Acquiring market intelligence and understanding of dependencies between players and industries.
QuidPro: 25K$ / year for a license.
San Francisco, USA.
What is it?
SaaS where you get access to heaps of aggregate data through self-managed searches.
Data gets visualized in different ways and from different sources: articles, patents, startup company info, etc. Quid draw connections between these data sources and capture valuable signals in unstructured content.
What are the requirements?
You need training in order to be able to navigate and use the tool but you need experience in using the tool in order to get the value out of it (turn a need into a series of search queries).
What is it going to do for me?
Most interesting use cases for Innovation professionals:
– QuidApp: Surface and rank key Opinion Leaders (KOLs) in a topic area.
What are the limitations?
Steep learning curve to navigate QuidPro. Quality of insights depends on frequency and depth of use. In our experience, the barrier to use it was too high (even after training) to get the expected value out of the tool.
However, this was a couple of years ago before QuidApps existed, so this might have become easier in the meantime (no analysts available to help on a regular basis).
Even though debated by Quid, we saw a focus on US-based data, which made it less relevant for e.g. European companies.
Data sources’ limitations: news/blogs: LexisNexis, patents: Derwent (previously Thomson) Innovation, company information: CapIQ, product reviews).