Product

Identifying opportunities and risks for product development with the power of AI

34 Views
Avatar image

Kailey Raymond

|

June 9, 2021


featured image

New products are launching every day across every industry throughout the globe carrying their own business risks. The CPG industry alone is responsible for an average of 30,000 launches annually, with the vast majority of those launches failing. The failure rate is so substantial that HBR notes that about 95% of new products fail and “less than 3% of new consumer packaged goods exceed first-year sales of $50 million—considered the benchmark of a highly successful launch.”

There are plenty of places for a company to trip up as they set out to launch a new product. Some of the obstacles that can contribute to a failure include:

  • The product doesn’t do what it’s supposed to
  • Growth outpaces the company’s ability to support the product
  • The product is a category-maker and requires substantial customer education
  • There is no market for the product
  • The product isn’t distinct enough from competitors

So what differentiates a failure from a success? From pricing and messaging, to market sizing and competitive deep-dives, gaining a thorough understanding of the total addressable market and your end buyers is critical. A robust and data-driven planning process centered around detailed market research can often be the differentiating factor that leads to a successful product launch.

The challenges of data-driven research

The quality of research and the ability to find granular information are key factors that can make or break the success of a product launch. Total addressable market, market share, growth potential, peer strategy and suppliers, macro trend impact and M&A activity are all granular pieces of information that you might be on a journey to discover. Much of the challenge comes from the fact that these insights lie within sources that are hosted on disparate, expensive, difficult-to-search platforms.

With both speed and accuracy paramount in the fight to gain market share, delays and incomplete or poor quality of information could mean a missed business opportunity in today’s competitive markets.

AI-powered market intelligence

Tedious research processes to validate market information have been displaced by modern technology. With powerful NLP technology layered on top of millions of curated content sources, you can gain both speed and accuracy as you assess market risks and opportunities.  

Confidence in the big picture

Millions of trusted sources are available within the AlphaSense platform, providing confidence in the depth and quality of research outputs. Many turn to the Wall Street Insights collection to uncover expert information on market share, growth potential and total addressable market because these research reports do much of the heavy-lifting, with expert analysts often outlining this specific information within their analyses. A leader from one of the world’s largest pharma companies used these expert reports to identify the US market share for oncology treatments, identifying a detailed table outlining the precise information he was after in seconds.


Instead of boiling the ocean, expert insights and high-level trend visualizations allow you to get smart, quick. Using the Search Summary from a thematic search, you can gain an insightful overview of the key players and competitive landscape within your industry. Without this unique view, smaller players can easily fly under the radar.


AlphaSense’s smart technology searches across valuable content sets and builds confidence that no information is falling through the cracks, often leading to finding data that teams weren’t previously aware existed.

Efficiency gains for higher-value activities

With a deep library of valuable content, you also gain major efficiency in your workflow by conducting thematic searches across the wide array of sources available within AlphaSense. Analyzing what press, analysts and other companies are saying about a recent trend or new product in the market provides a more holistic view of how to support a product launch.


Pairing a thematic search with a Watchlist allows you to track peers, competitors, clients or suppliers simultaneously. One Competitive Intelligence leader mentioned that their AlphaSense Watchlist enabled them to track sustainable packaging initiatives among their peers and see when their competitors started looking into the idea. With this level of detailed insight, they were able to share this critical information with their C-Suite stakeholders, quickly.

As speed and accuracy of information continue to play a huge role in businesses’ ability to effectively launch new products, the need for technology to aid in the research process only grows. AlphaSense’s unique AI search is powering the research process and enabling businesses to make more timely, data-driven decisions.

Check out this video of best practices in leveraging AI to identify opportunities and risks for new product launches or unlock a 2 week free trial of AlphaSense here.

Here are a few scenarios and how AlphaSense’s smart AI can tackle the new product development workflow:

What info you’re seeking Scenario How to do it in AlphaSense
Forecasted revenue  Uncover the forecasted revenue for Keytruda (prescription medicine for skin cancer) After running a thematic search, identify key exhibits within broker research reports detailing forecasted revenue and export tables to Excel

Search link for AlphaSense users.

Competitive landscape Discover major players and new entrants talking about 5G After running a thematic search, look at Search Summary to discover the companies speaking about 5G most frequently

Search link for AlphaSense users.

Trend impact Understand the COVID-19 vaccine hesitancy rate  Run a thematic search on the trend (vaccine hesitancy #) across documents (news and broker research

Search link for AlphaSense users.

Share this article

Avatar image

Kailey Raymond

A customer-obsessed and data-driven marketer, Kailey Raymond leads Customer Marketing at AlphaSense. Previously, she was an early employee at two high-growth tech startups, in charge of launching new markets and building local communities.


More like this