MINNEAPOLIS, Nov. 16, 2016 /PRNewswire/ -- The 2016 U.S. Presidential Election proved that data decontextualized from the broader culture can lead to ill-informed decisions and assumptions. There's a better way. Metametrix, a new venture from data and analytics industry veterans, lowers risk, finds untapped opportunity and adds cultural understanding to data-fueled business processes.
Metametrix is a subscription-based, software-as-a-service platform that helps business leaders develop clearer, more useful audience connections to understand context and guide messaging strategies. Metametrix uncovers the real-time insights and cultural motivations behind consumer behavior. The platform provides a new level of detail, analysis and insight for marketers by using proprietary search algorithms. Metametrix is already being embraced by major early adopter clients across the country, including a global public relations agency, a cable-television network and a major home-product manufacturer.
"While data analysis is important, it's values that drive consumer decisions," says Metametrix co-founder and chief executive officer Mary Meehan. "We've seen how raw numbers and data can be misinterpreted, skewed, twisted and misunderstood. We believe that by fusing data with an understanding of culture, those results become more meaningful and reliable."
Energized by a belief in values and culture as a backbone of strategic decision-making, Metametrix developed a real-time solution that combines advanced data collection, natural language processing and rigorous study of the world into a unique approach called cultural analytics.
Metametrix's unique approach — cultural analytics — can turn data into actionable insight, reaching beyond simple social listening tools or conventional data-crunching software. With cultural analytics, Metametrix clients can see the values behind consumer behavior, the "how and why" behind consumer trends, and the unexpected opportunities for their business.
"Big data has been a boon to business, but numbers alone can't paint a complete picture of market opportunity and consumer insights," said Meehan. "Similarly, looking at only qualitative data only gives part of the story. With Metametrix, we've taken public data and applied a real-time, context-based search function that is unlike anything available today."
Meehan has more than 30 years of experience as a trend analyst and market researcher. In 1992, she co-founded Iconoculture, one of the nation's first consumer and cultural trend analysis firms. In 2010 Meehan left and founded Panoramix Global, a next-generation research and consumer behavior firm that specializes in cultural data.
Spend less time searching and more time thinking
Metametrix begins with an approach that's 180-degrees different than other market research tools. Instead of scraping the bottom of a finite pool of indexed data to see who's talking about a brand or product, Metametrix uses real-time searching of all public information to identify what's happening in the culture.
By analyzing how data fits into the cultural "big picture" leveraging frameworks (STEEP, systems theory, scenario planning, Maslow's hierarchy, etc.) often used by sophisticated marketers, Metametrix makes data actionable and allows businesses to anticipate and react to trends immediately.
"Our communications team had one direction for our project and marketing had another," said a Metametrix early adopter representing a Fortune 500 company. "We used Metametrix and quickly identified which approach best aligned with the target audience we wanted to reach. We wished we had used Metametrix earlier."
"We believe data can tell stories and provide perspective to businesses in entirely new and increasingly powerful ways," Meehan said. "The human brain is still an important component of market insight, and while big data analysis may never be completely automated, Metametrix is a huge step toward freeing up markets for deeper, more meaningful thinking about their businesses."
Metametrix uses cultural analytics to help researchers, strategists and decision-makers gain insight, explore ideas and move their business forward faster. The proprietary process, cultural analytics, helps users see how ideas are embedded in the culture and driving decisions, guiding users to identify valuable opportunities for their business. Learn more about Metametrix at www.metametrixdata.com.