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Signals Analytics Award Write Up

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Signals Analytics receives the Frost & Sullivan 2019 North American Data Analytics Technology Innovation Award

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Signals Analytics Award Write Up

  1. 1. FROST & SULLIVAN BEST PRACTICES AWARD Technology Innovation Award 2019 DATA ANALYTICS - NORTH AMERICA
  2. 2. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 2 “We Accelerate Growth” Contents Background and Company Performance ........................................................................3 Industry Challenges..............................................................................................3 Technology Attributes and Future Business Value .....................................................3 Conclusion...........................................................................................................5 Significance of Technology Innovation ..........................................................................6 Understanding Technology Innovation ..........................................................................6 Key Benchmarking Criteria ....................................................................................7 Best Practice Award Analysis for Signals Analytics ..........................................................7 Decision Support Scorecard ...................................................................................7 Technology Attributes ...........................................................................................8 Future Business Value...........................................................................................8 Decision Support Matrix ........................................................................................9 Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices .................................................................................................................10 The Intersection between 360-Degree Research and Best Practices Awards.....................11 Research Methodology ........................................................................................11 About Frost & Sullivan ..............................................................................................11
  3. 3. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 3 “We Accelerate Growth” Background and Company Performance Industry Challenges Globally, companies and their consumers are benefiting in unprecedented ways from the innovations that have sprung from the Internet and social media. A vast trove of data is now available to help brands reinforce their product decisions. While customers look online to procure information, they inevitably generate data related to their buying behavior in the process, which can help brands gauge their competitive standing, customer sentiments about products, and the upcoming market trends. On a holistic level, companies must stay aware of market developments to remain relevant in today’s competitive landscape, especially if the nature of their business keeps them in constant interaction with consumers’ daily lives. Companies in industries including consumer packaged goods, food & beverage, and fashion & apparel are highly vulnerable to shifts in market trends. Business leaders acknowledge that gathering insightful data is a prerequisite for framing a successful business strategy. However, with the amount of data being generated today, business leaders are finding it difficult to draw insights that will aid in actionable decision- making. The nature of data available from publically accessible sources is mostly unstructured, and it is at times highly difficult to gauge the trends emerging from such sources. The lack of actionable insights has at times resulted in failed product launches for brands that have unsuccessfully assessed the sentiments of their target groups, even after conducting elaborate product testing and focus group studies. Typically, 80% of new products remain on the shelf and shop floors for 12 months or less before getting pulled, and 96% of these products are failures. While this statistic highlights the need for better consumer research and understanding of competitive environments, it also reveals the need for better solutions that can deliver ground-level intelligence to the board room accurately and efficiently. Companies have realized the importance of generating insights from disparate data sources and bringing them to high level decision-makers, but the process of doing so remains largely flawed in terms of time and cost optimization in comparison with the value of the insights generated. Growing investment in data science initiatives among corporates has resulted in implementation of sophisticated data science practices, but a significant disconnect between data scientists and business decision-makers has hampered the optimization of business processes in line with the market insights. A comparison between the incumbent data analytics solutions and business needs shows that the process of feeding data into an analytics framework and getting the necessary insights leveraging the data is lengthy and does not yield specific business results. Technology Attributes and Future Business Value Industry Impact Signals Analytics, a data analytics company headquartered in the United States, has developed a solution named Signals Playbook™, a cloud-based augmented intelligence platform that uses unstructured, external data to aid business executives in decision-
  4. 4. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 4 “We Accelerate Growth” making. The platform’s unique design applies proven military principles of Open Source Intelligence to the consumer packaged goods, food & beverage, and life sciences industries. By utilizing the principles of military intelligence to product portfolio management and corporate innovation, Signals Analytics essentially detects signals from the noise, or, more simply put, identifies insights from unstructured data points. Using the data uncovered from market trends, customers can anticipate their target consumer-related trends, respond to consumer needs in real time, and drive omnichannel experiences that lead to revenue growth. Frost & Sullivan applauds Signals Analytics’ efforts in designing on-demand analytics solutions with the objectives and workflows of business leaders in mind. Signals Playbook™ serves as one of the most effective tools for business leaders to collect and analyze competitive intelligence; its design addresses the needs of analysts looking to drill down the datasets to enhance the accuracy of their insights, and for business executives looking at the data from a more holistic perspective of how the external market activities are expected to affect their business processes. Signals Analytics has outshone its competitors by designing a solution that perfectly serves the needs of analysts as well as business leaders. Product Impact Historically, the data that companies have relied on for building their products or to design their marketing campaigns was generated internally by the company’s own market research department, or it was sourced externally from consulting vendors. However, in the current market scenario, such data points have proven inadequate to judge the consumer mindset. Instead, much larger databases rich with holistic information can be built from external data sources. To arm businesses with external data, Signals Analytics maintains an outward- facing approach that interprets disparate data sources and analyses them using a central hub with preconfigured guided-decision models. These models generate insights that can act as an early warning system for instant notification of real-time marketplace developments. Frost & Sullivan believes that the highly accurate insights generated from Signals Analytics’ solution stem from its comprehensive coverage of multiple external data sources. Specifically, Signals Playbook looks at about 60 million data points at any given moment. These data sources include online posts, product reviews, and patent data, among others. Unlike some of the competing products, Signals Playbook allows clients to constantly keep a check on market indicators and changes in market trends to design and implement iterations in their policies and strategies. Visionary Innovation Both founders of Signals Analytics, Gil Sadeh and Kobi Gershoni, have served in military intelligence units for Israel and have since successfully translated those proven concepts into tangible products that can drive impactful business outcomes. Apart from the Signals Playbook platform, Signals Analytics also provides businesses with access to a team of professionals including industry analysts, statisticians, and data scientists that can help the companies translate data-driven insights into tangible business results. The platform helps companies market their products at each level of development, ranging from discovering a
  5. 5. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 5 “We Accelerate Growth” market opportunity and launching a product in response, to growing the product demand post launch. By providing professional services, Signals Analytics has made it simpler, even for companies with limited technical knowledge, to deploy advanced analytical solutions. It is widely acknowledged that the complexity of a solution is directly proportional to the functionalities integrated into it. This acts as an inhibitor to adoption for many companies who fail to develop in-house tech talent. Signals Playbook has thus been developed to address a varied range of business needs and to allow for easy design and deployment that will complement companies’ in-house data science teams with professional services. Financial Performance & Human Capital Signals Analytics was established in 2009 and has since raised capital of $55 million in 4 rounds of funding. Funding comes from prominent investors in Silicon Valley including Sequoia Capital, Pitango Venture Capital, Qumra Capital, and TPY Capital. In addition to investors, the company has also managed to gather an impressive clientele across industries, such as P&G, Nestle, KraftHeinz, Roche, Mars, Pepsico, and Johnson & Johnson. Apart from having an experienced leadership team, the company has also garnered support from seasoned industry experts and venture capitalists who serve on the company’s board of directors and advisory board. Some of the notable individuals associated with the company include Shmil Levy, Guy Yamen, Boaz Dinte, Isaac Hillel, Brian Kardon, and Major General Aharon Ze’evi-Farkash. Frost & Sullivan recognizes that Signals Analytics has been able to gather a strong and experienced team of senior leadership and investors, which has contributed towards making Signals Playbook such an effective and successful product offering. The company’s clientele is a strong example of this innovative product’s success. Conclusion Globally, brands face challenges while extracting actionable insights from unstructured data sets. Inefficient data analysis practices have hindered companies from extracting maximum value out of the data available on the public domain. At times, not being able to extract and analyze relevant data has discouraged companies from investing in data science and related practices. In light of these challenges, Signals Analytics has introduced Signals Playbook™, a cloud- based augmented intelligence platform that helps companies in making marketing and product design decisions in accordance with the most relevant market needs. Signals Playbook™, has been deployed by some of the biggest brands in various industries and is being used to monitor emerging market trends. Companies have effectively used it to make sense of the unstructured data gathered from disparate data sources across platforms. For its strong overall performance, Signals Analytics has earned Frost & Sullivan’s 2019 Technology Innovation Award.
  6. 6. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 6 “We Accelerate Growth” Significance of Technology Innovation Ultimately, growth in any organization depends upon finding new ways to excite the market and upon maintaining a long-term commitment to innovation. At its core, technology innovation, or any other type of innovation, can only be sustained with leadership in three key areas: understanding demand, nurturing the brand, and differentiating from the competition. Understanding Technology Innovation Technology innovation begins with a spark of creativity that is systematically pursued, developed, and commercialized. That spark can result from a successful partnership, a productive in-house innovation group, or a bright-minded individual. Regardless of the source, the success of any new technology is ultimately determined by its innovativeness and its impact on the business as a whole.
  7. 7. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 7 “We Accelerate Growth” Key Benchmarking Criteria For the Technology Innovation Award, Frost & Sullivan analysts independently evaluated two key factors—Technology Attributes and Future Business Value—according to the criteria identified below. Technology Attributes Criterion 1: Industry Impact Criterion 2: Product Impact Criterion 3: Scalability Criterion 4: Visionary Innovation Criterion 5: Application Diversity Future Business Value Criterion 1: Financial Performance Criterion 2: Customer Acquisition Criterion 3: Technology Licensing Criterion 4: Brand Loyalty Criterion 5: Human Capital Best Practices Award Analysis for Signals Analytics Decision Support Scorecard To support its evaluation of best practices across multiple business performance categories, Frost & Sullivan employs a customized Decision Support Scorecard. This tool allows our research and consulting teams to objectively analyze performance, according to the key benchmarking criteria listed in the previous section, and to assign ratings on that basis. The tool follows a 10-point scale that allows for nuances in performance evaluation. Ratings guidelines are illustrated below. RATINGS GUIDELINES The Decision Support Scorecard is organized by Technology Attributes and Future Business Value (i.e., These are the overarching categories for all 10 benchmarking criteria; the definitions for each criterion are provided beneath the scorecard.). The research team confirms the veracity of this weighted scorecard through sensitivity analysis, which confirms that small changes to the ratings for a specific criterion do not lead to a significant change in the overall relative rankings of the companies.
  8. 8. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 8 “We Accelerate Growth” The results of this analysis are shown below. To remain unbiased and to protect the interests of all organizations reviewed, we have chosen to refer to the other key participants as Competitor 2 and Competitor 3. Measurement of 1–10 (1 = poor; 10 = excellent) Technology Innovation Technology Attributes Future Business Value Average Rating Signals Analytics 9 9 9 Competitor 2 7 6 6.5 Competitor 3 4.5 7 5.75 Technology Attributes Criterion 1: Industry Impact Requirement: Technology enables the pursuit of groundbreaking ideas, contributing to the betterment of the entire industry. Criterion 2: Product Impact Requirement: Specific technology helps enhance features and functionalities of the entire product line for the company. Criterion 3: Scalability Requirement: Technology is scalable, enabling new generations of products over time, with increasing levels of quality and functionality. Criterion 4: Visionary Innovation Requirement: Specific new technology represents true innovation based on a deep understanding of future needs and applications. Criterion 5: Application Diversity Requirement: New technology serves multiple products, multiple applications, and multiple user environments. Future Business Value Criterion 1: Financial Performance Requirement: Potential is high for strong financial performance in terms of revenues, operating margins, and other relevant financial metrics. Criterion 2: Customer Acquisition Requirement: Specific technology enables acquisition of new customers, even as it enhances value to current customers. Criterion 3: Technology Licensing Requirement: New technology displays great potential to be licensed across many sectors and applications, thereby driving incremental revenue streams.
  9. 9. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 9 “We Accelerate Growth” Criterion 4: Brand Loyalty Requirement: New technology enhances the company’s brand, creating and/or nurturing brand loyalty. Criterion 5: Human Capital Requirement: Customer impact is enhanced through the leverage of specific technology, translating into positive impact on employee morale and retention. Decision Support Matrix Once all companies have been evaluated according to the Decision Support Scorecard, analysts then position the candidates on the matrix shown below, enabling them to visualize which companies are truly breakthrough and which ones are not yet operating at best-in-class levels. High Low Low High FutureBusinessValue Technology Attributes Signals Analytics Competitor 2 Competitor 3
  10. 10. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 10 “We Accelerate Growth” Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices Frost & Sullivan analyst follow a 10-step process to evaluate Award candidates and assess their fit with select best practice criteria. The reputation and integrity of the Awards are based on close adherence to this process. STEP OBJECTIVE KEY ACTIVITIES OUTPUT 1 Monitor, target, and screen Identify Award recipient candidates from around the globe  Conduct in-depth industry research  Identify emerging sectors  Scan multiple geographies Pipeline of candidates who potentially meet all best- practice criteria 2 Perform 360-degree research Perform comprehensive, 360-degree research on all candidates in the pipeline  Interview thought leaders and industry practitioners  Assess candidates’ fit with best-practice criteria  Rank all candidates Matrix positioning of all candidates’ performance relative to one another 3 Invite thought leadership in best practices Perform in-depth examination of all candidates  Confirm best-practice criteria  Examine eligibility of all candidates  Identify any information gaps Detailed profiles of all ranked candidates 4 Initiate research director review Conduct an unbiased evaluation of all candidate profiles  Brainstorm ranking options  Invite multiple perspectives on candidates’ performance  Update candidate profiles Final prioritization of all eligible candidates and companion best-practice positioning paper 5 Assemble panel of industry experts Present findings to an expert panel of industry thought leaders  Share findings  Strengthen cases for candidate eligibility  Prioritize candidates Refined list of prioritized Award candidates 6 Conduct global industry review Build consensus on Award candidates’ eligibility  Hold global team meeting to review all candidates  Pressure-test fit with criteria  Confirm inclusion of all eligible candidates Final list of eligible Award candidates, representing success stories worldwide 7 Perform quality check Develop official Award consideration materials  Perform final performance benchmarking activities  Write nominations  Perform quality review High-quality, accurate, and creative presentation of nominees’ successes 8 Reconnect with panel of industry experts Finalize the selection of the best-practice Award recipient  Review analysis with panel  Build consensus  Select recipient Decision on which company performs best against all best-practice criteria 9 Communicate recognition Inform Award recipient of Award recognition  Announce Award to the CEO  Inspire the organization for continued success  Celebrate the recipient’s performance Announcement of Award and plan for how recipient can use the Award to enhance the brand 10 Take strategic action Upon licensing, company is able to share Award news with stakeholders and customers  Coordinate media outreach  Design a marketing plan  Assess Award’s role in future strategic planning Widespread awareness of recipient’s Award status among investors, media personnel, and employees
  11. 11. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 11 “We Accelerate Growth” The Intersection between 360-Degree Research and Best Practices Awards Research Methodology Frost & Sullivan’s 360-degree research methodology represents the analytical rigor of our research process. It offers a 360-degree-view of industry challenges, trends, and issues by integrating all 7 of Frost & Sullivan's research methodologies. Too often companies make important growth decisions based on a narrow understanding of their environment, leading to errors of both omission and commission. Successful growth strategies are founded on a thorough understanding of market, technical, economic, financial, customer, best practices, and demographic analyses. The integration of these research disciplines into the 360-degree research methodology provides an evaluation platform for benchmarking industry participants and for identifying those performing at best-in-class levels. About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages more than 50 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from 45 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com. 360-DEGREE RESEARCH: SEEING ORDER IN THE CHAOS

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