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Asking your Customers Questions and Tracking their Behavior is not Enough Anymore, Reveals Michalis Michael of DigitalMR

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Michalis Michael DigitalMR

We talked to Michalis Michael of DigitalMR about AI backed consumer insight, and he had the following to say:-

First of all, how are you and your family doing in these COVID-19 times? 

Michalis Michael: Doing good. I enjoy the focus and routine the lockdown has imposed.

Tell us about you, your career, how you founded DigitalMR.

Michalis Michael: I am an aerospace engineer by education but entered the world of market research instead, as they were not hiring any astronauts in Cyprus when I graduated. After 20 years as a hired gun, I saw a gap in the market around Digital market research and harvesting unsolicited customer opinion from social media and took the plunge.

How does DigitalMR innovate? 

Michalis Michael: We have carried out 7 R&D projects around using AI for the accurate analysis of unstructured data (e.g., text & images) partly funded by the UK government and the EU. Even when there is no grant involved, R&D is in our DNA.

How the coronavirus pandemic affects your business, and how are you coping?

Michalis Michael: We have pressed a reset button back in May and became a pure SaaS and DaaS scale-up by saying no to offering professional services. So in a way, the pandemic had a positive impact on our trajectory.

Did you have to make difficult choices, and what are the lessons learned?

Michalis Michael: Yes. See above. Perseverance is the lesson.

How do you deal with stress and anxiety?

Michalis Michael: Meditation, running, boxing, sleep tracking.

Who are your competitors? And how do you plan to stay in the game?

Michalis Michael: Mainly social media monitoring vendors. We need to raise funding and increase our distribution platforms to establish a global positioning.

Your final thoughts?

Michalis Michael: Unstructured data makes up more than 95% of all recorded human knowledge. Every organization needs to be in a position to accurately annotate and combine customer opinion from sources such as social media, call centers, focus groups, answers to an open-ended question in surveys, etc. It is not enough to include solicited customer opinion and behavior in your discovery process for actionable insights.

Your website? 

Digital-mr.com

We are a team of writers passionate about innovation and entrepreneur lifestyle. We are devoted to providing you the best insight into innovation trends and startups.

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