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Navik Concept Test: a cloud-based automated tool for market researchers

Navik Concept Test:

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Rashi Varshney
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NEW DELHI, INDIA: Absolutdata, a data analytics firm has released ‘Navik’ concept test, a cloud-based automated decision support tool for brand managers, product managers and market researchers.

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The tool uses advanced analytics and comprehensive customizable option selection to guide the user through research design to produce clear ‘go / no go’ results. Users can test more ideas in less time and make better decisions when evaluating potential product, packaging, pricing and promotional ideas.

How it works?

Navik concept test is an advanced analytics engine that takes the complex steps of market research and makes them simple to execute through a guided interface. Users first choose from a number of test types: new product development, price sensitivity evaluation, brand positioning enhancement, new packaging designs, etc.

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Concepts to be tested are uploaded, and can be images, video, text or audio. Business goals and key performance indicators (KPIs) are set, and the target group to be surveyed is defined. At this point, a test design is recommended and confirmed by the user, who can either upload their own database of panelists to be queried or select from a number of panel partners recommended by the product. The test is then conducted online, and users are able to track real-time results via the field status dashboard.

“The beauty of this test is that the researcher or brand manager is in control. In just a couple of hours, several options can be set, adjusted, and reset, resulting in a highly customized test specific to the individual business case,” said Anil Kaul, CEO of Absolutdata.

The initial phase of project definition and test design requires just a couple hours of the user’s time, far less than the 2 weeks of iterative planning typical when using an agency. Conducting the online survey in the field is automated, taking about two weeks to deliver final results. Summary and detailed dashboards are delivered upon survey completion and can be exported or easily shared.

When data collection is complete, the test presents clear ‘go / no go” recommendations for execution, along with detailed analytics behind the results

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