Earlier in March, the Vlerick Business School, in collaboration with Coca-Cola, hosted a ‘bootcamp’ on Digital Innovation & Consumer Marketing for its students. We were invited to hold a lecture on what we do and on how our product ties in with new digital trends. Here are some key takeaways on what our Business Developer Eelco Bulten said about image analysis and its potential.
1. The online world is made of images
According to a Forbes blog post from May 2018, over 300 million images are uploaded to Facebook and 95 million images are uploaded to Instagram each day.
There’s a good reason for this new trend: Images are more memorable, more impactful, and easier to share than text. Images are more global. You don’t have to translate them. A picture is worth a thousand words, after all.
Ninety percent of what our brains process is visual. Eighty percent of that are images. Images have a stronger emotional impact on our brains. For example, picture of protesters during the Arab Spring affects us more deeply than a written report. In short, images give us emotional, environmental, and contextual factors that are non-existent with text.
2. The future belongs to those who can harness the power of images
The millions of images that are uploaded each day can provide companies valuable insight into their customer experience. They can tell you what you’re doing right and what you’re doing wrong in terms of consumer satisfaction.
Back when social media first gained traction, it was thought that the future belonged to those who could analyse text. Text analysis was a viable way for companies to gain insights. It still exists, of course, but it’s not enough anymore. With the Internet turning into a digital photo album, it makes more sense to turn to image analytics.
3. To harness such power you need image recognition technologies
Where text analysis has to rely on the consumer to specifically mention your product, image analysis can do the extra mile for you.
For example, while text may provide more obvious insights about your brand or business (i.e. in the form of praise or criticism), a photo that passively bears your business’ logo may reveal more nuanced information about where or how your products are consumed. This way, you can make informed decisions in your marketing strategies, having a “super-sight” with which you might even predict your customer’s next need.
4. Analytics platforms are your best friend
This is where image analytics platforms come in. These platforms take care of the hard work, allowing you to spend your time on areas of improvement instead of looking for them. In fact, some platforms combine both text and image analytics. These power couples combine the best qualities of text and image analytics.
Dashmote has also developed such a platform to extract knowledge and insights out of both visual content and written content. Our product consists of a combination of Image Recognition and Natural Language Processing (NLP, or text analytics).
Our A.I. Image Analytics platform focuses on three main areas: Visual Brand Intelligence, Visual Trend Analysis, and Visual Location Analysis. This allows us to give our clients a thorough understanding of their consumers’ wants and needs.
Interested in learning more? Visit the Dashmote website or drop us a line at firstname.lastname@example.org.