INTERNATIONAL. M1nd-set Generation is to launch a business intelligence service that aims to provide a single access platform for different types of data.
The ‘B1S’, or ‘Business 1ntelligence Service’, encompasses data on consumer behaviour, sales, traffic and macro-economics. The service offers subscribers access to these four data types through a single portal. B1S aims to offer global, regional and sub-regional analysis, m1nd-set Generation said.
“The power of this tool is that it provides all the relevant data from one source where subscribers can cross reference the information on the same page in a user-friendly and interactive way,” said m1nd-set owner and CEO Peter Mohn.
He also highlighted the accuracy of the data. “For air traffic data for example, there are databases out there, but many do not include direct sales from the airlines, which reflects over half of all flight bookings around the world,” he noted.
Generation CEO Frederik Lindh commented: “We have been presenting this new initiative to stakeholders in the industry for the past few months now and there is enormous interest in the model. Sourcing the data for the industry sales and analysing the global industry turnover is an extremely complex exercise.
“With the assistance of business analytics expert Dr Alex Seret and his team we are now improving the Generation model, both how we estimate missing data and also by adding new techniques and models for forecasting. This sophistication process makes us more efficient in how we handle, extract and present the data.”
M1nd-set’s shopper behavioural data, which is based on interviews with travellers at airports around the world, forms one of the key aspects of the service. It includes shopper insights for all categories and sub-categories; m1nd-set segmentations; path to purchase; reasons to (and not to) purchase; footfall and conversion rates; shopping basket value and technology and communication touch points, among other aspects.
The sales data is organised by region, category and SKU in value and volume as well as custom made KPIs that enable clients to monitor their position in the market against competitors in the same category.
The traffic data forecasting system will be based on strategic partnerships with key suppliers, the research company said.
Macro-economic data will encompass GDP growth, inflation, unemployment, payment balances, exports, imports and exchange rate data as well as other economic indices and information such as tobacco prices around the world or customs regulations. Currency fluctuations will also be highlighted, showing how exchange rates influence shopping behaviour.
