Sourcing professionals spend over 40 hours of work sifting through thousands of options, only to consider a few dozen suppliers from a total population of thousands.
Finding the right suppliers is crucial for any organisation’s journeys to success. Yet, the traditional supplier discovery process consumes valuable time, with the average search taking three months and countless of hours to complete a single supplier search. Sourcing professionals spend over 40 hours of work sifting through thousands of options, only to consider a few dozen suppliers from a total population of thousands. These challenges stem from the overwhelming number of choices, and lack of efficiency in navigating the extensive list of potential suppliers. Recognising these hurdles, our AI-driven supplier discovery platform, the Topic Mosaic, is designed to simplify this process effectively.
The Technology behind Topic Mosaic
The Topic Mosaic widget utilises prompt engineering and generative AI to uncover a wealth of potential topics and subtopics within any market or industry. For instance, we’ve taken the Pet Services as an example market, beyond surface-level insights, not just Pet Health Insurance (but, Direct Vet Payment, Wellness Rewards, or Multi-Pet accounts) it identifies and categorises a wide range of topics and subtopics, offering unparalleled depth of market analysis and insights (see below).
Topic Mosaic’s capability lies in its iterative approach, employing advanced AI algorithms to generate up to 20 main topics for a specified industry. Diving deeper, Topic Mosaic suggests up to 10 subtopics for each main topic, creating a comprehensive map of relevant subjects. However, the widget’s intelligence extends beyond topic generation. By comparing these topics and subtopics with a vast database of text scraped from company websites within the target market, TM identifies semantic matches that unveil the most relevant companies for each topic. This process not only highlights industry key players (on the left-hand side) but also uncovers emerging trends and niches (on the right-hand side) that might have otherwise gone unnoticed (see below).
The dynamic and intuitive presentation of data through a colourful Voronoi Treemap visualisation sets Topic Mosaic apart. This visually engaging interface simplifies navigation through the intricate landscape of industry topics and subtopics. With a simple click on any topic or subtopic, users can efficiently filter the list of domains, refining their search based on specific interests or focus areas. Whether discovering emerging suppliers, understanding market analysis, or identifying niche players, Topic Mosaic provides a sophisticated AI-driven solution, revolutionising how businesses engage with potential partners and suppliers.
Want to try it out for yourself? The widget below displays the results of the Pet Services market analysis.
- Simply hover your cursor over the feature to explore a hierarchy of all the topics related to this market.
Topic Mosaic provides a solution to the challenge of supplier discovery. By dissecting each topic, our platform empowers organisations to maintain a competitive advantage by uncovering nuanced information critical for decision-making. Interested in exploring different markets? Discover new markets here and explore a glimpse of our tool’s capabilities.
Harry JohnstonData Scientist
Lilly AssigbetseDigital Marketing Manager
