How One Market Research Firm Innovates Shopper Panel Operations with MicroblinkAugust 5, 2022
Challenge: Accelerating Time to Insight
Consumer expectations and preferences continue to rapidly evolve so brands and retailers need to stay on their toes, quickly identifying and responding to new business opportunities and potential threats. To do this, the world’s largest companies rely on market research firms, whose first-party data and industry expertise helps to illuminate the who, what, when, where and why of consumer spending that informs go-to market strategies, product development, and larger corporate strategies.
Microblink works with one such market research firm. The firm manages and analyzes millions of transactions every year from more than 100,000 individual shoppers to help clients across brick-and-mortar, e-commerce as well as B2B navigate today’s changing retail landscape and unlock strategic growth.
Back in 2020, the firm’s head of panel operations and data collection came to Microblink looking to upgrade their existing operations. Responsible for everything from member recruitment to data transcription and anti-fraud efforts, this individual and their team ensures that proof of purchase information is captured accurately and efficiently. This is the critical first step towards delivering valuable insights to clients that uncover the who, what, when, where and why behind consumer tastes and spending.
Like nearly every organization during that time, the company was facing unprecedented challenges to their operations with the spread of COVID-19. Historically, the company had relied on teams of people to manually review and annotate shopper panel purchases across millions of paper receipts each year. The reliance on manual annotation was inherently slow, time-consuming and error-prone so the team was already evaluating ways to digitize their operations to enable a smoother experience for panelists and internal teams along with a competitive advantage to clients on first-party consumer data.
When the COVID-19 pandemic forced organizations to shift to remote work seemingly overnight, the firm faced unprecedented disruption to their business operations at the exact moment their clients were desperate for insights into consumer response to such a profound disruption to daily life.
Solution: Embedding AI Powered Data Processing
With high stakes and a tight timeline, the team evaluated several vendors, including some of the largest incumbents in computer vision like ABBYY, Google and Amazon. The data extraction performance was first and foremost, and other solutions left a lot to be desired when it came to extracting diverse data formats across inconsistent, oftentimes messy paper receipts. As the company’s Executive Vice President put it:
“You need both technical and understanding of the market to succeed, which is why Microblink is so good. The large players could read a little under half of the receipts we process with decent accuracy, but Microblink can read up to 90% with terrific accuracy. In practice, that gap is like the Grand Canyon.”
Microblink’s ability to work across a diverse set of data – critical when you consider the wide swath of merchants that need to be identified from such a large panel of shoppers – and unmatched accuracy made the decision a no-brainer. With the ability to deliver over 95% accuracy, the firm could improve overall data quality with fewer time and resources. The automated approach also meant errors were more consistent and therefore easier to fix, applying logic and business rules to improve performance.
In addition, the firm was able to reduce the costs associated with their manual process, which enabled them to invest those savings into recruiting – and rewarding – a larger panel. The impact of that investment is ultimately passed onto clients, who benefit from a larger, more representative sample of consumers and greater data insights.
The company’s Operations and Engineering departments moved quickly to incorporate Microblink’s AI-enabled Shopper Intelligence offering. Within weeks, the team was utilizing the receipt scanning mobile SDK within their checkout app, which is used by panel shoppers to track purchases.
“When the pandemic started, we faced a sudden increase in demand for consumer insights, and the risk that our manual processes would be shut down. We needed to improve our operational efficiency – fast – and Microblink’s technology and partnership allowed us to automate a large portion of our data annotation process in a very short time.”– Head of Panel Operations and Data Collection
The Future: Moving Closer to Real-Time Insights
Today, more than three-fourths of paper receipts are processed automatically using Microblink’s cutting-edge computer vision and AI. The result is a more seamless, efficient and resilient process end-to-end. The firm’s shoppers benefit from an easier user experience, the market research firm benefits from better data and more efficient, innovative data operations, and the firm’s clients benefit from faster delivery of strong market intelligence.
The market research firm is currently expanding their shopper panel innovations to new markets and is evaluating Microblink’s Shopper Intelligence offering and growing Commerce product suite in those regions.
Interested in learning more? Get in touch to speak with an expert member of our Commerce team.