30 Jan / 2014
Auther : Illitch
Comments : 1



2014 - Start your data legacy
When it comes to Market Research and data at large there are many winning formulas. In fact if you spend some time checking sites of various MR companies, big or small, it rapidly becomes apparent that most claim to have found the solution we have all been waiting for, the legendary philosopher stone of the industry, turning data into gold.

There are a lot of great things going on, I’m not saying, but if you strip out all the bells and whistles, it turns out that we have more in common than we like to portray.

Essentially we are positioned on different points but on a common course; always on the move for providing actionable insights through smart data collection and analysis.

A voice of plenty
If that’s the case then, one would think that purely on the principle of economy of scale, a few selected companies should rule the industry.

Yes and no.

Yes, there has been some consolidation going on, with the big 4 or big 5, depending who you are asking, going on an acquisition spree to strengthen their global credentials. They are dominant and universally respected and give direction to the industry.

Yet that’s only part of the picture. The dynamic has been that for every company bought, two new ones are emerging. In that sense the MR scene is more diverse than ever before, with new actors and players interacting and competing with historical and more established firms. It has also been more resilient than expected: in times of global recession, we kept it going strong.

If we look at the 15 questions raised and serving as the narrative of the next IIex, in Amsterdam, a few trends emerge:

  • Data needs to get more emotional
  • Looking for answers through the eyes of respondents
  • Less data, more insights

It is also interesting to note that while 2013 was the year of Big Data, we are heading toward a more Neuro focussed 2014. In a way we are shifting from a multi-channel data approach to exploring what is happening behind the scene, in the heart and minds of respondents, sometimes quite literally.

This is not news in itself, more of a validation of the path we are taking.

Looking back and forth
A lot of energy and talent has been dedicated to developing solutions that can truly leverage volume in content and work seamlessly across geographies and cultures.

We have all contributed to that effort in some shape or form and that should be celebrated.

To see how far we’ve gone I invite you to check some old articles, content and presentations that reside on knowledge databases across the industry. Go back 5 or 7 years if you can. I promise this won’t be a sentimental trip down MR memory lane, but a real eye opener.

Shikumika and Kaizen
With this in mind let’s think of the hot topics of the moment and question what will be relevant in 12 months or even 3 or 5 years and how it can be improved.

In true Japanese style, let’s systematically apply this line of thought to our interactions with peers, clients and suppliers. It does require some discipline, granted, but I have no doubt that in the process a clear insight will come your way. When it does you’ll know you are onto something that really matters, that doesn’t happen every day - the stuff legacies are made of.

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