Farsight® Market Monitoring is Tracking Transformed
From a Glimpse in the Rear-view Mirror to a Strategic Vision of the Road Ahead
The Challenge: How to use all the data at your disposal to develop a coherent, predictive view of the market dynamics and brand performance?
Market monitoring has never before been so critical, but many tracking programs just don’t deliver adequate ROI. Common complaints include large investments and cumbersome infrastructure, lack of data integration, and metrics that are not clearly or coherently related to business outcomes. Bottom line: Surveillance that should help companies respond deftly to business challenges feels too often like “lead feet,” impeding agile brand management rather than empowering it.
It’s time to rethink both the terminology and the toolkit. Effective market monitoring programs must become insight-rich, high-impact decision platforms that do much more than monitor market performance. They need to guide strategic course correction proactively and dynamically.
The Solution: A reconceived market monitoring approach that gives companies powerful decision tools to drive critical business outcomes
NAXION’s Farsight® Market Monitoring is designed to give clients the benefits of well-crafted, coherent performance tracking interpreted through the forward-looking lens of predictive analytics. Our integrative approach to market intelligence effectively synthesizes survey inputs and other data streams to give companies a broader view of the market ecosystem. And powerful models built from those critical inputs identify all the “metrics that matter,” enabling you to understand which market measures can be used to drive the destiny of your brand.
Programs Designed to Monitor Diverse Markets All Around the Globe — and Find Customers Wherever They Are
- Spanning global geographies and a variety of customer types, from consumers to business customers
- Tapping existing panels and customer databases or custom panels we develop and maintain for our clients
- Encompassing a range of products across a variety of industries, including Financial Services, Healthcare, Energy, Construction, Automotive, Home, and Digital Technology
- Designed with multiple data collection modalities in mind, including mobile, to ensure that we can engage with customers “where they live” for broad representation and context-specific insight
Timely, Effective Reporting that Empowers Bold Decisions
Powerful analytics need to be matched by powerful story-telling, custom-tailored and stakeholder-sensitive to ensure impact at all levels of the organization. We work comfortably with multiple data portals to accommodate existing structures, and collaborate closely with our clients to develop reporting conventions and templates that facilitate rapid dissemination of insights and inspire effective decision-making.
Smooth, Careful Transitions that Conserve Program Continuity
Even when tracking programs seem to have “broken down,” companies may hesitate to change horses or approaches because market monitoring benefits from measurement continuity. Well-built bridges are key to minimizing disruption and maximizing confidence going forward. We have a systematic approach to transition management which relies on principles of data science to manage the technical challenges that present themselves, and protocols for stakeholder engagement to manage the organizational anxieties they create.