Brew & Braai: Sizzling Insights from South Africa's Market Research landscape!
In this month's featured article, Geo Intelligence Corp (GeoInt) explores how businesses can leverage GeoAI for success ??
I'm also featuring:
Special thanks to Livingfacts (Pty) Ltd for their take on "Humanness as the next brand differentiator" and to Frontline Research Group for their incredible work with Project Last Mile ??
Navigating Data Seas: Lessons to better leverage GeoAI for business success
“Water, water everywhere, Nor any drop to drink”. Immortal line from “The Rime of the Ancient Mariner” by Samuel Taylor Coleridge. The speaker is a sailor on a stranded ship that bemoans the lack of drinking water despite being surrounded by? sea water. This timeless statement has been extended to apply to any situation where deriving value from a plentiful asset is frustrated or well nigh impossible.
In this day and age, there might not be a greater truth spoken about data!
The Modern Data Dilemma ??
Since the advent of the industrial revolution, when efficient throughput through automation was the order of the day, business leaders have been focused on leveraging data and metrics for continuous improvement and optimisation. Books were written about the subject and buzz words like Kanban and Kaizen all permeated our vocabularies as organisations looked towards improved margins through removing waste. All of this was based on data, meticulously collected and painfully analysed data, followed by rigid implementation of insights and recommendations.
Over time, manual time-and-motion studies gave way to automated instrumentation and control systems, which in turn matured into industrial internet of things (IIOT) sensors as intelligence moved onto the edge (from the cloud). All the while, more and more data was getting easier to collect – not always to analyse.
The Rise of Dark Data ??
Other business sectors followed suit as the demand for and creation of data skyrocketed. The consumerisation of IT brought billions of connected devices, each generating its own data about people and things. In the age of digital natives, ubiquitous connectivity has transformed social media into active listening posts for consumer sentiment and preferences.
?As known markets saturated, businesses became increasingly in need of new products and markets. Enter the hyper-scalers who have led the way for translating online services into hyper-granular “market of 1” intelligence. More and more data is being created by consumers as they go about their daily scrolling, listening or posting.
Meanwhile, organisations continue to produce massive amounts of data, with studies showing that up to 90% is "dark" — created and stored without being used for analysis or decision-making. In our Location Intelligence work, we often encounter businesses that generate large volumes of data without realising its potential value. Though not technically dark, this data exists without a clear purpose and remains untapped.
As data creation grows, so does the need for competitive intelligence, differentiated products, and unique value propositions. Digitisation has lowered barriers to entry, making competition fiercer than ever across industries.
The Need for Competitive Intelligence ??
Consultants and innovators have built entire businesses around helping organisations make sense of their data. We've progressed from executive information systems to business intelligence, advanced analytics, predictive analytics, and now the promise of cognitive analytics. Today, we are entering the exciting early stages of Artificial Intelligence (AI) and geospatial AI (GeoAI), which not only enhances data analysis but also discovers and creates new data.
Organisations are eager to monetise their data—some using it internally to enhance strategies and insights, others externally, seeking to turn data into new revenue streams.
While certain sectors have excelled at internal data monetisation, many still struggle with external opportunities.
With over two decades of experience working with clients generating vast amounts of data, we’ve seen both impressive successes and significant challenges, from misreading market needs to underestimating product complexity. Drawing from these experiences, we’ve identified five critical areas that drive data monetisation success, especially when GeoAI is part of the solution.
5 Lessons to Better Leverage GeoAI for Business Success ??
Lesson #1: The Basics still matter and must be done right
Regardless of how new, fancy or sexy the data tools are – the basics of data management and governance simply must be in place. Ideally data governance, data residency and ownership and data cleansing rules should be mature. Garbage-In-Garbage-Out still applies – no matter where the server sits or what ground breaking tools are used! The death knell is when two business leaders arrive at the same executive meeting with different answers to the same question! If this happens – stop, correct and start again.
Lesson #2: Invest in the right resources
Data management is rapidly becoming a very expensive game. However, incorrect strategic decisions made on compromised or incomplete data could be even more expensive. Trying to prepare, protect and monetise data on a shoestring and as a secondary priority will almost always create rework and unhappy customers (internal or external). Identifying and investing in key tools, platforms, skills and partnerships (generally for skills) is a key part of the risk mitigation actions.
Lesson #3: Expand your (data) horizons
While large organisations often benefit from external service providers for research, these are typically one-off engagements, such as an annual strategy refresh, with ongoing reporting relying on internal data. We’ve seen the greatest value come from combining an organisation's data with other relevant sources. For example, analysing footfall data alongside point-of-sale information can reveal customer movement patterns, or using demographic and credit data can provide deeper market insights. At Geo Intelligence Corp (GeoInt) , we focus on integrating multiple, seemingly unrelated data sources, making connections clearer through visualisation. GeoAI offers great potential for uncovering location-based insights by linking these datasets.
Lesson #4 : Light up your dark data
At Geo Intelligence Corp (GeoInt) ?we light up our customer’s data through enriching it with location information. We believe that everything happens somewhere and that lighting up dark data through location will re-imagine the way that all strategic decisions are made and executed. We have seen data “come alive” when the location dimension is accentuated. There are other dimensions to use, but we recommend location being amongst them as inherent in location is movement and therefore physical journeys.
Lesson #5 : Visualise-Strategise-Optimise
Over the years of visualising data for strategic decision making, we have witnessed CEOs literally cross the floors of boardrooms to interact with a map! A map showing how his customers move (privacy protected) as they visit his stores and those of his competitors. Visualisation of data , augmented by conversational AI’s that can understand questions about location, creates insights that inform strategic assumptions and hence? create more implementable strategies. Visualising the impact of the strategy thereafter closes the loop allowing for refined strategic assumptions and a tighter coupling between strategy and execution. Visualisation brings data to life.
About GeoINT
Geo Intelligence Corp (GeoInt) has been at the forefront of geospatial intelligence for over 2 decades, rethinking how strategy is designed and implemented by leveraging geospatial insights for the benefit of both business and society. Our expertise empowers organisations to make informed decisions, optimise operations, and uncover new revenue streams through advanced location-based insights and solutions
Ready to explore how Geo Intelligence Corp (GeoInt) can elevate your business strategy? ??Reach out to them at:
??Email: [email protected]
??Website: www.geoint.africa
Braaibroodjie Index
With Heritage Day ?? ?? ?? still in our memories, I'm sure many lit up a fire and made some braaibroodjies. August was a quiet month for the Index as the price of braaibroodjies rose by +0.7% (headline inflation was +0.1% and food inflation was +0.2%). On a year to date basis, the price of braaibroodjies have increased by +6.1%, headline inflation is up +2.9% and food inflation is up only +1.2%.Drivers of the monthly increase included a 3.3% jump in Tomatoes and a +1.6% jump in Bread. Onions were -2.6% lower ??
?? Big thanks to Johann Biermann, CFP? for sharing! Johann loves economics and to braai! Just made sense for him to start tracking the price of a braaibroodjies.
For my non-South African readers, a braaibroodjies is two simple slices of government-issue white bread sandwiching a combination of cheese, tomato and onion. Over time, they evolved into a must-have delicacy, reflecting the creativity and culinary flair of the braai (barbeque or grill) culture.
Is synthetic data the future of market research ?
Recently, there’s been a lot of buzz around the concept of “model collapse” in AI - where AI systems degrade because they rely too heavily on AI-generated data. ???? I came across an insightful article by Aaron J. Snoswell that dives deep into this potential pitfall. (https://lnkd.in/dDP9h7xA)
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But here’s a thought: Could the same risks apply to the consumer research industry? ??
As synthetic data becomes a popular tool for consumer insights, we need to be cautious. If we lean too heavily on synthetic data - generated based on existing patterns rather than real human responses - we could face similar issues.
Here’s how:
1. Data Quality: Synthetic data might miss the nuances of real consumer behaviour, leading to less reliable insights over time.
2. Diversity: Over-reliance on synthetic data could perpetuate biases and limit the diversity of perspectives we capture.
3. Feedback Loops: Models built on synthetic data could become overly focused on existing patterns, ignoring emerging trends or changes in consumer behaviour.
So, how do we avoid a “model collapse” in consumer research?
?? Balance is key: Use synthetic data as a complement, not a replacement, for real survey data.
?? Stay grounded: Continuously update models with fresh, high-quality human data to keep insights relevant and accurate.
?? Embrace diversity: Ensure your data sources are diverse and representative of all consumer segments.
By being mindful of these risks and strategies, we can harness the power of synthetic data without compromising the quality of our insights. Let’s keep the consumer research industry moving forward, grounded in reality! ????
Is Humanness the next Brand differentiator?
All organisations are looking for ways to stand out from their competitors and be seen as different and unique.
With the growing use of technology and the strong focus on AI to drive efficiencies and reduce costs, technology is a necessity for business but perhaps only a differentiator for a limited period.
Livingfacts (Pty) Ltd believes that the future Brand differentiator will be “human-centric technology”. In future successful organisations are going to be those that use technology to enhance efficiency while leveraging the emotional intelligence and empathy of humans to create meaningful experiences, instead of pitting one against the other.
Some ideas on how this could be achieved:
??Support customers to enable them to use these platforms in the most effective and beneficial ways
??Personalise the technology and data usage, making it relevant to each individual.
??Protect personal information and transparency on how collected data is used.
??Simplify processes and eliminate complexity
Customers are wary of the potential risk and, at the same time, seek easy and accessible ways to explore products, make purchases, and receive after-sales service and support. Building trust and establishing a human connection will be essential in the age of technology and “humanness” could ultimately become a brand differentiator.
How human is your company? ?? Isn’t it time to ask you customers what they think?
Livingfacts (Pty) Ltd is an independent, full-service B2B research and insights company and have more than two decades of experience. Livingfacts provide bespoke research solutions aimed at helping businesses understand their B2B customers, Corporates, SMEs, stakeholders, and suppliers. Livingfacts operate across Southern Africa, with capabilities extending into East and West Africa.
If you want to ensure that your business remains relevant and meet your target markets’ changing needs, please contact:
Marylou Kneale on 082 807 4043 or [email protected]
Heidi Clowes on 082 562 9111 or [email protected]
Project Last Mile
By Frontline Research Group in support of Project Last Mile ??
Supporting Ministries of Health in Africa to strengthen health systems through research has been a key part of Frontline Research Group's journey for over a decade.?
It's been an incredible privilege to be involved in projects in countries like Malawi, South Africa, Ivory Coast, Sierra Leone, Lesotho, and Mozambique, and we look forward to expanding our efforts to make an even greater positive impact through research.
This upcoming webinar will be both fascinating and informative, featuring passionate experts, including James Flood , who leads our Route to Market solutions across Africa.?
Don't miss the chance to register for the webinar and hear inspiring success stories on how the Private and Public sectors can collaborate to drive change on October 3, 2024. ??
More about the webinar: Are you curious about how an integrated marketing and distribution campaign in Mozambique led to a 43% increase in active distribution points for government condoms, an additional 1.2 million condoms distributed above baseline, and a 29% rise in trust in their efficacy?
Join Project Last Mile and hear how harnessing public-private principles are improving access and demand for condoms in Mozambique. Discover how this The Global Fund -funded program supports the Ministry of Health in strengthening its public health system. Register today and be part of the conversation.
Moderator: Dr. Pretty Mubaiwa
Speakers: Amanda Manchia Jose Neves
Panellist: James Flood and more will be confirmed soon.
Thank you for reading, until next time! ??
If you're looking to navigate the complex world of market research and find the right partner, let's connect! ??? ?? [email protected]
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