What data analysis tools are essential for competitive intelligence research in Market Research?

It may seem like you can scrape the web after that course you threw your money on, but trust me web scraping needs a lot of work. Especially, if you want to work with Instagram. The first thing you need is a really good proxy server, get help from someone who understands coding and you need to set this up in python. Once that is done, there are a bunch of tutorials, etc. that can help you achieve the results you're looking to achieve from social media scraping. I am going to say this though, selenium is way easier to work with. It could also be because of my system settings, but selenium is my go to when I want to scrape from social media.

Most important is to gather reliable data first. There are so many analysis tools out there, and more will come with AI being the "centre of gravity." We mustn't forget though that reliable data and human intelligence are key to any useful market research (including competitive intelligence research).

It is not ethical to collect data without seeking permission. It might increase the chance of cyber risk if the data falls into wrong hands.Sensitive information of a company might also get exposed such as price, products and features, reviews, rating, traffic etc. Company therefore would be unwilling to share sensitive data at their own website in the risk of data theft.

Tools like Tableau, Power BI, and QlikView are crucial for visualizing data and uncovering trends and patterns. They allow for the creation of dashboards and reports that can easily be interpreted and shared.

Text analysis tools empower businesses to gain valuable insights into consumer sentiment and market trends by deciphering vast amounts of unstructured text data. By harnessing the power of these tools, companies can make data-driven decisions and stay ahead in the competitive landscape.

Tableau is one the best data visualization tools as its very efficient in analysing large data sets. It can be used for visualising large amounts of data into dashboards and other graphical forms like gantt charts or scatter plots which makes it easy to read and interpret data and analyse it effectively.

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One of the best ways to get ahead in whatever space you are operating is to learn from others' experiences. Competitive intelligence platforms can help benchmark your marketing strategy against competition, compare the share of voice and customer relatability. Check out @Locobuzz for a start and harness the power of competitive intelligence.

Tableau is a very user-friendly visualization tool for building dashboards using larger datasets. It is offered in both Public and Paid version for easy accessibility in analyzing larger amount of data and presenting them in a crisp manner. It helps in easy dashboard making with a convenient option of drag and drop in building effective interactive dashboards. Story boarding in Tableau helps in presenting key insights to the stakeholders effectively by taking less time in preparing the same.