Extends Capability of its Advanced Analytics Platform to Support the Needs of the $78 Billion Beauty and Personal Care Market, Upended By Multiple Market Dynamics Including COVID-19, eCommerce and Direct to Consumer Trend.
NEW YORK – Nov. 17, 2020 – Signals Analytics, the next-generation advanced analytics platform that leverages external data to uncover trends and predictive insights, today unveils a comprehensive offering for the Beauty and Personal Care industry. As a result of significant changes in consumer needs and preferences resulting from the COVID-19 pandemic, the dramatic growth of eCommerce and the emergence of Direct to Consumer brands, the Beauty and Personal Care market is experiencing unprecedented shifts that is forcing a fundamental rethinking of how they go to market and engage with consumers. This requires a keen understanding of emerging trends and consumer preferences that can only come from analyzing external data at scale. With today’s product announcement, Signals Analytics answers the need, providing a business-ready, configurable advanced analytics solution designed specifically for the Beauty and Personal Care market.
For example, explained Kobi Gershoni, Co-Founder and Chief Research Officer of Signals Analytics, there were two companies that recently faced a similar challenge of how to capture a younger demographic purchasing beauty products online. One approached Sephora with a moisturizing cream hoping the online retailer would feature and promote the product, and was rejected due to their belief that the product claims and messaging would not resonate with Sephora’s customer base. Another brand, leveraging insights extracted from the Signals Analytics platform, also approached Sephora with a moisturizer, but focused its marketing message on hyaluronic acid, an ingredient associated with glowing and uplifting skin, claiming on its product label as having three times more hyaluronic acid than the competition.
“Not only did Sephora agree to take on this product, but they featured it on their homepage for weeks, driving significant online sales volume. This outcome was only possible with the foresight on the best product positioning, and this came as a result of being able to surface insights from a very broad connected data set that included voice of the customer, sales, product reviews and more, which Signals Analytics provides,” says Gershoni.
The Signals Analytics solution for Beauty and Personal Care brands includes a Market Overview, which provides cross-category analysis that helps business leaders understand what is driving innovation and consumer demand across the industry, down to the attribute level. In addition, Category Deep-Dives for Fragrance, Skin Care, Hair Care, Body Care, Body Hygiene and Cosmetics are available, honing in on granular analyses of the brand, patent and consumer landscape, as well as analytic models that surface white space opportunities, and scorecards that assess competitive trends, purchase drivers and more.
Underpinning these models is a strong data foundation, that can ingest any internal or external data source at any scale, and patented NLP and artificial intelligence that extracts context and predictive insights with very high accuracy. Businesses are able to configure the deployment to suit their business needs; the API and data mart seamlessly integrates the connected, enriched and contextualized data sets into a native data science or analytics environment.
“The benefits of connecting external data sets is pretty well understood, but when it comes to deployment, most analytic projects fail,” says Guy Cohen, Signals Analytics’ Chief Product Officer. “Signals Analytics makes it easy, incorporating all the elements of a data fabric, so that multiple stakeholders across the enterprise – from data and analytics teams to consumer market insights leaders, brand managers and marketers – can benefit from business-ready analytic models and configurable analytic frameworks that allows the different business teams to create their own views and end up with the type of actionable intelligence they need to drive long-term growth.”
The connected data set includes product reviews and product ratings from Macy’s, Sephora, Ulta, Amazon, Target, Walmart and other e-commerce sites, as well as Nielsen, IRI and Profitero and other third-party syndicated data along with voice of the consumer, key opinion leaders, patents, research papers, blogs, forums and more. The patented, semantic NLP performs at greater than 90% accuracy, far above industry standards.
With next-generation advanced analytics, Signals Analytics powers the future of market intelligence with the scale and speed of AI. The configurable data platform connects and classifies countless rich, external sources into unified contextual data, and augments analytic applications with unparalleled accuracy and scale. Patented machine learning, NLP and data automation technologies leapfrog traditional approaches of data collection and management to help organizations maximize the impact of advanced analytics and harness the power of external data to drive successful business outcomes. Business users, consumer and market insights teams and data & analytics organizations leverage the platform to surface powerful trends and predictive insights and benefit from business-ready applications and integrations of the data into their business intelligence environments. Trusted by an impressive roster of global brands including Procter & Gamble, Nestle, Johnson & Johnson, Bayer, Roche, Mars and others who experience higher sustainable growth, faster time to insight and other data-driven benefits, Signals Analytics is redefining the world of market intelligence. For more information visit www.signals-analytics.com