In the era of informational technologies (IT) new solutions come to life, so those who use them can obtain competitive advantages. One of such innovations is crowd intelligence, which is developed through collaborative participation, social computing, and crowdsourcing. 

Alternative data arises as a result of crowd intelligence, the most relevant example of which is a survey. Alternative data obtained from a survey can bring multiple insights and fuel decision-making on all levels of the corporate hierarchy. 

GrapeData in A Nutshell

IT innovations related to surveys can bridge the gap between businesses and target audiences. For example, GrapeData is an online platform that uses crowd intelligence and alternative data to power the decision-making process with insights and enhanced awareness. 

GrapeData is easily accessible through its website ( Share your thoughts regarding tasks, target audience, and desired results with the GrapeData team and they will assist you all the way till the survey report is produced.

This online survey platform uses crowd intelligence to reach any target audience, anytime, anywhere in the world. For example, if you want to conduct a survey among the administrations of U.S. hospitals you may use crowd intelligence to gather alternative data with the help of contributors, who work with GrapeData software.

Measures Information in Real-Time

The mentioned unique software is used by contributors, the GrapeData team, and its clients to provide real-time monitoring of the survey intermediate results. It makes possible the creation of new indicators related to market performance, brand recognition, or product placement, which brings true innovations in decision-making.

For example, when a company launches a new product, real-time data related to the effectiveness of a marketing campaign may be crucial to the product reception. Besides, such alternative data can reveal latent market sentiments that may spur productive insights.

Provides a Company With the Capability of Operating Predictively by Using Alternative Data

The good news is that alternative data doesn’t contradict traditional data (like microeconomic analysis). It may be used as a supplement to or in conjunction with the traditional data, so long-term planning may obtain a new dimension of preciseness.

Within behavioural economics, customers’ behaviour is described as an important factor that influences demand in the market. Hence, consumers’ behaviour can be considered as a market force and alternative data about it may have additional value.

For example, despite the data obtained from traditional sources, brand perception may be superficial and ineffective. The reason for this may hide in the irrational behaviour of consumers that can’t be calculated by traditional economic methods. The possible way to gather such data is to ask customers about their opinions and needs, which can be done with the help of a survey.

Improves the Self-Knowledge of Your Company

Large amounts of data created with GrapeData’s software may improve the self-knowledge of your company. It reveals “hidden information” about how your company, brand, or product is perceived by your customers, clients, or partners. 

For example, though your sales are good enough some target audiences may not be fully satisfied with your products. Asking them about their preferences and tastes can be the right way to raise your sales even more.