{"id":6101,"date":"2024-09-24T07:48:32","date_gmt":"2024-09-24T07:48:32","guid":{"rendered":"https:\/\/www.factorydata.com\/?p=6101&amp;lang=en"},"modified":"2024-09-24T07:48:32","modified_gmt":"2024-09-24T07:48:32","slug":"market-demand-analysis","status":"publish","type":"post","link":"https:\/\/www.factorydata.com\/en\/market-demand-analysis\/","title":{"rendered":"Market demand analysis"},"content":{"rendered":"<h4><strong>Market demand<\/strong> plays a critical role in <strong>shaping business strategies<\/strong> and product development decisions.<\/h4>\n<h4>Understanding the demand for products or services is essential for <strong>businesses to remain competitive<\/strong> and effectively <strong>meet customer needs<\/strong>. These are the <strong>main benefits<\/strong> it provides us:<\/h4>\n<ul>\n<li>\n<h4>Identifying market opportunities<\/h4>\n<\/li>\n<li>\n<h4>Estimation of potential sales<\/h4>\n<\/li>\n<li>\n<h4>Improve product assortment efficiency and profitability<\/h4>\n<\/li>\n<li>\n<h4>Improvement in sales<\/h4>\n<\/li>\n<li>\n<h4>In addition, it improves different strategies: sales, pricing, marketing, production, finance, etc.<\/h4>\n<\/li>\n<\/ul>\n<h4><\/h4>\n<h4>But let&#8217;s see what <strong>challenges<\/strong> the<strong> demand analysis<\/strong> presents:<\/h4>\n<h4><strong>CHALLENGE-1<\/strong>: The initial and fundamental element for demand analysis is to <strong>obtain the maximum amount of data<\/strong>. It is relatively <strong>easy<\/strong> to capture demand signals that occur<strong> in our own search systems<\/strong>, but <strong>do we capture in our call center the demand signals that are generated in third-party search systems? Probably not<\/strong>, so we are already starting to lose very valuable data.<\/h4>\n<p><a href=\"https:\/\/www.factorydata.com\/wp-content\/uploads\/2024\/09\/Fuentes-de-demanda.png\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-6092\" src=\"https:\/\/www.factorydata.com\/wp-content\/uploads\/2024\/09\/Fuentes-de-demanda.png\" alt=\"Fuentes de demanda\" width=\"650\" height=\"250\" \/><\/a><\/p>\n<h4><\/h4>\n<h4><\/h4>\n<h4><strong>CHALLENGE-2<\/strong>: In order to understand this second challenge, we must explain the <strong>different levels of demand data<\/strong> that exist and on which we can base our analysis system:<\/h4>\n<h4><a href=\"https:\/\/www.factorydata.com\/wp-content\/uploads\/2024\/09\/Demand-funnel-ENG.png\"><img decoding=\"async\" class=\"aligncenter wp-image-6103\" src=\"https:\/\/www.factorydata.com\/wp-content\/uploads\/2024\/09\/Demand-funnel-ENG.png\" alt=\"Demand funnel ENG\" width=\"401\" height=\"405\" \/><\/a><\/h4>\n<h4><\/h4>\n<h4><strong>Ideally<\/strong>, demand analysis should be based on <strong>all generated demand data<\/strong>, but <strong>most systems on the market<\/strong> are <strong>based on sales data<\/strong>, which means<strong> they lose precision<\/strong>.<\/h4>\n<h4>In these cases, <strong>what is really happening on the market is not analyzed, but rather a part of the whole reality<\/strong>. I have an acquaintance who has an ISUZU Trooper III SUV 3.0 Tdi and who has been looking for the clutch flywheel for a long time. This <strong>part is no longer manufactured<\/strong> and therefore, no matter how hard you look, no one will sell it (unless it is in a scrapyard). Or it may simply be that the<strong> price of the product is not competitive<\/strong> and therefore it is not sold or is sold well below the demand. In all these cases, <strong>sales-based analysis systems will report that the demand is 0, but instead, the demand exists!<\/strong><\/h4>\n<h4><\/h4>\n<h4><strong>CHALLENGE-3<\/strong>: Another challenge that exists in many systems is that they <strong>lose visibility on many products<\/strong> because they <strong>do not have them in their range or in their own coding<\/strong>, or because <strong>they do not have a complete analysis structure<\/strong>, which does not allow them to associate the reference or product requested with any control element (for instance a <strong>vehicle definition for Industrial, Marine, ATV, Lawn &amp; Garden, etc.<\/strong>).<\/h4>\n<h4>For example, if we want to analyze the demand for the <strong>SUZUKI Alternator \u201c31400-76G00\u201d<\/strong> manufactured by DENSO \u201c101211-2880\u201d and mounted on several <strong>models of snowmobiles of the ARTIC CAT<\/strong> brand. <strong>Can anyone tell me, using their demand analysis systems, if it is interesting to have it in stock or not?<\/strong><\/h4>\n<h4><a href=\"https:\/\/www.factorydata.com\/wp-content\/uploads\/2024\/09\/Unknown-products.png\"><img decoding=\"async\" class=\"aligncenter wp-image-6095\" src=\"https:\/\/www.factorydata.com\/wp-content\/uploads\/2024\/09\/Unknown-products.png\" alt=\"Unknown products\" width=\"650\" height=\"272\" \/><\/a><\/h4>\n<h4><\/h4>\n<h4><\/h4>\n<h4>As we can see, <strong>demand analysis systems<\/strong> present multiple <strong>important challenges<\/strong>. To solve them all, <strong>advanced solutions are required<\/strong> that allow the analysis of demand to be addressed taking into account: <strong>all search systems, all generated demand and for any product existing in the market<\/strong>.<\/h4>\n<h4><\/h4>\n<h4>Factory Data has developed <strong>Neo system<\/strong>, a system that <strong>accurately monitors, captures and analyses market demand in a completely and easily way, solving all handicaps of current analysis systems<\/strong>.<\/h4>\n<h4><a href=\"https:\/\/www.factorydata.com\/wp-content\/uploads\/2024\/09\/NEO-analysis-advantatges-ENG.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-6105\" src=\"https:\/\/www.factorydata.com\/wp-content\/uploads\/2024\/09\/NEO-analysis-advantatges-ENG.png\" alt=\"NEO analysis advantatges ENG\" width=\"652\" height=\"202\" \/><\/a><\/h4>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h4>If you want more information about NEO system please <a href=\"https:\/\/www.factorydata.com\/en\/contact\/?lang=en\">contact <\/a>us.<\/h4>\n<p>&nbsp;<\/p>\n<p>By Joan Cab\u00f3s<br \/>\nCEO &amp; founder<\/p>","protected":false},"excerpt":{"rendered":"<p>Market demand plays a critical role in shaping business strategies and product development decisions. Understanding the demand for products or [&hellip;]<\/p>","protected":false},"author":1,"featured_media":6098,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[20],"tags":[28,110,42,222,146],"class_list":["post-6101","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-neo-en","tag-assortment-planning","tag-big-data","tag-market-demand","tag-market-demand-analysis","tag-neo"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Market demand analysis - Factory Data<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.factorydata.com\/en\/market-demand-analysis\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Market demand analysis - Factory Data\" \/>\n<meta property=\"og:description\" content=\"Market demand plays a critical role in shaping business strategies and product development decisions. 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