Meltwater - Helping Businesses Derive Intelligence in a World Drowning in Data
In one of his contributions to Forbes, Dan Woods quoted that the world seems to suffer from a ‘data not invented here syndrome’, a bias towards using internal data that was created inside the four walls of a business. This syndrome affects both companies that use data and publishers that create products using data. Headquartered in Oslo, Norway with Indian offices at Delhi NCR & Bangalore, Meltwater is digging deep into this concept of leveraging the external dataset enabling better business process. ‘Outsight Insight’ is the term coined by Meltwater for the external data.The foundation to Meltwater India was laid in 2009, by 2 international colleagues out of Manchester. Since then, Meltwater India has grown into a multi-million dollar business with over 400 clients from across India, and 2 fully functional business hubs in Gurgaon and Bangalore. Bhaskar Bose runs the Meltwater operations in India with his co-directors and has developed into one of the largest media intelligence firms across the globe.
The Concept Soon to Take Over
Founder and CEO, Jorn Lyseggen, in his book ‘Outside Insight’ mentioned – “Corporate decision making needs to adjust to a new digital reality. Relying on internal data while making important decisions is like driving a car looking at the rear view mirror”. Meltwater is currently pioneering the space of ‘Outside Insight’ in a 3 step approach- Proactive insights, Reactive insights and Customer Engagement and Social Media Influencers. As per proactive insights, Meltwater uses complex AI based algorithms and data science to help clients predict crises and virality before it occurs- more like an anomaly detection mechanism. Reactive insights are typically Analytics covering both qualitative and quantitative aspects of digital presence and marketing efforts, with competitive benchmarking and industry insights.
Meltwater, being a global leader in capturing real-time insights from the largest editorial and social media space, is able to curate crisp customised content tailored to fit the recipient and organisations. One of the most important matrices that a brand must keep an eye out for is social engagement data, whether it is for their competitors, clients or potential business partners. With Meltwater’s Engagement benchmarking solution, one can measure and monitor this in real time. Besides, the company’s AI driven technology allows one to zoom in and discover the right social influencers based on their bios, their Social reach, their conversations and their general participation trends.
When Hike Messenger was competing in the private chat industry dominated by WeChat & Whatsapp, Meltwater helped them gain market intel by gathering sentiment analysis of their focus market as well as insights regarding the need for a local India focused application. There were similar successful ventures with Tanishq and Save The Children, to name a few out of a long list.
With more than 50 offices in six continents, Meltwater is dedicated to revolutionize how Digital Data is consumed by business at a Global scale with Local consultation. “We’re paving the way in the world of Media Intelligence in India, and hopefully the concept of ‘Outside Insight’ will slowly become a software space by itself”, says Bhaskar Bose, Managing Director, Meltwater India. Now, if that happens, it is safe to count on the expertise of Meltwater.
Meltwater is currently pioneering the space of ‘Outside Insight’ in a 3 step approach
When Hike Messenger was competing in the private chat industry dominated by WeChat & Whatsapp, Meltwater helped them gain market intel by gathering sentiment analysis of their focus market as well as insights regarding the need for a local India focused application. There were similar successful ventures with Tanishq and Save The Children, to name a few out of a long list.
With more than 50 offices in six continents, Meltwater is dedicated to revolutionize how Digital Data is consumed by business at a Global scale with Local consultation. “We’re paving the way in the world of Media Intelligence in India, and hopefully the concept of ‘Outside Insight’ will slowly become a software space by itself”, says Bhaskar Bose, Managing Director, Meltwater India. Now, if that happens, it is safe to count on the expertise of Meltwater.
