Using Big Search Data to Map Your Market: Marketing in a Digital Age
Markets today are flooded with an increasing number of products and brands, making it difficult for companies to track how their products compete in the market. Big search data allow companies to obtain valuable insights on market share as well as on key competitors. But collecting and analyzing vast amounts of data pose huge challenges. In this article, the authors describe how they used clickstream data to visualize competition in product categories containing more than 1,000 products. Both manufacturers and retailers can profit from their approach, which yields more meaningful information on customer behavior than traditional market research methods.