Call Us at 800.215.5080
Connect twitter linkedin rss
chart

Market Research Data and Insights Are Not One and The Same

 

If you’ve found yourself staring at a chart full of data and asking yourself, “What does this really mean for my brand/product/service?”, then you know that data do not equal market insights.

Here at The Pert Group, we believe the following approaches are integral to turning market research data into actionable insights, allowing you to make informed business decisions:

  • Holistic Approach: Strategic insights are more effectively developed when linking attitudinal, behavioral and business data to fully understand the marketplace. Conducting both qualitative research and quantitative research often leads to richer market research insights.
  • Strategic Focus: It’s important to stay focused and continuously relate work back to business objectives and goals.
  • Thoughtful Research Design: Data collected through a strong, thoughtfully executed market research plan that addresses key business issues and objectives is paramount for developing actionable insights. I always preach this: Without the right research design and the right questions asked of the right people, actionable insights are going to be tough to come by.
  • Industry Immersion: Knowing the marketplace and industry trends is necessary for the accurate interpretation of data. Don’t make the mistake of not understanding your data in context.
  • Bold Thinking: Development of insights often requires that bold thinking be applied to the interpretation of data. Challenging current ways of thinking may bring unique perspectives to ordinary information.

The key is looking beyond the numbers and using the items noted above to truly drive innovation and growth. What is your approach to interpreting research data to drive strategic action?

  1. Are you drowning in data? Choosing the right chart for your market research