What is the value of Big Data in consumer trends?

A new comprehensive solution will allow companies to learn about consumer habits, and thus be able to predict trends.

Collecting consumption data has made it easier for companies to predict trends and consumption habits. With the Internet, consumers spend much more time comparing prices, something that was not so easy before, and it is an efficient way to discover discounts or promotions. When searching, the user leaves numerous traces, gives numerous data about their tastes, preferences, etc. The users’ searches and the information given about their tastes, preferences, are data that are examined and analyzed by Big Data processing systems, capable of transforming them into useful information to discover consumption patterns and trends that at first glance would go unnoticed.

Big Data has revolutionized traditional market research based on obsolete and inefficient sociodemographic data. There is more and more talk of “postdemography” today, understood as the construction of demographic profiles in continuous transformation and defined not only by their static characteristics of gender, age, nationality but rather by their interests and their behavior patterns.

Closed generational generalities no longer define us. New perceptions and changes in attitude that define people are changing every day, every minute. Brands must have the ability to detect and follow them, to maintain a solid relationship, understanding their needs through products and services that really interest them. Currently, it is required and imposed to analyze the behavior of final consumers in real time, to know what their buying habits are, their consumption needs and behaviors to design immediate commercial strategies that help sell more products or services. Knowing reality immediately allows transforming it into immediate action that can translate into being the chosen option in a highly competitive market and positively positioning a brand or product. In the market you can find solutions to locate consumers and their preferences, based on the geolocated analysis of their activity on social networks. Through new profiles and consumption habits, he is able to map patterns of a postdemography.

This comprehensive solution also includes automatic systems – based on machine learning – for recommending the sale of products and services to the entire market of companies and freelancers. The solution is within a joint venture with INFORMA D&B that allows data to be shared from the entire business market, in Spain and Portugal, at the moment.

Silvia Banchini, CEO of inAtlas explains how her solution works. “It consists of three consecutive phases: data mining, analytics and new consumption profiles. The first of these, data mining, works together with the company to define and establish a customized group of sources from which to extract data, establishing daily, weekly and monthly frequencies, and from there establishing its own warehouse for data, Data Warehouse, with continuous updates and thus be able to work with new consumption patterns. Subsequently, the analysis is carried out, it is established that the intelligence and analytical processes on the updated information are improved to make the fastest and best informed business decisions and, finally, the third phase, called new consumer profiles, will allow us to discover the new profiles of consumers taking into account their activity on social networks and checking what they like and where they are according to the time of day, during the period of a week, month and even years ”. Data analysis, together with easy market research tools, allows inAtlas customers to implement and optimize their market strategies by knowing in advance the needs of users, market behavior and that of the competition.