Today, I want to talk about a tool that has been helping many of us gather insights and enhance our decision-making: Chat GPT.
It’s been a few months since I first dipped my toe into the exciting world of AI, so I thought I’d share my favourite ways to use Chat GPT so far.
Whether you're already on the exciting learning journey of AI or you are terrified of the concept of artificial intelligence - I'm here to reassure you that whilst it can’t replace your knowledge or expertise, there are lots of ways you can use it as a tool to make your life easier and your work stronger!
Reader be warned…
Before we dive in, let's acknowledge its limitations.
Chat GPT doesn't have access to confidential data sources. Its knowledge is based on information available up until September 2021, and it also can’t promise to keep your data confidential.
As it’s not armed with the same critical thinking skills as we are, it can also get things wrong from time to time. This is called hallucinating. it may also share information from sources that aren’t 100% trustworthy, so you have to use it with the same caution you would with the rest of the internet.
Sounds pretty rubbish right now, but I promise you it’s still a handy little helper!
5 ways to use Chat GPT
Now, armed with this understanding, let's explore the five ways a category manager can leverage Chat GPT to enhance their work.
Generating insights on macro trends: With Chat GPT, you can delve into industry-specific questions and gain valuable insights into macro trends that drive consumer behaviour. For example, you could ask Chat GPT: "How does sustainability impact how people shop for my category?".
Summarising Industry Reports and Studies: Chat GPT can help you extract key insights from industry reports and studies. Simply copy and paste the relevant sections or topics into the chat, and ask it to distill the most important findings, statistics, and trends. For instance, you could try: "Summarise the key findings of this article in 10 bullet points". You could then use those 10 bullet points as the headers for each slide in a presentation!
Social media monitoring: While Chat GPT's knowledge is currently based on data up until September 2021, it can still assist you in identifying broader discussions and common sentiments around your category. For example, you could ask Chat GPT: "What are some popular consumer discussions or emerging trends related to our category on social media platforms like Twitter?".
Analysing non-confidential data: Chat GPT doesn't have direct access to confidential data sources, and it can’t promise to keep any data you share with it confidential. However, it can assist you in analysing non-confidential data. Chat GPT can explore data sets or brainstorm analysis techniques, helping you draw insights and patterns that can shape your category strategies. You can try a prompt like: "Using the latest UK census data, what proportion of the population are aged 65+?" or copy and paste non-confidential information into the chat and ask “based on this data, what opportunities are there in my category?”.
Helping you get the most out of everyday tools like Excel and PowerPoint: Chat GPT can be your coach or your trouble-shooter for unlocking the full potential of popular tools like Microsoft Excel and PowerPoint. From formula tips to formatting guidance, it can provide insights and best practices, helping you create impactful visuals and to analyse data more efficiently. Experiment with a prompt like: "How can I count the number of unique values in a column in Excel?"
Someone new to chat to…
Remember, using Chat GPT is more like having a conversation than doing a Google search.
If you don't get the desired response or insight from your first prompt, you can keep challenging it by asking follow-up questions or rephrasing your query.
This means you can make sure it’s giving you credible information, and it allows you to explore different angles and uncover valuable insights.
Now, let's be clear: Chat GPT is not here to replace category managers anytime soon! It's a tool designed to complement our skills and knowledge, so we can make better decisions, and make our work easier and stronger.
How have you been using Chat GPT? We’re all on a learning journey so I’d love to know!
Still terrified? Let me know your fears and I’ll see if I can help!
Ready to get started? Off you go!
Trying to upskill your team in all things Cat Man? Check out our training courses or get in touch for a chat about how we can help.
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