listening Planner
What does it look like?
Today, on its first version, Discovery BETA takes the form of a stream of learnings built on the fly, displaying cards that will highlight what has been detected by the system. It analyzes the displayed queries of a workspace, in order to highlight for instance:
- a hashtag, keyword or an emotion that has been spreading for a few days
- a heavier trend over one month
- a new growing cluster of images
- a very successful set of posts, etc.
For each learning highlighted by the system you’ll get several interesting things:
- A sentence explaining the context of this learning so that you can easily understand why this has popped up.
- An access to a detailed view so that you can deep dive into this learning and confirm if this is an important insight to look at.
- You’ll have the possibility to save this detailed view in a new or existing insight page to keep monitoring the trend during the next days or months.
- You’ll be able to share this page or a snapshot of this page as like any other insight pages to disseminate this insight to other team members.
Why is this fundamental for data analysts?
"Discovery is a fascinating feature, both for its ability to identify relevant information and for its accuracy. It simplifies the task of analyzing and identifying drivers of conversations with completeness and relevance. The potential of Discovery is immense, and it’s a major asset for anyone involved in social data."
Jean-Baptiste Mac Luckie
Senior Market & Business Insights Manager
"Discovery is very easy to use and perfect for marketers and strategic teams to focus on the most relevant information without requiring analytical skills, saving time and encouraging capability adoption."
Angela Vicente Moreno
Global Digital Insights & Analytics Excellence Manager
The main benefit for analysts will be to save a huge amount of time:
- exploring their data set as Discovery BETA points out any change in statistical patterns to facilitate their day-to-day work
- understanding these learnings as it provides the necessary context to better understand why this learning popped up
"This new and powerful feature allows our analysts to save a tremendous amount of time."
Deputy Head of the Press Office
Ministère de l'Economie, des Finances et de la Souveraineté Industrielle et Numérique
It’s also a huge help for data analysts to ensure to discover insights they might have otherwise missed. That way, they are pretty confident in the fact that they are providing all insights needed to inform their organization’s decision making.
Moreover, it leverages our proprietary Insight Pages Technology to visualize, provide a deep dive of the analysis and disseminate the insights. Clicking on a card will generate an insight page on the fly detailing the specific data point. You will be able to save this page as an Insight Page in order to keep monitoring a detected trend or to share it across other teams.
Coupled with an advanced data structuring, our new AI-based Insight Assistant, will allow you to have a very strong consumer intelligence program allowing to surface rich, deep and powerful insights without spending hours and hours to analyze the data. Your day-to-day life will be easier than even!
What kind of algorithms is Discovery based on?
Being analysts ourselves for a long time, we know how critical it is to find relevant pearls of insight. That’s why we wanted to focus our first efforts developing useful advanced algorithms. Detecting emerging terms that were not trending before in your data set is one of the most advanced algorithms available on the market. Thanks to this algorithm, the system is able to detect terms like keyphrases, names, entities, hashtags, affects or even emotions, topics that were not trending before. It’s a huge help for analysts to point out new trends or even a bad buzz as it is able to detect positive or negative posts.
Our advanced algorithms also offer brand new capabilities to see at a glance clusters of images thanks to our brand new Computer Vision capabilities that we integrated directly into our new DiscoveryBETA tool.
We also offer algorithms like detection of volume spikes to spot volume changes, either negative or positive, that occurred within your dataset, and also identify viral posts that are highly engaging.
And this is just the beginning! We’re already developing more algorithms to expand the scope of Discovery BETA. As we do, its technology will grow and learn to highlight more and more relevant and actionable insights, so that you can perform smarter, better, and faster at work. In short, your assistant will grow to be smarter and smarter.
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