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FAQ’s

FAQ’s
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APPROACH & METHODOLOGY

Who are Black Swan Data’s competitors?

We see ourselves at the forefront of a new research-technology market that uses Big Data and applied data science to unlock rich consumer insight and accurate trend predictions from digitally generated consumer content. Given we are one of the only providers of this type of capability, we compete against many different types of companies - all of which don't do exactly what we do or as fast as we can do it, but offer services that solve a similar use case for our clients.

What is Social Prediction?

Social Prediction uses AI and data science to go beyond monitoring what’s currently being talked about by consumers to accurately predict what will be most important to them in the future. We achieve this by building consumer defined category datasets from the ‘bottom-up’ and apply predictive models which can identify new and emerging trends 6+ months earlier than any other trend methodology.

Does your approach replace traditional research methods?

Our methodologies surface insight from ‘actual’, unprompted consumer behaviour via Social data. Our proprietary AI and algorithms use this data to identify and rank each and every trend in your category based on its future predicted value. This is how we scientifically distinguish between a fad and a trend, making it easier to determine when and how to act. Traditional research has both its advantages and disadvantages, but by asking consumers direct questions which are pre-emptive by design, you leave yourself open to blindspots.

What sectors do you operate in?

We focus on the Consumer Goods, Quick Service Restaurant and Travel sectors but our tools and processes have the potential to be applied to any sector. Put simply, if consumers are talking about a topic online, then we can analyse that conversation for business intelligence.

How are you different from social listening?

Social listening monitors what is currently happening in digital conversations about pre-determined subjects. We go beyond simply monitoring what you already know. We build consumer defined category datasets that allow us to surface and identify emerging and unknown trends that you otherwise wouldn’t know about. Our TPV algorithm scientifically ranks each trend by its future importance to the category, enabling you to identify white space opportunities 6+ months earlier than any social listening tool is capable of.

Which Consumer Goods categories do you cover?

We can potentially work in any category, so if your category isn’t listed here, fear not. Get in touch and we’ll see how we can help. Our expertise: Packaged Food; Non-Alcoholic Beverages; Alcoholic Beverages; Skincare; Cosmetics and Household.
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We’ll be in touch soon. Until then, here’s some reading to whet your appetite.

Turn on the news, read a newspaper, browse Twitter or any other news source, and you’ll find an article or a story about the growing Cost-of-Living Crisis. Everybody’s talking about it – particularly consumers.They are beginning to feel the pinch and are expressing their concerns at rising prices across online and social platforms on a day-to-day basis. Since the start of 2022, we’ve seen a 72% increase in US online consumer conversations related to economic anxiety. All CPG product categories are affected as prices begin to rise, and consumer behaviour begins to change. How is this effecting Snacking brands? Let’s find out… What’s happening in snacking? Using TRENDSCOPE, our end-to-end insight and innovation platform, we’ve tracked and analysed how over 69 million consumer conversations and 12,000 trends are being influenced by the Cost-of-Living Crisis. There has been a 56% increase in economic discussion connected to Snacking. As inflation continues to rise, consumers are vocalising their changing preferences and behaviours. But it’s not all bad news. While many consumers are looking for ways to save pennies, others are driven by much more nuanced sets of needs and motivations. There are products and brands for which people are justifying the price-tag. Growth territories in which consumers focus on affordability, not cost. Where the benefits or value of the product outweigh the expense. These are the areas in which Snacking brands have an opportunity to innovate. Where can snacking brands innovate? The chart below depicts the ten biggest growth drivers in Snacking. If you look closely, we’ve detailed the economic scrutiny within each of these drivers. While products related to Desire for Natural and Mental Wellbeing are driving the highest volume of price-based conversations, they’re also driving most of the dialogue around value and justifying the price-tag. These are two spaces in which consumers are willing spend despite their financial concerns. This is where they perceive value to be. And as such, these are the growth areas in which Snacking brands should innovate to keep up with consumers over the coming 12 months. Download the full report Our team of Insight & Innovation Consultants have put together a full report on how Snacking brands can innovate during the Cost-of-Living Crisis. It includes three strategic recommendations for how to innovate within the Snacking category, including: Which ingredients to include in future new product development How to position Snacking brands in line with consumer preferences How to optimise your current product portfolio and unlock greater sales Download the full report HERE

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The Cost-of-Living Crisis is here, and everyone’s talking about it, taking to online forums and sites to voice their frustrations. Since the beginning of the year, we’ve seen a 72% increase in online dialogue around economic concerns across all CPG product categories.

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We’re entering tricky economic waters. Rapid inflation has created a cost-of-living crisis on the heels of a pandemic, with consumers struggling to pay for everyday goods. As raw material costs rise and disposable incomes shrink, the CPG industry is starting to feel the squeeze.

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Cost-of-Living Crisis Report:
Innovating in Spirits & Liqueurs

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