Digital consumer intelligence firm Brandwatch has launched a market research product – the first product to come out its merger with Crimson Hexagon, which occurred just under a year ago.
The flagship product, named ‘Consumer Research’, brings together the technologies of both Brandwatch and Crimson Hexagon. It is aimed at helping brands, agencies, and organisations to achieve digital consumer intelligence by better understanding these consumers and uncovering market opportunities.
Consumer Research, part of a $50m investment by Brandwatch, uses machine learning to classify large volumes of data quickly and to identify logos, actions, objects, and scenes in millions of images each day. It also features an AI-powered analyst, called ‘Iris’, to automatically surface trends and uncover insights.
“This product launch is a major milestone in what we set out to achieve 12 years ago when Brandwatch was founded,” said Giles Palmer, founder and CEO of Brandwatch. “Software is never done, but Consumer Research genuinely provides something new to the market. Now we’re expanding our horizons and we’re excited to see where we can take this new vision of building a new kind of digital consumer intelligence.”
Brandwatch completed its merger with Crimson Hexagon in October last year, creating a $100m SaaS company with 2,200 customers. Earlier this year, Brandwatch acquired London-based SaaS research platform Qriously as part of its intention to bring social media listening and market research together.