In this fast-paced business environment, companies have to stay open to changes to succeed and maintain that success. This is why many businesses are coming up with initiatives to help them better adapt to emerging trends.
What Are the Emerging Trends?
In business terms, arising trends are newly introduced cultures, practices, and technology that improve existing ways of doing things. Arising trends in the current still in their infancy but are bound to get popular in years and can even become the standard. As they are better, a business can pick up on the right arising trends early on will have a competitive advantage.
Why Are Arising Trends Highly Pursued?
The competitive advantage is derived from the business being able to enjoy the benefits that the arising trends offer for a long time before other companies catch up. If the new trend is optimizing operations and reducing cost by 20%, the company gets to have this in a couple of years. It can redirect this savings accrued to meeting its other ambitions like research and development, marketing campaigns, and expansion. This gives it an upper hand over other companies in its niche. Today, companies are investing a lot of resources to adopt trends in analytics.
How Companies Leverage Arising Trends in Analytics for Their Success
Analytics has become a significant driver of business success over the last decade. As a new decade starts, companies embrace rising trends to gain exclusive, actionable insights to push their success even further. Here are the different ways businesses are leveraging arising trends in analytics.
Creating a More Competitive Business Plan
Arising trends in analytics gives any business that has adopted them an edge with its exclusive, actionable insights. Unlike conventional analytical tools, they provide insights that no other company has access to. Using this information, the business can create a more competitive business plan that puts them in a better position to emerge as the industry leader.
Designing More Impactful Marketing Campaigns
By leveraging the arising trends, a business can better understand its market and its desires. Consumers are always looking for excitement and something different. For a marketing campaign to be this and effective, it has to hit right. The exclusive insights provided enable the company to tailor its marketing campaign to have a lasting impact on the market. This works to solidify a brand’s position in the market.
What Are World-Leading Companies Doing Differently?
You must have noticed that world-leading companies are always introducing something new, and the other companies copy them. The main reason for this that they use emerging trends in analytics differently from other companies. Here is how:
Predicting Changes in Consumer Tastes and Preferences
Rather than battle to meet consumer demand gaps, world-leading companies always seem to introduce a product that creates demand by itself. This strategy is ubiquitous with top tech software and devices companies and has given them a unique advantage. The strategy works for them because they are always leveraging emerging trends to predict changes in consumer tastes and preferences.
Some time ago, all you needed was a smartphone that could take a good picture with one camera. When world-leading smartphone companies introduced telephoto and wide-angle cameras for their phones, they have become a standard. Now you despise a phone with only one camera, yet a few years ago you were perfectly fine with that.
About NetBase Quid
As a small or mid-size company, access to emerging trends in analytics might seem impossible for you. This is not the case as NetBase Quid is a sterling social analytics platform that offers every analytical tool you need and access to emerging trends. Their competence and breakthrough platform has led them to serve world-class companies like Coca-Cola, Lloyds Bank, and Saatchi & Saatchi, who use its social analytics tools.
