Because Stravito works so intuitively, we can use it to promote mutual information sharing.
Ann Steyaert, Head of Market Research & Intelligence at Colruyt Group
Market information is crucial for Colruyt Group. The innovative retail company is the market leader in Belgium, responsible for established brands including Colruyt Lowest Prices, DATS 24, OKay, Bio-Planet, Dreambaby and Spar.
To further strengthen its position, Colruyt invests a lot of time and resources in its people and puts data-driven innovation at its heart. This ensures that decisions are based on business information and backed by insights.
As the business has grown, so has the importance and necessity to make market data, research and analysis available to even more people.
To achieve this, the Market Research and Intelligence team, part of the Corporate Marketing department at Colruyt Group, has partnered with Stravito. Their task? To build an efficient and easy-to-use platform for finding and sharing market information.
Already, the results are promising. So, how exactly are Colruyt using their insights to do better business?
Putting data at the heart of the organisation
Colruyt Group's Corporate Marketing department offers strategic support to the management boards and the marketing departments of its stores. It determines the marketing strategy of Colruyt Group and of sub-brands such as Collibri Foundation, Colruyt Group Academy and Xtra. And the department is responsible for the brand management of private labels such as Boni Selection, Everyday, Dreamland, Kangourou.
To ensure all decisions are insights-driven, the team’s 70 strong workforce builds brand identities and market positioning using Colruyt Group's Market Research and Intelligence Service.
The Market Research Intelligence Service’s primary function is to conduct market research and make data available. Among other things the domain analyses, opportunities and threats, examines consumer behaviour and maps competition.
But with the amount of information Colruyt Group collects growing, Olivier Lissens Market Watch manager wanted to ensure that the domain remained a centre of excellence. A place where people from all over Colruyt Group can go to access data, gain insights and make better decisions.
This is when he entered into conversations with Stravito.
Breeding a knowledge-driven culture
Stravito’s SaaS solution works as an internal storage and sharing system. A company's market research is securely stored in the cloud and made searchable and accessible to all employees.
The uploading and classification of reports is done automatically with machine learning and AI, saving a lot of valuable time. And, the platform reduces the often lengthy search for the correct market information.
What’s more, bringing together inspiring insights into new and snackable formats is an important part of what Stravito offers. Similarly to Spotify and Netflix, the platform uses smart models and algorithms to analyse a user's search behaviour and suggest curated content and insights that match their field of interest.
Enabling anyone to make insight-driven decisions
After an extensive conversation and a product demo, Colruyt Group's Market Watch team decided to roll Stravito out to a group of 100 people. Already, the reactions are incredibly positive, ranging from 'easy to work with, logical steps, you don't need to be an IT expert to use it', to 'it works like Google, but for my company'.
Ann Steyaert, head of the Market Research and Intelligence Service agrees with these findings.
-Stravito offers quick and easy access to insights and is the required leverage for the Market Watch domain.
-The next step is to include the various reports and studies in Stravito, such as market research, category analyses, trend watch reports, market reports, supplier market studies and own desk research. People can easily find them there themselves, read them at a glance and share them, all without our help and without having to call a meeting. That makes it super-efficient. Because it works so intuitively, we can also use it to promote mutual information sharing.
Based on the current results, the Market Research and Intelligence team want to further roll out the availability of Stravito within Colruyt Group, using it as a standard automated platform for knowledge sharing. Bringing insights into the fingers of employees company-wide.
Key Trends at IIEX Europe 2023: AI, Storytelling & Emotions
Maja Hamberg Apr 4, 2023