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FAQ’s

FAQ’s
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JARGON BUSTERS

What is NLP?

Natural Language Processing (NLP) put most simply is the field of using computers to understand and analyse human language (inclusive of sarcasm, colloquialisms, emojis etc.) to gain an accurate depiction of its content and sentiment. It means we can read and make sense of millions of pieces of consumer generated digital content within a matter of seconds.

What is TPV?

TPV is a scientific ranking metric that helps brands identify which trends to prioritise for action. It assigns a comparative value to each of the thousands of trends within a category, enabling trends to be ranked objectively based on their predicted importance in +6 months’ time.

What is Machine Learning?

A subset of AI that includes statistical techniques that enable machines to improve at tasks with experience. We use Machine Learning to solve complex problems where defining the rules of what the solution has to DO is impossible. Instead of programming rules we teach the machine via examples, so we define what we EXPECT from it and the machine learns the rules. For instance, giving precise and robust rules why a Social media post is positive/negative/neutral is impossible. Instead, we manually label several thousand posts then make the machine learn the rules based on this training dataset.

What is AI?

Artificial Intelligence (AI) is a broad term for techniques that enable machines or programmes to perform what are deemed as ‘intelligent tasks’ otherwise performed by a human with much greater capacity and speed. We use forms of AI, namely NLP and Machine Learning, to turn unstructured Social data into meaningful business intelligence.
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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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