What are effective methods to define your spotting area and kickstart your market research journey?
Bring focus to a market research by defining the boundaries and scope of the analysis with the Scope definition.
This research template allows analysts to add, adjust or exclude the spotting area's name, description, keywords, geographical scope, article languages and types of articles to improve the initial set of signals that is gathered for the research. A good scope definition is crucial to automate the workflow and analyse a spotting area faster and more efficiently.
Bring focus to your research by defining the boundaries of the data collection
Review the Spotting Area Description Based upon the Spotting Area Name, the market intelligence tool has suggested a concise description of the spotting area. The description helps to identify relevant news, signals and stakeholders for your research. Click EDIT to optimize the description.
Select essential keywords Select max. 3 keywords that define the essence of your research. Those keywords provide extra weight to relevant news, signals and stakeholders.
Define geographical scope In case you like to limit your research to a specific geographical scope, select the countries you are interested in
Select language Minerva uses Multi Lingual data models to identify relevant articles. Select the languages your master.
Define relevant data sources In order to gear your research in a specific direction, select the news groups that best fit your research needs. Ask your admin to create custom news groups that fit your business environement. The platform administrator can create news groups that exclude specific news outlets. As an analyst, you can choose to enable or disable the exclusion of these news outlets.
FAQs
What is a good title?
The Title of a Spotting Area should reflect the market you aim to research, it can be a product (e.g. Plant-based Proteins), a technology (e.g. Precision Fermentation), an application domain (e.g. Vegan Cheese) or the combination (e.g. Plant-based proteins used for the production of Vegan Cheese). The title is as well important to easily find your research among other spotting areas.
How is the scope description generated?
DataScouts auto-generates a description of the market you want to research. The Title of the Spotting Area serves as an input cue to guide Minerva in generating a concise description of the markt as well as key assumptions about emerging trends, relevant stakeholders and expected shifts or forces at play.
It the Scope Definition important?
Yes, the Scope Definition provides the boundaries of the research and guides the platform in identifying relevant actors, news and signals. The information presented in the spotting area is filtered on the criteria selected in the scope definition.
Does DataScouts use Generative AI?
DataScouts uses Generative AI for translating a Spotting Area Title into a Scope Description using a natural language processing (NLP) model. When provided with a research topic as input, the AI model generates a descriptive scope based on probabilistic predictions derived from its understanding of language semantics, syntax, and contextual cues gathered from the training data. This process allows the generative AI to produce a coherent and contextually appropriate scope description tailored to any given topic.