As a software buyer one of the biggest challenges when searching for and selecting a software solution for your business is getting an initial overview of the market landscape.
The Crozdesk Market Radar™ is a fully automated, live chart that visualizes the positioning of the best software vendors within a specific market or niche in terms of the strength of the solution provided relative to the vendor's size / market share. The position of a vendor within the radar is determined by each vendor’s relative positioning to others, rather than in an absolute.
The radar features 4 market positioning segments: Leaders, Market Contenders, Product Contenders and Challengers. The inclusion of a vendor in a specific segment does not necessarily mean that the solution provided is better or worse, but should serve as an indication of the relative position of the solution provider in the context of the wider market landscape.
The proprietary Crozscore algorithm is a fully automated predictive scoring mechanism that analyses large amounts of both quantitative and qualitative data to synthesize predictive performance data related to each software solution. It calculates the overall strength or quality of a vendor's offering comparative to its competitors. It uses artificial intelligence and machine learning techniques, like dimensionality reduction and Bayesian averaging, to analyse a vendor's offering.
The Vendor Size algorithm is a function based on traffic levels, user numbers and authority data to estimate the size / market share of a specific vendor or software solution.
Software vendors in the Leaders segment offer well-rounded, strong and popular solutions with substantial market share. They are often the ones that other vendors look up to and measure themselves against.
Product Contenders have a good chance of disrupting a market and innovating beyond the status quo. Vendors in this segement tend to have passionate customers with solutions that offer substantial value, but focus on a niche or have not yet gained high levels of market share.
Market Contenders boast significant market share with mixed user experience. These vendors are often legacy providers or have strong marketing functions that exceeds the current solution strength. Price points in this segment are often higher and solutions geared towards larger companies.
Challengers that make the cut to appear on the Crozdesk Market Radar™ tend to be smaller companies or new entrants that are yet to establish themselves to become product or market contenders. They have the ability to respond fast to changing requirements and are often more agile than other players.