Suppose you are driving your car on a dark and curvy mountain road, on a rainy night, with a very foggy front windshield, dim headlights, and a perfectly clear rear view mirror to guide your path forward? It’s not a comforting scenario. Surprisingly, this is how many companies still operate when attempting to understand and improve their customers’ experiences and the resulting customer satisfaction (or JD Power/Net Promoter) ratings. They know a great deal about the past but very little about the future; they know a lot about the average customer but very little about the individual customer.
A cursory glance at today's market research news makes it immediately clear that big data and advanced analytics are hot topics So why all the hoopla? What is big data in the context of market research and what are some working examples? What is the real promise of big data market research (Big Data MR)? And most importantly, what immediate next steps can you take to harvest some near-term Big Data MR benefits?
One of the biggest problems that we hear from our clients/prospects is a growing lack of trust in data quality.
Analytics or intuition? What’s most important? There’s a spirited debate around this question. Are the big data and analytical “quants" really going to rule the new world? Or, will the more intuitive and creative types offer leading companies the competitive edge? A quick review of three independent surveys across thousands of companies yields this answer: analytics is your winner. Let’s take a look at our three sources: Bain & Company, MIT Sloan Management Review, and the Product Development Institute (related to Stage-Gate International).
Growing up in Northeast Ohio, I do not recall ever seeing, let alone actually kicking, a soccer ball. In those times and in that place the term “football” meant something entirely different. It meant an oblong, leather-clad, brown inflated ball. It meant glorious Friday nights at Mollenkopf Stadium. It meant watching the Ohio State Buckeyes stomp on the University of the Sisters of the Poor every Saturday afternoon. And it meant exploring new and exciting ways to express one’s displeasure and disgust at the Cleveland Browns every Sunday. So naturally I wondered how the 2014 FIFA World Cup was playing in this nether world of chauvinistic American sport.
Are you losing millions of dollars as your term life policies lapse at PLT?
After attending the 2013 EMACS and my 5th Chartwell conference, the trending strategies for utilities is becoming clear: Listen. Connect. Understand. Participants at the conference show us how they're doing this: Listening leads to better business.
Editor’s note: this post is by guest blogger, Corey Dall, who served as marketing manager for FGI Research for 2 years before starting her tenure as the digital marketing manager for a local bank. This is her reflection on her time here and some of the lessons she learned from our industry thought leaders.
The 2013 LIMRA Marketing and Research Conference in Orlando, FL was a big hit! Thanks to everyone who stopped by the FGI Research table to discuss your research needs. Here's a quick recap and some crucial take aways.