Blueocean IIR webinar - Superior Insights Through Information Integration: Debunking Common Misconceptions and Myths

26. Apr 2013

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Blueocean IIR webinar - Superior Insights Through Information Integration: Debunking Common Misconceptions and Myths

  1. Thursday, April 25, 2013
  2. Why focus on a 360 approach? What does a 360 approach mean? What are the myths around this approach? De-bunking the myths! © 2013 blueocean market intelligence | #Insights360 | page 2 Evolution towards synthesis
  3. • • Changing economic power balance • Technology / digitalization • Media makeover • More connected, more empowered consumers © 2013 Cambiar, LLC, All Right Reserved | #Insights360 | 4
  4. If you don’t like change, you’ll like irrelevance a whole lot less. Joe Tripodi, CMO, Coca-Cola We are listening and exploring in very different ways than the past, so that we can more efficiently and effectively act on unmet consumer needs. Jeff Hunter, Former Sr. Director, General Mills No single method – particularly survey research – can uncover the answer to every question. Joan Lewis, Officer, Global CMK, P&G © 2013 Cambiar, LLC, All Right Reserved | #Insights360 | 5
  5. More. Faster. For Less. New Methods. Better Processes. The River of Information (Big Data) Growth of the Global Middle Class New Talent for a New Age © 2013 Cambiar, LLC, All Right Reserved | #Insights360 | 6
  6. Value Added Level V IV III II I Insights across multiple studies from this source Insights from this study “Woven into the strategic tapestry” Insights across sources Knowledge management and maximum business impact Integration of information and insight generation across multiple data sources Design, analysis, reporting and generation of insights Project management, data processing and quality control Primary data collection © 2013 Cambiar, LLC, All Right Reserved | #Insights360 | 7
  7. Our analogy for the industry in 2020 is a RIVER The fundamental premise is that research in 2020 will represent a continuous and organic flow of knowledge There are 1,000's of tributaries that feed the river. These tributaries represent individual information sources There will be a fundamental shift in how we approach business decision making and influence of strategy; we move away from a project orientation toward an ongoing process of knowledge access and utilization; value creation is catalyzed from the organic knowledge found in the flow of the river Source: ARF Research Transformation Super Council © 2013 Cambiar, LLC, All Right Reserved | #Insights360 | 8
  8. Historically Where We’re Headed First conduct research studies First search the Information River Then bolt on other information Then decide whether a study is needed It’s about how to have answers before they have the questions. 4 - 6 weeks doesn’t fly. Trish Rainone, Chase © 2013 Cambiar, LLC, All Right Reserved | #Insights360 | 9
  9. The Shape of Marketing Research in 2021 JAR March 2011 Micu, Dedeker, Lewis, Moran, Netzer, Plummer and Rubinson I look for curiosity and drive to learn and look across different areas. Jack Lee, Estee Lauder © 2013 Cambiar, LLC, All Right Reserved | #Insights360 | 10
  10. 91% 71% Client Agency Involved in Data Synthesis Analysis in Past 12 Months 92 74 50 41 37 36 31 29 30 24 24 89 70 36 30 23 35 25 26 22 20 12 Surveys/quant. research Qualitative research Market measurement Company financial data Sales force info. Social media listening Experience of co. execs Co. or brand website data Syndicated media audience data Call center/customer email info Syndicated web analytics data Client (%) Agency (%) Among those involved in data synthesis analysis Types of Data Used in Synthesis © 2013 Cambiar, LLC, All Right Reserved | #Insights360 | 11
  11. Well-regarded as customer survey experts…. • 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 … Struggling to increase influence and impact Market Research Departments have the potential to be leaders within this information-driven business world • 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 • This can happen through an evolutionary transformation © 2013 blueocean market intelligence | #Insights360 | page 13 • 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
  12. 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 © 2013 blueocean market intelligence | #Insights360 | page 14
  13. Complex marketplaces and rapid changes in technology and consumer needs Ever increasing size and depth of data resources; huge increase in customer- generated data 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 © 2013 blueocean market intelligence | #Insights360 | page 15
  14. The only way to keep pace in a rapidly evolving and increasingly data rich environment Emphasis on triangulation, information synthesis, analytics and storytelling, over project management Delivers the most comprehensive view on customers, competitors and market trends Internal and Transactional Data Social Media Primary Research Syndicated Research and Other Published Sources Behavioral Data Ethnography Business Insights © 2013 blueocean market intelligence | #Insights360 | page 16
  15. Evolves research managers from project management to fact-based consultants Often a 10X increase in the analytical effort necessary to find patterns and build predictive models Focuses on triangulation and data-supported story telling; single source insights usually provide a partial and inconclusive view Emphasis on data warehousing and synthesis, dashboards and visualization © 2013 blueocean market intelligence | #Insights360 | page 17
  16. 360 is time-consuming 360 is expensive It is too difficult to access data sitting in siloes Significant expertise is required to generate true 360 insights No single company can deliver on 360 © 2013 blueocean market intelligence | #Insights360 | page 18
  17. © 2013 blueocean market intelligence | #Insights360 | page 20 360 analysis is not incremental, it is reengineering how research is designed and delivered Specialist teams work in parallel to deliver 360 insights 360 becomes a process, supported by the right people and technology
  18. Re-engineering the research process takes costs out of the system Long tail data analysis, increasing shelf life of projects, global delivery, knowledge management systems, technology, sample consolidation and many other techniques reduce research costs dramatically © 2013 blueocean market intelligence | #Insights360 | page 21
  19. A large volume of data sources are readily available 360 does not have to “wait” for all possible data resources The path to 360 is usually through stages: first, a view across research results; then, other publicly available data; and finally, other sources in “silos” As value increases, access to data sources increases © 2013 blueocean market intelligence | #Insights360 | page 22
  20. 360 is more about deep analytics and synthesis of multiple data streams than subject matter expertise Deepest subject matter expertise comes from corporate research managers © 2013 blueocean market intelligence | #Insights360 | page 23
  21. Next gen intelligence companies are built around this vision, and have trained teams to integrate data from multiple streams © 2013 blueocean market intelligence | #Insights360 | page 24 Successful delivery requires strong research managers, subject matter experts and strong operational support for analysis
  22. Brand Health Tracking Market Opportunity Assessment
  23. Outcome • Holistic view on brand performance • Recommendations implemented with positive results • Able to address the “why’s ” behind fluctuations in metrics • Significant cost savings Month 1 2 3 4 5 6 7 8 9 10 11 12 Baseline Deep Dive Study Ongoing Tracking Study Occasional Validation Research (quant/qual) Internal Data Analytics Syndicated/Secondary Research Social Media Listening Objective Approach Brand tracker based on 360 approach; core methodology of quantitative primary research, augmented with market, competitive and social intelligence © 2013 blueocean market intelligence | #Insights360 | page 26 Track brand health metrics (brand awareness, brand consideration, brand preference), brand image and competition
  24. Objective To assess the market opportunity for a business application globally Approach Market sizing and forecasting based on 360 approach using syndicated data; competitive analysis and consumer perspectives on focused primary research augmented with secondary research and social media analysis Outcome • Enabled client to have clear view of market opportunity • Helped in geo-prioritization and budget allocation • Fed in to planning for next version of the product © 2013 blueocean market intelligence | #Insights360 | page 27 Internal and Transactional data: based on client sales team interviews Social Media Analysis Primary Research: n=2500 interviews Syndicated Research Behavioral Data and Ethnography (not used in this study) Business Insights
  25. Global brands are leading the shift towards information synthesis Research in 2020 will symbolize a “river” of continuous and organic flow of knowledge Traditional approaches to research provide an inconclusive and incomplete view of customers, markets and competitors An integrated, 360 approach represents an opportunity for research departments to increase their influence and impact The myths surrounding an integrated approach are just that – teams can overcome challenges of money, time, silos and expertise © 2013 blueocean market intelligence | #Insights360 | page 28

Hinweis der Redaktion

  1. P&G - $400M US spend budget migrating towards more real time and social media effortsDoes not want sales people though – wants something unique. Too much risk and work to switch to something that is incrementally better .Shuil Khan – VP Customer Exp Philips Budget has not grown but used very differently than the past.
  2. “Woven into the strategic tapestry” is a Jim Collins quote from Simon’s interview. MR becomes a driver of a fast learning organization. BCG has 4-stages of Consumer Insight performance – level 4 is a Strategic Foresight Organization. Level 3 is a Strategic Insight Organization.
  3. P&G has asked major suppliers for their proposal to address what P&G calls “The Knowledge Cloud”. HP bought Autonomy for over $10B in August 2011. Ray Poynter UK discussion used “Big Data” as the term, where Billions will be made.