Five Research Industry Imperatives
of talk about the Big Data revolution have just been lip service?
Experiences North America David Krajicek stunned the TMRE audience this morning
with the revelation that only about six percent of client-side researchers and
suppliers currently employ passively collected data.
passive data collection over the next two years.
stark contrast, one-third of respondents from each respective party said the single most important source of data
for insights creation two years from now will be ‘consumer-specific data
and other key findings from 700 market research clients and suppliers surveyed
for the Future of Insights study by GfK in partnership with IIR (producer of
The Market Research Event) during the opening keynote session of TMRE 2015
significant gaps and disparities in the field of consumer research today that
Krajicek called somewhat worrisome for the future of both the profession and
with the consumer and tap into the scores of behavioral data left behind by an
increasingly plugged-in society, the ability to implement these new
methodologies is still very much lacking, and the industry is still reliant on
the current modes of data collection,’ Krajicek said.
findings, Krajicek reported the industry’s future rests with three ‘C’s”Collection,
Curation and Communication’around which he offered five industry imperatives:
Speed It Up!
of priorities between clients and suppliers around speed vs. innovation. ‘Clients
want innovative methodologies, but first they want everything faster,’ he
emphasized. ‘Research providers need to concentrate on speeding up the current
deliverable while they’re developing new tools.’
Focus on Return on Insights
likely than providers to focus on replacing traditional research approaches and
sources, while suppliers tend to think of innovation in incremental terms.
Krajicek noted that what’s missing from the discussion is why we’re innovating.
‘At no other time in history have we had
access to the level of information we have today to understand human behavior. Are
we living up to that potential’? Krajicek said. ‘We, as an industry, need to
have a very honest and transparent conversation about the value we’re bringing
bring to the table.’
Help Wanted: Insights Architect
demands of the near future are less around data science, analytics and methodological
expertise and more about the ability to ‘connect dots and curate an information
and insight ecosystem,’ said Krajicek.
Passive Data Rising Rapidly
clients and suppliers split almost evenly (about 30% across the board) on what
data source would be most important for insights creation two years from now’passively
collected data or survey data. Krajicek noted that with only 6% of respondents
using the former, we’d be looking at a pretty rapid adoption curve.
Action Through Stories
30% of respondents chose ‘storytelling’ as the greatest competency gap in
research today. Krajicek observed that ”storytelling’ is code for activation’We
are talking about being impactful in our communications, which suggests that
currently research is not impactful enough.’
with a call to the industry and an invitation to continue the discussion. You
can expect to hear more on this initiative moving forward!
top line findings during Krajicek’s session. Download a copy
ABOUT THE AUTHOR/INTERVIEWER
Marc Dresner is IIR USA’s sr. editor and special communication project lead. He is the former executive editor of Research Business Report, a publication for the market research and consumer insights industry. He may be reached at email@example.com. Follow him @mdrezz.