One of the most difficult tasks when comparing business software is getting an initial overview of the entire market landscape.
The Crozdesk Market Radar™ is a fully automated, live chart that visualizes the relative positioning of the top software vendors within a specific market or niche. It compares vendors in terms of their overall solution strength and their size / market share. The position of a vendor on the radar is determined by comparing them to others.
The radar features 4 segments: Champions, Market Leaders, Product Leaders and Challengers. The inclusion of a vendor in a specific segment does not necessarily mean that the solution they provide is better or worse, but should serve as an indication of the relative positioning 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 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 Champions 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 Leaders 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 the same high levels of market share as the market Champions.
Market Leaders boast significant market share with mixed user experience. These vendors are often legacy solution providers or have strong marketing functions that exceed the current solution strength. Price points in this segment are often higher and 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.