No matter what your industry, sustained success requires finding profitable, growing markets. You need to identify and exploit gaps in competitors’ positions, surface trends that create risk for your own market positions, and optimize performance in the segments that form the foundation of your business.
Dashboards and reports can help you monitor markets you’re already in, but they can’t help you find new markets, or understand new trends that may change today’s competitive dynamics. To make the key decisions that drive new revenue growth and extract additional revenue from existing markets, you need a data discovery tool that helps you visually analyze market share, competitive gaps and changing demographics quickly and easily.
Heat Map Explorer can help you:
- Identify opportunities at the intersection of market, demographic & macroeconomic trends.
- Discover micro-trends and outliers that foreshadow future risks and opportunities.
- Understand how product categories, channels and customer characteristics interact to accelerate or impede growth.
- Uncover exploitable gaps in your competitors’ positions, or in your own.
- Optimize your portfolio for profitability.
- Visualize market growth by geography.
- Use interactive filtering to focus on high-growth regions.
- Easily switch from geographic and category views of a single dataset.
This map colors countries by their recent GDP growth rate – green regions experienced annual growth > 3%.
Standout regions include southern Africa, most of Asia, and much of South America. With this context, we can filter out lower-growth areas and interactively switch to the view shown in the Market Identification tab to continue our analysis.
- Identify large markets that also match key criteria for successful market development.
- Export high-potential opportunities to a report for follow-up investigation.
- Select individual markets to include in or exclude from your report.
This heat map uses color to show mobile phone penetration in the high-GDP growth countries selected in the previous tab. Each bar represents a region, with the boxes within each bar representing countries. The size of each country and group is proportional to its total GDP.
Using this, we can quickly identify high growth regions with large mobile penetration as potential markets for mobile products and services.
- Understand which companies dominate the market and how they are distributed across product categories or regions.
- Identify vulnerabilities by combining market share with product rating, growth and loyalty data.
- Visualize deep product hierarchies to find micro-patterns that can be exploited for a competitive advantage.
This heat map shows the top 50 U.S. craft beer producers grouped by region. Each rectangle represents a single company – the size is proportional to its market share, while color shows its average rating from a popular beer rating site.
Craft beer producers are usually strongest in their own region, but the growing popularity of craft beers offers opportunities to disrupt larger, lower-rated regional producers. High-rated small brewery competition is strong in the west, shown by all the smaller green boxes on the left side. But Boston Beer, the big red box in the top right, is a good opportunity to steal market share in the Northeast. The tiny size of the Southeast box in the lower right indicates a good opportunity to carve out virgin territory.
- Visually identify gaps in product coverage.
- Combine product category information with sales or satisfaction data to identify competitor vulnerabilities.
- Prioritize opportunities based on internal strengths or strategic considerations.
Each row of this map represents a top competitor and each column is a major product category of interest. The individual rectangles correspond to products and are colored by a product satisfaction rating between 0 (red) and 100 (green).
The 4th and 5th product categories represent opportunities since competitors’ offer weak or no products in those categories.