Image recognition and trend spotting
Product development timelines within industries can extend over months or even years, but meanwhile consumer views and preference continually change, morph and evolve while the product is in development. By the time a product is released, a design created based on consumer feedback collected months before may totally miss the mark.
Consumers share valuable insights and data about their wants, needs, preferences and perceptions within millions of product reviews, blogs, forums and across social media. In fashion, beauty and consumer electronics, such feedback frequently refers to.an image of the product, assuming whoever is reading the comment is also seeing the image.
Computer vision is a very complex area, aligning deep learning, data mining, image/object recognition and semantic segmentation. The technology can actually see trends in consumers tastes based on the images they share online. Image recognition technology demand has grown from its humble beginnings in security to many other facets of business, from e-commerce to augmented reality.
When image recognition is used together with natural language processing (NLP) within an AI platform, companies can understand how consumers view their products via image attributes associated with consumer comments. In doing so, they can learn which product features and feature combinations are driving the strongest positive engagement.
Spotting emerging trends requires more than just listening; you must study consumer behavior. In fact, the actions of people can differ a great deal from what people may admit to doing. Obtaining valuable consumer insights involves gaining data by observing what users do from casual to professional interactions. It's best to conduct observations with the least interference with consumers’ natural, unbiased actions in the marketplace to gain insights into real behavior.
Analyzing online conversations across entire categories and avoiding strict focus on your specific brand leads to an accurate gauge of positive engagement for your product relative to direct competitors and substitutes. Machine learning and NLP efficiently analyze forums, blogs and social media platforms to distill online conversations.
Insights into product feature trends can drive more effective product descriptions and merchandising, highlighting the aspects that drive the most positive engagement. Tracking positive engagement around feature combinations over time can identify emerging trends to be considered in product design.
Marketing uses multitudes of technologies to engage customers and spot trends. Some of the latest technology scans brand logos within pictures posted across the internet from social media sites to Google images. Companies can find millions of images that depict customer behavior within the actions of the images, and with AI they can extract those findings into comprehensive, useful data about those millions of customer interactions.
As customers share perceptions and usage scenarios that impact them, you must have the right tools to effectively analyze millions of conversations to find the trends and positive perceptions useful throughout the product development lifecycle. With O360's Artificial Intelligence (AI)-powered consumer insights platform, you can analyze offsite conversations to recognize insights that could guide product development and marketing. O360 provides invaluable insights into why your product is purchased, as well as the consumer location, personality traits and reasoning. Moreover, our AI-driven consumer insights lead to increases in sales performance.The O360 image analysis platform delivers insights to product development teams that shorten development timelines and help product design evolve during the development process as consumer preferences change. Image recognition on its own is not enough. The power of the O360 platform is in correlating product feature combinations from images with the sentiment and engagement in consumers comments about products with those features. By combining image recognition and NLP based on consumer generated content, the O360 image analysis platform can serve as the foundation for successful launches of the next generation of products, solutions and services.