Sometimes the numbers don't easily reveal their secrets. Analytical modelling provides insights into B2B markets
When undertaking market research to estimate market size and growth rates for specialized products and services, in many cases off-the-shelf data isn't available.
This is particularly true in B2B markets where industry data simply isn't available; quantifying the market requires an analytical approach.
JWPM has expertise in developing models to estimate market dimensions for specialized products and services. For example how big is the Steel Purlin market? What is the market for drive couplings, industrial electric motors, loose diesel engines, gas turbines, high voltage transmission line insulators, industrial brakes?
These are projects that require a tailored approach and sometimes requiring the building of analytical models to convert available data into final estimates.
With the increasing availability of business software and databases, even smaller organizations manage to accumulate extensive data sets. Numerous analytical methods can trawl through this data and turn-up interesting insights. Like the time we analyzed customer sales history to discover an unusual geographic distribution of customers...
Turns out that they were all adjacent to the daily commuting route of a sales rep who had been working with the company for ten years.
...and a second cluster proximate to his favorite golf course.
Correlating sales data with external data sets (industry activity, economic indicators, even weather data) can produce new insights. JWPM has IT specialists who are good at extracting data sets from seemingly unfriendly databases and writing queries to extract relevant information and converting them to usable formats.