INSIGHTS
“The price of light is less than the cost of darkness.” - Arthur C. Nielsen
Often people assume that the quantity of information equates to the quality of insights - meaning the more data they have, the more likely they are to make better decisions and achieve business growth. However this unfortunately couldn’t be further from the reality. It takes a great deal of experience and analytical aptitude in order to identify the business issue with clarity, understand the market dynamics with certainty, and find the most relevant data points efficiently. This process can be the make or break decision of a project’s success. Questions we consistently receive at IDR include;
- How do I know which data points to look at and take guidance from?
- Which trends are more relevant or reliable for our company?
- How does this data help us to focus and prioritise our NPD initiatives?
- Should I care more about consumer or shopper insights?
- What forecasted global trends may impact my business?
Insights DR (IDR) provides strategic business consultancy services to help companies improve their performance, by simplifying the complex, translating analysis into meaning, and turning insights into action. The second step in this process is finding exciting insights within the data analysis.
“True genius resides in the capacity for evaluation of uncertain, hazardous, and conflicting information.” – Winston Churchill
Insights are discovered through the robust analysis of market relevant, on trend, and reliable data sources. IDR also enables clients to leverage their own knowledge of the industry, the data they collect, the trends they see, and the minutia of their customer interactions through collaborative project management style relationships. IDR strive to understand the business issue or opportunity from all key stakeholder perspectives, then investigate from a 360 degree perspective. This allows IDR to distill clear, evident, and commercially sound insights to feed in to the company strategy and provide an advantage over the competition. Examples of how data insights could be applied within a business include;
- Competitor Intelligence / Advantage
- Global / Local Industry Trends
- Customer / Retailer / Manufacturer Insights
- Consumer / Shopper Insights
- Path To Purchase / Decision Hierarchies / Switching Behaviours
- Category / Product / Brand / Ingredient Trends
- Social Media / Technological / Political / Geographic / Demographic / Psychosocial Trends
Depending on the depth, breadth, timeframes and budgets involved within each project, IDR will work together with our clients to ensure they have a customised solution delivered on time, in full, and that often exceeds their expectations.