Big Data, Product Reviews and Behavioral Economics
Let’s agree: almost everyone, even you, has sought out product reviews while considering a new purchase. So what does that mean for marketers and manufacturers?
Actually, there’s some great news here. By using online product reviews/social listening data and text analysis, we can now capture and analyze brand chatter. These techniques add to our existing arsenal of market research tools to understand the consumer and provide an immediate pulse into a product or brand’s performance. And when combined with other more traditional data sources such as survey data, this level of Big Data allows us to have a more complete picture of consumer behavior. Read our new paper for more on this topic.
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