How predictive intelligence is driving real change across industries
From spotting trends to surfacing breakthrough ideas that traditional methodologies are prone to miss, predictive intelligence methodologies deliver a host of benefits for marketers looking to make every call the right call throughout the development cycle.
Improved customer insights
One of the most important characteristics of predictive market research is the methodology’s ability to mitigate the impact of the various biases that undermine the veracity of traditional market research results. The way predictive intelligence surveys are designed, particularly the prediction market model, works to reduce rational response bias, among others, helping to deliver improved consumer insights. The blend of qualitative and quantitative data collected during predictive research helps marketers and insights professionals go deeper into the motivations and rationales behind consumer behavior and preferences, revealing hidden winners and sharpening data-backed decision-making.
Competitive advantage
Predictive intelligence gives decision-makers the ability to predict future trends, consumer behavior, and preferences with a proven 90% accuracy rate, 3 years out and beyond. This presents an unparalleled competitive advantage when it comes to the strategic and timely investment of resources into exactly the right idea, at exactly the right time.
Proactive decision-making
An ability to “see the future” with 90% accuracy allows companies to proactively anticipate and take action to capitalize on future trends, needs, and preferences. With the kind of insights predictive intelligence provides, decision-makers remain firmly ahead of the curve.
How CRG leverages predictive intelligence using prediction markets
CRG’s predictive intelligence platform tests concepts, ideas, and products in a gamified prediction market. In a prediction market, participants participate in a betting game where they are challenged to bet virtual currency on how they believe others will respond to the concept under testing, with every bet justified by a qualitative rationale. Participants are able to self-select topics and areas about which they already have tacit knowledge, further improving the quality of their responses. The data collected from the prediction market is quantified by a validated behavior-based algorithm, delivering the sum judgment of all participants in the form of a percentage-based likelihood score, for example, “young mothers are 85% likely to purchase this product”. CRG’s HUUNU predictive intelligence platform is able to predict not only the size but, critically, the timing of trends, future needs, and preferences.
Conduct market research in the new age by using predictive intelligence
For over a decade, CRG has been delivering industry-leading predictive market research solutions to Fortune 1000 brands. By leveraging a validated prediction algorithm, combined with a gamified user interface, CRG's proprietary platform, HUUNU®, takes advantage of the collective judgment of a target audience to predict future trends, consumer behaviors, and preferences with 90% accuracy.
Find out how to make every call the right call with CRG Predictive Intelligence now.