15 Quick Tips for Turning Information into Insights

15 Quick Tips for Turning
Information into Insights

Marcy Phelps
PhelpsResearch.com

Quick Tips for Turning Information into Insights

Marcy Phelps
Marcy Phelps is the founder and
principal at Phelps Research,
where she provides insights for
better business decisions.

Marcy frequently speaks and
writes about topics related to
business research, and she is the
author of the highly-acclaimed
book, Research on Main Street:
Using the Web to Find Local
Business and Market Information.

Follow Marcy on Twitter -
@marcyphelps

PhelpsResearch.com


Table of Contents
Transform your research into something useful .............................................. 1

Quick Tip #1 - Get to know Excel's chart features........................................... 2

Quick Tip #2 - Add quick summaries................................................................ 3

Quick Tip #3 - Add an executive summary ...................................................... 4

Quick Tip #4 - Add a word cloud ...................................................................... 5

Quick Tip #5 - Build a dashboard ..................................................................... 6

Quick Tip #6 - Try a different view .................................................................. 7

Quick Tip #7 – Listen and learn! ...................................................................... 8

Quick Tip #8 - Try different formats ................................................................ 9

Quick Tip #9 - Add images ............................................................................. 10

Quick Tip #10 - Include a matrix ................................................................... 11

Quick Tip #11 - Map it .................................................................................... 12

Quick Tip #12 - Use quotes ............................................................................ 14

Quick Tip #13 - Create a value-add toolkit .................................................... 15

Quick Tip #14 - Tell a story with a timeline ................................................... 16

Quick Tip #15 - Offer updates ........................................................................ 17

More from Marcy ............................................................................................. 18

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Transform your research into something
useful
"There is a simple way to package information that, under the right circumstances, can
make it irresistible. All you have to do is find it.

̶ Malcolm Gladwell
The Tipping Point

With the explosion of information on the web and the tools for capturing it, there's no
shortage of information about our customers, competitors, and the environment in
which they operate. In fact, we're drowning in it.

For researchers, it's important that we don't contribute to the deluge, and we must
deliver results in a way that ensures they will be read and – more importantly – put to
good use. Our goal is to make it easy to navigate, learn from, remember, and use our
research and analysis. In short, we need to deliver insights, not just information.

So how do you turn that collection of statistics, news, journal articles, and expert
opinion that you've gathered into something more than the proverbial "data dump?"
How do you deliver the valued insights your clients need for making decisions and
completing projects?

Sometimes it's something as simple as adding a hyperlinked table of contents that will
help readers navigate the document and provide a preview of the information to come
– similar to the "tell them what you're going to tell them" rule in public speaking.

In this e-book, you'll read 15 of my top tips for turning information into insights,
originally posted on my blog, MarcyPhelps.com. None require a big budget or a steep
learning curve. And the list is by no means complete – Just a few tricks of the
information trade, which will hopefully add to your value as a researcher.

Enjoy, and feel free to share with your friends and colleagues.

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Quick Tip #1 - Get to know Excel's chart
features
Line, pie, column, or other types of charts turn boring numbers:

…into something that's interesting and useful:

Charts are not only more visually appealing, they facilitate making comparisons and
finding connections. In the example above, it took me about two minutes to create the
chart in Excel. It provided an easy way for my client to understand the growth of the
10G market, as compared to the total Ethernet market.

To learn how to create and work with charts, check out the Microsoft Excel help pages.

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Quick Tip #2 - Add quick summaries

Rather than hand over a long compilation of articles and other documents for your
client to slog through, create some quick summaries. Briefly summarize or copy the first
paragraph of each article, and link to the full text in an "Articles" section of your report.
Also include a link for easy navigation back to the summaries (check Word Help and
How-To to learn how to create a hyperlink to a place in a document).

This small investment of time will reap lots of benefits. Quick summaries facilitate
browsing - and help readers decide if they need to read the full article.

Here's an example of a quick summary I used in one of my projects:

Is Hulu a stolen idea? Arbitration to decide [link to full article within
document]
Los Angeles Times
July 09, 2010 | Meg James

A Los Angeles County judge on Thursday referred to arbitration the case of a
Canadian engineer who contends that NBC Universal stole his idea and business
strategy to launch Hulu, the website that shows TV programs and movies…

Note: Make sure you have permission to reprint and share articles. Since I retrieved this
one from Factiva.com, a fee-based service, my agreement allows me to send a copy to
my client. If you are using an article from the web, I suggest you just use the article's
web link and not include the full text in your report.

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Quick Tip #3 - Add an executive summary

It's simple, quick, and you're probably already including some sort of summary in your
reports. What I'm referring to, though, is a real executive summary. That's a one-page,
top-level summary of what you've found in your research – something that lets the
reader know at a glance what the information in the report means to them.

The executive summary should address each of the
initial research questions and basically provide an
answer in one or two sentences. Include links to places
in your document where more information can be found.
Also, (very) briefly describe your observations about
issues or trends that came out of your research.

Put yourself their position. Imagine what you would
want to know if you've just received a report that's full
of new information. Wouldn't it be nice to get a quick
overview before delving into the details?

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Quick Tip #4 - Add a word cloud

Many thanks to Cindy Shamel, Shamel Information Services, for contributing this tip.

If your deliverable is text-heavy, for instance you've done a literature search and
retrieved a collection of articles, it can be informative to include a word cloud. Word
clouds help readers visualize key concepts discovered in a collection of articles.

Wordle offers a free and easy tool to work this magic, and here's a word cloud made
from the text of the SLA San Diego Chapter practices manual. Fascinating for sure.

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Quick Tip #5 - Build a dashboard
Simple dashboards can add value to the information you deliver. In computer
terminology, dashboards are graphical interfaces that display key performance
indicators, sometimes in real time.

When creating your deliverables, though, there's an easy way to highlight key indicators
and the quick answers to specific research questions. No need for programming skills.
Here's how to add a dashboard - without a steep learning curve or a big budget:

Open a Word document and set the page orientation to Landscape. Copy and paste
onto one page a few charts, table, graphs, or other type of visual with highly-relevant
statistics. Select those that help the answers to your client's questions pop out, and
select only the amount that will fit on one page. Include the dashboard at the beginning
of your report for a top-level summary of the topic.

Here's an example of a dashboard I've created:

Dashboards make it easy to view trends, make comparisons, and get the big
picture - and they add valuable insights to the inform ation you deliver.

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Quick Tip #6 - Try a different view
When research projects include telephone interviews, I always include a summary of
each interview - one page, with all the questions and that person's responses. This
interview-by-interview summary provides a great top-level view of the research results.

For additional insights, though, I also include a question-by-question summary of the
interviews:

Clients appreciate results formatted this way, because they don't have to look through
all the interviews to get insights about each of their questions. It also helps me with the
information analysis, since it highlights any differences and/or similarities in responses,
possible trends, and even new questions to ask.

Once you create a template, it's easy to copy and paste from the interview summaries -
a small investment of time, with a big ROI. I'm happy to share my template - just
contact me.

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Quick Tip #7 – Listen and learn!

The only way you'll know what's valuable
to your client is to listen. Listen for:

• Why do they need the information?
• How do they plan to use it?
• Where have they looked, and what
information do they already have?
• What's frustrating about their search
for the best information?
• If the information they're looking for
can't be found, what would be an
appropriate replacement?

Beef up your initial client or reference
interview to include these questions. Conduct informational interviews with clients and
prospects. Look at recent research requests to identify recurring needs. Follow up after
you deliver your findings. Determine what would really help turn the information into
insights, because it's not the same for everyone.

Listen - and learn what value means to each of your clients.

For more questions to ask before you start your search, check out my article, "Ask the
right questions to get the right answers" - on the ColoradoBIZ magazine website.

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Quick Tip #8 - Try different formats

Not everyone wants or needs their information analysis delivered in a Word document.
The key is in knowing your audience and how they will be using the research results.

Does the client like to crunch numbers or sort data in a variety of ways? Do they need
to analyze key metrics when preparing their strategy? Consider using Excel
spreadsheets to deliver your findings and facilitate analysis.

Will your findings be used in a presentation? Is your client a high-level executive that
needs to quickly get to the bottom line? PowerPoint can be very useful for these and
similar types of situations. I like using PowerPoint, because it forces me to be concise.

If you do use Word, think of ways to mix up the formatting. Text-heavy documents
don't get read, and they're not conducive to delivering insights. Find ways to "chunk"
the information into manageable, digestible pieces. Use headings, charts, tables, and
bullets to break up the text and convey key points.

The only way to find out what format works best, though, is by asking the right
questions - before you even get started.

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Quick Tip #9 - Add images

At times, a picture is
truly worth a
thousand words. For
example, when you're
delivering information
or analysis about
places, photos can
enhance your story. If
your client is
researching
competitors, adding Google Earth images of corporate and branch offices could verify
what's online.

The trick to including images in your deliverables is to make sure you have the right to
use them. To avoid any copyright violations when incorporating images into my articles,
presentations, or client deliverables, I head to these resources:

Search USA.gov for images - The websites of most government agencies contain
collections of photos, which generally can be used without restriction. Run a search of
your topic, and then narrow your results by clicking Images on the left side of the page.

Google Advanced Image Search and Flickr Advanced Search - Both these tools offer
options for finding Creative Commons content that can be reused.

iStock - Sometimes free isn't always the quickest route to quality images. This site
offers low-cost stock images and handy advanced search filters.

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Quick Tip #10 - Include a matrix

Clients often need insights into how their products and services compare with those of
their competitors. That's when a matrix comes in handy. Here's a template I put
together that can be easily adapted for different types of projects. Note that I create
hyperlinks that lead to more in-depth information about each of the competitor
companies.

This matrix makes it easy for clients to discover their key differentiators and identify
gaps in the marketplace.

Let me know if you'd like a copy of an editable version of this matrix. I'm happy to
share.

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Quick Tip #11 - Map it

Much in the same way I use charts and graphs for turning information into insights, I
like to display place-related data on maps.

Spreadsheets are great for crunching, sorting, and analyzing data. But, as hard as it is
for the math geeks among us to comprehend (myself included), columns and rows of
numbers mean absolutely nothing to most people. Convert the data into a pretty
picture, though, and it all starts to make sense.

Here's an example from a recent project. My client was trying to make the most
efficient use of her sales team's resources and wanted to know how many companies
within several metropolitan areas met their specific requirements (ownership type,
revenue, industry, and location), and she wanted the information broken down by
county. After running my search in Hoover's to find how many companies met their
criteria, I created this spreadsheet for the Denver metro area:

Then, with the help of some relatively-inexpensive mapping software, I turned the
numbers into this visual, which my client included in her presentation at the next
department meeting:

Read more…

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I use Microsoft's MapPoint for creating maps and have found the $300 investment well
worth it – and it took me about two minutes to complete this example. There are
cheaper options out there, including Mapland, an Excel add-in. You can also download
many U.S. government data sets into maps for free through American FactFinder,
BearFacts, and other sites.

From demographics to business and industry statistics, a picture is definitely worth a
thousand words - or spreadsheets.

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Quick Tip #12 - Use quotes

Primarily used in journalism and publishing, pull
… pull quotes draw
quotes - also known as callouts - highlight a
attention to key findings
key quotation or excerpt from an article. When
or insights in your
report. summarizing results of research and analysis, for

example, pull quotes draw attention to key findings or

insights in your report. They also provide quick

answers for those just-the-facts types of readers. Use

the text box feature in Word, and format your pull

quote in larger or bold font so it's distinctive.

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Quick Tip #13 - Create a value-add toolkit

One of the biggest barriers to using charts, maps, pull quotes, and other value-adding
features that add value to information deliverables is time. I often hear from
researchers that value-added reports take too much time -
time they just don't have.

Save time and energy by creating a value-add toolkit - a
collection of templates that you can reuse. They add a
distinct look and feel to your information packaging and
enhance your image. Why "rip and ship" when you can offer
eye-appealing reports that transform information into
insights?

Here are the tools I've created and keep in a dedicated folder:

• Branded report template with preferred styles, cover letter, table of contents,
section headers, and copyright/disclaimer wording
• PowerPoint templates
• Word document with frequently-used SmartArt diagrams and a template for pull-
quotes
• Product/company comparison template
• Interview summary templates (by interview and by question)
• Excel spreadsheet with sample charts

What's in your value-add toolkit?

Related links:
• 10 Microsoft Word Style Secrets
• Value Added Reports and Deliverables
• Ready-to-use information graphics

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Quick Tip #14 - Tell a story with a
timeline
One of the simplest tools for turning information into insights is a timeline. It's a great
way to display and find the meaning in events over time.

For example, when I need to compile an executive profile for a client, rather than
sending a [boring] list of career highlights, I put them in a timeline:

Two recent events reminded me of why I <heart> timelines:

First, at the SLA annual conference I had the opportunity to attend the interactive
session, Favorite CI Analytic Tools that Deliver Value. Speakers Fred Wergeles and
Michel Bernaiche provided groups with random pieces of information (news articles,
company profiles, etc.) about several consumer brands. We were tasked with
organizing this information with the help of Timeline Analysis. Once we got the hang of
it, patterns, gaps, and trends began to emerge from the randomness, which shed light
on company strategy and other competitive insights.

Then, in her keynote address at the BMA Colorado regional event, Louise Clements,
President of MacLaren MRM Toronto, used timelines to track and compare innovation
trends in the advertising and IT industries. With this simple device, Ms. Clements told a
fascinating story - one with a lot more impact than if she'd used a bulleted list or simply
told us, "There's been a lot more innovation in IT than in advertising."

How do you use tim elines to convey your m essage?

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Quick Tip #15 - Offer updates

Market research and analysis offer
valuable insights that can guide
strategic and tactical decisions.
Unfortunately, in our rapidly-
changing business environment, it
doesn't take long for your research
to become outdated.

One of the easiest ways to add
value to the information you find is
to provide regular updates. Use
RSS feeds, email alerts, and
specialized tools such as Yahoo
Pipes to monitor any topic. Then compile relevant articles, summarize in an email or
Word template, and send to stakeholders on a quarterly basis. And, don't ask if they'd
like to receive updates on this topic - ask how often. That's much more valuable.

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More from Marcy

Read more about turning information into insights at
MarcyPhelps.com.

Subscribe to ResearchNOTES, a monthly email
bulletin with my favorite tips and sites for web
searching.

I can be reached at
+1 303.239.0657
mphelps@phelpsresearch.com
www.PhelpsResearch.com

Connect at:

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15 Quick Tips for Turning Information into Insights

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15 Quick Tips for Turning Information into Insights