Visual Analytics for Market Research: A Case Study of F&B Industry

The rapid globalization as well as the technological advancement has led to the world economies to be increasingly integrated. The integration of world economies and the lowered trade barriers have also prompted many businesses to venture beyond their country of origin in order to obtain greater market share and sales revenue. Numerous such failed global expansion projects can be attributed to the lack of understanding of the international market. Therefore, it is important for companies to perform thorough analysis in order to identify a target region and direct the analytical resources on the target region before the expansion and such an analysis becomes highly possible with the abundance of data. This paper focuses on applying visual analytics for the purpose of market research in the food industry from various points of view. Visual data analytics has been deployed to ascertain the region that holds the most potential. Analysis also includes the performance of the major competitors within the identified region to draw insights and conclusion on the market.