Superior Insights Through Information Integration: Putting 360 … · 2014-08-11 · Diverse...

Superior Insights Through Information Integration: Putting 360 into practice

Kumar Mehta, PhD blueocean market intelligence June 16, 2014

Contents

Three steps for putting 360 into practice:

1. Platform for data integration

2. Full range of skills under one roof

360 approach – essential to deliver actionable insights

3. Build out a service layer through dedicated extension teams

© 2014 blueocean market intelligence | 2

Research Departments are at a crossroads

• Responsible for providing customer “insights” to an organization, primarily through customer survey based research

• Works well with two constituencies - internal business partners and external agencies

• Generally in a good position, as customer-focused organizations continue to invest in research

• The only department with the mandate, tools, funding and focus to stay abreast of customers, competitors and market trends

• Need to rethink priorities to become the leaders of customer, competitive and market trend information

Well-regarded as customer survey experts….

Market Research Departments have the potential to be leaders within this information-driven business world

• Mega trends working against traditional MR departments

• Data explosion

• Increasingly data driven corporations

• Not well positioned to integrate increasing sources of data and information

• Not well positioned to evolve from researchers to business advisors

… Struggling to increase influence and impact


Transformation requires a fundamental shift in the tenets of a research organization

Research 1.0 Research 2.0 Research 3.0

1

2

3

4

5

Generating research data

Delivering data

Discipline-focused

Fragmentation

Reacting to the business

Using research data

Delivering insight

Partnership-focused

Collaboration

Supporting the business

Using information

Delivering impact

Decision-focused

Integration

Driving the business

Research studies to facilitate decisions and reduce risk

Consumer insight Inspire ideas to Ignite growth


Why focus on a 360 approach?

Makes business decision-making complex and time consuming • Over-reliance on single source of data, data siloes, and non-

validated information are all major pain points

True intelligence can only come from well-grounded, thoughtful and triangulated views of information, by leveraging multiple data resources > a 360 degree view of the market and the consumer

Complex marketplaces and rapid changes in technology and consumer behavior

Ever increasing size and depth of data resources; huge increase in customer-generated data


How 360 differs from traditional approaches

Evolves research managers from project management to fact-based consultants

Focuses on triangulation and data-supported story telling; single source insights usually provide a partial and inconclusive view

Often a 10X increase in the analytical effort necessary to find patterns and build predictive models

Emphasis on data warehousing and synthesis, dashboards and visualization


Putting 360 into practice…. 1. Platform for data integration 2. Full range of skills under one roof 3. Build out a service layer through dedicated extension teams


Delivering integrated 3600 insights: Key challenges

Accessing & organizing multiple data sources; break data siloes

Need for multiple skills and capabilities

Need for flexible capacity, speed of delivery

All this to be done within existing budgets

Social media

Syndicate/Published sources

Internal data

Behavioral data

Customer Surveys


1. Technology platform to integrate data

A data integration platform that can link multiple data resources

Linking all primary research studies regardless of vendor and data structure

Flexibility to support any kind of BI front-end

Social media


Internal data

Customer Surveys

Behavioral data

Link


Features of a scalable data synthesis platform

• A modular and scalable solution that has the foundational architecture to adapt to current and future information management needs

• Enables left to right view across market research studies

• Enables integration of multiple data sources such as syndicated data, social media data, behavioral data with primary market research data

• Fast, easy and intuitive integration, lowering existing barriers of access

• Truly provides “information at your fingertips” across all data assets


2. Full range of skills under one roof

Diverse skillsets to mine data across different studies and data assets

360 Scientists with Analytics and Synthesis skills to extract value from diverse data sets

Domain expertize to relate analytic outputs with business questions

Visualization skills to amplify impact

Social media


Internal data

Behavioral data

Customer Surveys

Link


3. Build out a service layer through a dedicated “extension” team

Social media


Internal data

Behavioral data

360 insights

Customer Surveys Custom built dedicated teams bring different skill-sets under a single roof

Annuity contracts foster deep relationships

Free-up research managers time to insight and impact

Right sourcing models enable all this within lower budgets Link


Conclusion

Global brands are leading the shift towards 360 information synthesis Traditional approaches to research provide an inconclusive and incomplete view of customers, markets and competitors An integrated, 360 approach represents the best opportunity for research departments to increase their influence and impact 360 approach can be enabled by bringing together, a technology platform and an integrated service layer This model is proven to provide maximum impact and help transform research organizations


Superior Insights Through Information Integration: Putting 360 … · 2014-08-11 · Diverse...

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Transcript of Superior Insights Through Information Integration: Putting 360 … · 2014-08-11 · Diverse...