The AI-based startup makes sure competitive intelligence is not just for established players.
Data accessibility for e-commerce in Southeast Asia, including Singapore, is described as fragmented and limited compared to bigger markets such as China, Europe and the US. Whilst established e-commerce giants already have their own category level data with their brand partners or market research firms, they are reluctant to share this information with smaller players for a competitive advantage.
Addressing this, Singapore-based startup Digital Commerce Intelligence (DCI) built a solution that collects and consolidates commercial data from various sources and processes them to fit customers’ needs.
“Brands were operating almost in the blind with limited access to competitive intelligence. This is actually a common issue in e-commerce, mainly due to the fact that many major e-commerce platforms do not share category level or competition data with their brand partners. Even if they did, brands have to consolidate multiple datasets from each e-commerce channel in order to get a holistic view,” Kyriakos Zannikos, founder of DCI, told Singapore Business Review.
Their clients often require two types of services. One is category level competitive intelligence data which show their market size and potential, helping identify areas of improvement. The other service they offer consolidation and analysis of the e-commerce data they already have, turning them into insights and actionable recommendations.
“We usually marry both, blending and enriching our customers data with our own, whilst helping them visualise and extract meaningful insights from it,” Zannikos shared.
Their platform is offered on an annual subscription basis with varying prices as clients may customise their solution.
“Most of our global competitors have designed their products and services to fit markets like the US, Europe or China, therefore missing certain nuances and requirements that are unique in this part of the world. We have built a customised solution for Southeast Asia and we are offering it at a more competitive price point,” Zannikos added.
DCI raised $1m in a seed funding last April, led by Europe-based venture capital firm Velocity Partners. The AI-based startup will soon launch their first service dedicated to shoppers.
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