Abductive Analytics: Using abductive reasoning to derive accurate consumer insight
Market research and insight to overcome the changing environment brought about by the COVID-19 pandemic. Allowing us to better anticipate future consumer behaviour.
The COVID-19 pandemic means that retrospective consumer data is no longer an effective indicator of future consumer behaviour. The ability to generate assumptions for how similar people will behave in similar circumstances has gone. It is now vital that retailers, shopping centres, town centres, brands, banks and more, find a new way to access accurate consumer data and insight to inform strategy.
Abductive Analytics; based on Abductive Reasoning
At CARD Group, we have developed Abductive Analytics; a system based on abductive reasoning. Abductive Analytics looks at current and anticipated circumstances and events that consumers believe are relevant and identifies the likely impact on consumer behaviour.
Abductive reasoning has always been a necessary component of consumer research but instead, there has been an over-reliance on retrospective data. However now, the significance has switched from retrospective systems to prospective systems as we now navigate through uncharted waters.
Forward looking consumer insight unreliant on obsolete retrospective consumer data
Early adopters who are ready to progress to newer, more accurate systems will provide their companies with a significant competitive advantage over those who continue to use obsolete systems based on past data.
Any new systems still being derived from past data are likely to be variations on past products which are destined to be less effective in providing accurate consumer insight than those incorporating a forward thinking consumer mindset.
From time to time the systems that were previously seen as essential become so widely used that there is no competitive advantage from continuing to use them. Some systems still in operation today were designed for a less connected society more than 20 years ago. And while continuous updates keep some systems beneficial, others continue to be used because there is no obvious alternative.
An experienced analytics company providing insight to clients globally
At CARD Group, we recognised this opportunity three years ago and this has given us time to develop the systems that today’s markets will see as essential. As an experienced analytics house, independent of any single branded geodemographic profiling system, we are able to understand the benefits from using all existing systems and incorporate their values into new abductive methods to bring superior insight and competitive advantage.
We are committed to continuing to invest in our suite of products as part of the necessary solutions for ongoing consumer benefit. Over the years, we have developed a range of innovative systems for our global client base, designed to derive accurate consumer insight. Our systems have been designed to look forward, rather than backwards using past data, and for this reason will be key to the success of many of our clients navigating this new and challenging environment. Our clients are based across Europe, UK, Republic of Ireland, Northern Ireland and beyond globally.
If you would like to find out more about Abductive Analytics or any of our other consumer insight systems, please email firstname.lastname@example.org. We look forward to hearing from you.