Data Rich, Insight Poor…
Having attended a raft of conferences this year, I see countless presentations delivered where the theme is the need for market research to fight for its place at the ‘table’ and integrate itself more into an organisation.
However, little is spoken about how that can be achieved, although one piece which addressed this issue was at the NEXT Conference in New York earlier this year by Anthony Tasgal, where he challenged the market research industry to not be DRIPs (Data Rich, Insight Poor). I think more often than not, the industry doesn’t spare a thought for those people who might use data every day in their jobs but aren’t trained in interpreting the research – salespeople, marketers, senior management etc.
It is imperative for the industry to communicate the relevance of the numbers – rather than reporting numbers, tell stories. Providing people with genuine business changing insight would establish the credibility of the research department within an organization – making it a critical business function, particularly in industries where it traditionally hasn’t been seen that way.
One way to get them interested in research is to engage them, let them interact with the data – possibly empower them to find their own stories. This is something for which a 200-chart PowerPoint presentation often isn’t suitable. Creating easy to use online data visualization tools which users can access from any device, puts the control back in their hands. Providing them with an intuitive controlled online environment away from the perils of low base sizes etc, would improve the position of the research team in an organization. E-Tabs has been creating these online environments for its clients for many years on a project-by-project basis. Perhaps it might be a way to engage those outside of the research team, increasing the profile on the department internally and (in an ideal world) secure more budget for research.
I remember working for a former client – initially creating one, simple dashboard for them, by the end of that year their CEO had signed off additional budget for an entire online system and ring-fenced that for several years – not only that but their sales department were using the tool to prospect with and would ask for new areas to be included etc – not only that but the team headcount grew also!
The halo effect of becoming an integral business function was clearly evident, perhaps we could help elevate your department and get the credit it deserves within your organization?