Research done worldwide on corporate growth reveals that top performing companies in almost every industry (a) showed positive growth even when the industry de-grew as a whole and (b) did so by a fair margin, between 5 to 12%. What is startling is that performance efficiencies accounted for only 35% of their growth – 65% of their growth was accounted for by the very strategic choice of markets that they made. Clearly, they are doing something robust in their approach to markets itself than the lesser-performing companies.
It emerges that companies with an ‘averaged out’ view of their markets are increasingly missing out on growth opportunities. Macro-level market analysis is akin to painting all markets with a single brush-stroke… completely obliterating all the heterogeneity that exists below.
This also leads to companies tending to bucket huge chunks of markets as high, medium or low-growing. It obscures hidden pockets of high potential in low-growth areas/segments, which need special resource allocation. A fine-grained view of markets – which entails benchmarking growth at a granular level – is the only way for meaningful resource allocation that checks the effect of all competitive market forces.
Granularity is especially relevant to India, where diversity abounds – consumption and consumer behavior varies significantly between neighborhoods in urban centers and between villages, due to our historically erratic economic planning. The BrandIdea Application therefore takes an approach of celebrating such vast diversities by customizing actions with automated Discovery, Diagnostics, Predictions and Prescriptions.
The BrandIdea Business Analytics Product is distinctly unique. We have been modeling granular data assiduously for the last eight years – painstakingly, from the bottom-up — across 6 lakh villages, 8000 towns and 2 lakh neighborhoods of India. We use an array of data-science techniques to generate powerful and compelling granular analytics, which make actionable insights literally pop out of the screen, with the help of versatile data visualizations.
Since the resulting interventions are customized and intense at the micro-level, there is minimal wastage of marketing and sales effort, as against a top-down, trickle-down approach. Also, these efforts drive higher growth by aggregating the effect of customized actions as against the diffused effect of top-down implementation.
At the micro-level, the multiplicity of these data points result in insightful Predictive and Prescriptive analytics, leading to surprising revelations that answer queries which traditional research would have struggled on. Such insights would not have emerged but for the Granularity of data and analytics.