Read more: https://www.digitaljournal.com/pr/market-sampler-is-working-on-an-ai-tool-that-predicts-business-and-political-events#ixzz7kqbbSXyH
European data and research company Market Sampler is working on a groundbreaking research concept that uses first-hand research data, data from numerous trusted sources, and algorithms to model likely outcomes and estimate the probability of certain events.
The AI-assisted system runs simulations based on user-specified parameters and data from over 60 sources. Tests proved that simulations accurately predict real-world political and business outcomes. Such insights help to understand how market circumstances will change, and how competitors will behave.
Market Sampler founder Daniel Diosi shared that turning such a complex system into a user-friendly application is difficult.
“To run accurate simulations, a user needs to define the scenario with data and parameters. As of now, our outcome-simulating system is very much mathematical. I even doubt most people would even understand how it can help. We are working on simplifying user inputs without sacrificing the capabilities of this tool. It is the same process we used to streamline our complex systems to user-friendly research tools.
As part of our testing, we ran price simulations for an airline company before implementing changes and prices and policies. We modeled the proposed scenarios and let our system estimate the most possible outcomes for each. The company selected the one that was the most likely to succeed, and it turned out to be a huge financial success.
Using such a system is a very powerful tool. Similarly how AI can beat the best chess players, with AI-assisted decision making anyone can have an edge over their competitors or opponents. The only challenge we face now is reducing the whole mathematical model into a foolproof user interface where one can accurately define scenarios without being too scientific.”
Even before its official launch in December 2021, Market Sampler and its market research systems have been used successfully by various political parties across Europe. The tools provided by Market Sampler proved effective during the German, Hungarian, and Maltese general elections, being fast and accurate for collecting large amounts of public opinion data.
In 2022 the company developed a set of research tools for small and medium businesses, such as Brand Auditor, Competitor Analyzer, or Ad Tester. These research tools introduced usage-based pricing that is surprisingly low-cost.
“We understand that lowering prices opens new markets for us. Our core business proposition is making professional market and public opinion research available for everyone. Our system is super affordable and simple to use. Any new products or tools we develop will follow the same philosophy. Paying $100 for our data gets you similar information value you would get for $10,000 at a traditional research company”. Shared Daniel.
Market Sampler has several management policies to help keep prices low. The company is entirely self-funded, and over 95% of business processes are automated.
Read more: https://www.digitaljournal.com/pr/market-sampler-is-working-on-an-ai-tool-that-predicts-business-and-political-events#ixzz7kqbqjsFN