Imagine you want to find out information about a certain market; its size, relevant players, and its projected growth rate (measured as CAGR for instance). If you have ever done this manually, you probably know that this involves a lot of manual work (searching, data cleansing, plotting, etc.). All of this of course eats into the time you have available for evaluating the information, and for drawing actionable conclusions.
The mergeflow platform now has a new tool that helps you automate the collection and preparation of market information. Our new market info extractor finds market segments, sizes, and growth rates in texts. Fully automatically, 24/7, for each incoming text.
Let’s go through an example:
We want to find market information for “artificial intelligence” and “machine learning”. In mergeflow, we do the following:
Search for “artificial intelligence” OR “machine learning”:
In order to get a general overview, we select the “summary” view. There we scroll down a bit, to the “Market size estimations” chart:
mergeflow creates this chart by extracting from texts containing “artificial intelligence” or “machine learning”…
- …market segments (one line in the chart corresponds to one market segment);
- …market sizes at certain points in time;
- …growth rate of the market (CAGR). CAGRs are either extracted from texts if they are mentioned, or interpolated if a text mentions two market sizes at two different points in time.
Next, we click on “zoom in” to see the details.
The zoomed-in chart (in a new browser tab) is interactive. Moving your mouse over a line in the chart shows the market segment that the line represents. In the example below, the market segment extracted from the text is the “Industrial Internet of Things (IIoT)” market.
Notice also that you can export all chart data as a CSV file.
Below the chart, there is a table that displays…
- …the market segment title;
- …the market CAGR (either extracted from the text or interpolated from two market sizes at two different points in time, mentioned in the text);
- …the market size estimate in 2012;
- …the market size estimate now (2016 at this time);
- …the market size estimate 8 years from now (2024 at this time).
Of course, for each data point, you can dive in and get to the underlying documents from which mergeflow extracted the information (click on “show details” in the table, or on a market segment line in the chart).
Here is the table that mergeflow created for our example:
Notice that our search was for “artificial intelligence” or “machine learning”. But via its analytics, mergeflow connects these search terms with market segments. In other words, mergeflow does not only extract market information from texts. It also helps you connect your searches with relevant markets; or discover these markets in the first place. For instance, I did not immediately expect the “cleaning robot market” here. But, of course, AI and machine learning enable cleaning robots to do what they do. Therefore, cleaning robots can be a relevant market for AI and machine learning technologies.
Now, as a final step, we also want to see relevant players and their relationships in these markets. In order to do this, we click on “show details” for any one of our markets, e.g. for the “cleaning robot market”. We then click “Open graph”…
…and there remove the “cleaning robots market” filter (because we want to see AI and machine learning players, not just the cleaning robots players). The resulting interactive graph then shows companies and their relationships, as mentioned in market segment news:
Also published on Medium.