- Competitive benchmarking is ad hoc: just before a new product launch or change, data collection, preparation and analysis do not get the time and attention they deserve.
- Lack of external perspective: by focusing on internal data sources, there is no comparison with the market and / or customer behaviour.
- The basis for decision-making on the premise of 1-to-1 feature comparisons is severely limited – and so is the impact on product decisions!
Successful products deliver customer value and competitive advantage! However, all too often we see product benchmarks being conducted under time pressure, on insufficient data, and with a focus on 1-to-1 feature comparisons. This feels more like an obligation.
The insights gained from this approach are limited! So is the impact on your product decisions!
Our innovative software provides the basis for effective product decisions while reducing the required manual effort:
- Solid basis for decision-making through industry and segment-specific product comparisons
- Better quality of permanently available data – without tons of outdated Excel files
- Automated data retrieval using state-of-the-art web scraping and AI technology
- Verified market models through alignment with the objective purchasing behaviour of your target group
Basic features of our software
Advanced features you won’t find anywhere else
Frequently Asked Questions
What is compass?
conpass is an innovation project working on a new software to overcome inefficient product benchmarking, better understand your own USP and find your product-market-fit. Then when we are successful, compass will move from a project to a licensable product.
Why should I join compass?
All your products should be successful. compass is the only software that matches your products to the market, compares your products to those of your competitors, and verifies your assumptions against the objective buying behavior of your target group.
Why is compass better?
compass delivers new insights of unprecedented quality and impact for your product decisions. At the same time we work to reduce your manual effort by automating repetitive tasks using state-of-the-art web scraping and AI technology.
Who uses compass?
compass is for product managers, portfolio managers and strategic marketing. We plan to integrate role-specific information sharing so that other roles such as sales, controlling and executives can also benefit.
How much will it cost me?
One of the limited seats within the consortium costs only 60.000€. We also plan to offer an early access program.
What are the benetifs for me?
As part of the innovation consortium you will have a number of benefits:
- You can and should tell us what impedes you from doing better competitive analysis so we can improve our software to meet your needs.
- Within the consortium we share the costs – everyone gets the same benefits for a fraction of the total cost.
- The other partners have the same problem. We help each other out and together we create a more successful solution.
- Once the software is ready for the market, you will benefit from reduced costs for licensing.
- By working on the solution with the consortium, you are the first down the learning curve – ahead of your competitors.
The most common form of competitive analysis today is the product benchmark. If this is carried out purely on the basis of the technical characteristics of the products, however, the insights gained are rather limited. Depending on the use of the product, different characteristics are relevant – or not. Our approach addresses this by including usage in the form of regions, industries and applications into the comparison.
In addition, we match this subjectively created market model with the objective buying behaviour of customers. To do this, we integrate the prices and discounts at which the products were offered in the respective regions and industries. Because there is a substantial difference between what a company thinks the customer wants, what the customer says they want and what they actually end up paying for.
Because this innovative way of benchmarking against product usage relies on a high-quality database even more than the traditional approach, we automate the retrieval and cleansing of this data using state-of-the-art web scraping and AI technology.
A successful market and competition analysis is not a project, but a continuous task! To realize this, the required data basis is needed – always up to date and qualitatively high.
The software implemented in the compass innovation-project is based on a continously steady state of knowledge about the needs of relevant market segments and the company’s own as well as the competitors products. Based on this, we perform AI-supported, automated analyses that deliver insights of unprecedented quality. We achieve the greatest possible benefit by sharing our insights with a broad user base within the company. In addition to product management, these are primarily marketing and sales, but also management or controlling.