Summary
Evonik, a specialty chemicals company, had a longstanding relationship with Evalueserve, having utilized our research services for over a decade. Evonik wanted a market and competitive intelligence platform that would serve as a source of insights for the organization, so they asked Evalueserve to implement its AI-enabled Insightsfirst platform. Today, Insightsfirst is used by multiple teams at Evonik. It has given time back to Evonik’s team, allowing them to focus on more strategic work and engage with high-level decision-makers about the M&CI insights gathered.
The Challenge
Evonik’s Animal Nutrition business has two key product lines: Essential Nutrition and Specialty Nutrition. Essential Nutrition is the leader in its market area and has straightforward competitors. As such, Evonik had a good handle on conducting competitive and market intelligence for Essential Nutrition. On the other hand, their Specialty Nutrition line operates in a much more fragmented market with an abundance of players and product offerings. Evonik knew they could not successfully conduct M&CI for the Specialty Nutrition line the same way they did for Essential Nutrition. Due to this, Evonik determined they needed an M&CI platform with an access point to store all relevant insights and access to M&CI specialists with chemicals industry knowledge.
Evonik enlisted Evalueserve, an existing partner in research services for over a decade, to help.
Our Solution
Evalueserve deployed Insightsfirst, its AI-enabled market and competitive intelligence platform, for Evonik. The self-serve platform stores M&CI information, such as competitor profiles, market studies, industry news, and product updates, for proactive insights. And thanks to Insightsfirst’s AI-based data collection engine, the platform is updated in near-real-time with the latest M&CI news.
Insightsfirst organizes insights based on the market, region, and species. Evonik team members can easily access valuable insights on the Insightsfirst platform at any time, and they can customize their dashboard to look at precisely what they are interested in and create a concise report in just a few clicks.
Insightsfirst users within Evonik receive daily and monthly email newsletters of noteworthy M&CI intel. Users can customize the newsletters, giving them power over what insights they receive and how often/when they receive them. Through the Insightsfirst platform, Evalueserve also distributes a monthly update that highlights the M&CI projects Evalueserve is working on and those in the pipeline. The Evonik team appreciates the accessible, on-demand insights they receive from Insightsfirst.
As a part of the partnership, Evalueserve also provides Evonik with bespoke services and responds quickly to ad-hoc requests, which can be easily sent through the “Ask the Analyst” feature in Insightsfirst.
Lastly, Insightsfirst enables easy collaboration and communication for Evonik’s team. Users can share comments and set up notifications across different departments and geographies.
Business Impact
Insightsfirst is increasingly being adopted by users within Evonik. The Specialty Nutrition line, the regulatory team, and the research and development (R&D) team are all enthusiastic users. Evonik’s team now has access to one source of trusted information on the market and competition. The team now spends less time and energy gathering relevant insights, which has freed up time for more strategic work and mission-critical projects. Insightsfirst’s stream of reliable M&CI insights helps Evonik make better business decisions. Looking to the future, several Evonik business lines are evaluating whether to expand Insightsfirst so many more people can experience the difference it has made.
