Drowning in data? Stravito’s AI-powered insight platform could have the answer
Insights platform Stravito has developed what it describes as a new ‘exploratory search tool’: Atlas.
At a time when ‘now more than ever’ food and beverage manufacturers ‘need to integrate insights into their decision making process and move closer to their customer’ the platform has been developed with a specific problem in mind, chief executive Thor Olof Philogène explained. Too much data.
“Global organizations often have an overwhelming amount of market research and customer insights. So, there is a need not only to help organizations store and share these insights, but also to summarize them in a digestible manner. Atlas is a first-of-its-kind tool that has been purpose-built to solve this, allowing users to search for topics, navigate through large amounts of information and discover inspiring insights with ease, so they can make more informed business decisions,” Philogène told us.
To use Atlas, you can begin with a search as broad as a single word, such as ‘sustainability’. Utilizing a word cloud-style interface, Atlas then presents various clickable ‘orbs’ labelled with topics related to the search term. This allows users to progressively narrow the results based on associated topics.
Results are presented in a ‘digestible’ way, with key pages, top reports, videos and news links all in one place. The most relevant quotes and pages are picked up by ‘intelligent algorithms’, which means users can save time that would have been spent scrolling through lengthy reports by thanks to the automated synthesis of key insights.
“Atlas is an AI application using both natural language processing (NLP), machine learning and statistical algorithms,” Philogène detailed. “NLP is used to find topics from within the customer’s market research. These topics, as well as any brands or categories associated with the research reports, are then used by the statistical algorithm to surface the hidden relations between topics, brands and categories. The more research the customer adds to Stravito, the more such topics are found and the more connections are learnt.”
As part of Stravito's enterprise insights platform, Atlas works across all the reports and videos uploaded by customers as well as external news feeds that can be integrated into the platform. “As a result, users see a comprehensive picture from different data sources,” Philogène maintained.
Broad applications outside of the R&D team
The product was developed in response to user feedback requesting a tool that would help non-research teams across F&B businesses more easily identify, connect and integrate relevant market and consumer insights into business decisions, the tech innovator said. “Atlas has been designed to help any employee, in any team, easily navigate through large amounts of information and discover inspiring research that allows them to build their own insight narratives and make informed business decisions.”
He described it as a ‘multi-purpose tool’ that can be used by researchers, analysts and insights professionals to get a birds eye view on existing knowledge, reveal hidden connections between topics, see trends and build insights narratives. However, Philogène continued, Atlas is also a ‘great tool’ for marketing, brand, category, packaging, logistics, finance, sales managers and other business stakeholders who might not always be aware of the knowledge and insights data that exists. “For this audience, Atlas works as an inspiration to explore the new topic, receive relevant results in a digestible manner and more easily integrate insights into business decisions.”
Accelerating ‘ambitious’ growth
Stravito was founded in 2017 by market research veterans and former iZettle employees. Today, the start-up's customers include food and beverage brands such as McDonalds, Atria, and Carlsberg, alongside retail, CPG, healthcare, and telecommunications markets.
The company secured US$14.6m in Series A funding in September and, since then, Philogène said the group has been focused on building up its team and expanding its customer base. “We’ve continued to onboard a number of new clients in existing and new verticals, whilst appointing stellar talent to the team and building out new and exciting products like Atlas. Together these initiatives are accelerating our ambitious growth strategy and helping us to simplify knowledge discovery for more global organizations.”