Monday, November 2, 2015

The Future of Insights According to GfK

David Krajicek, CEO, Consumer Experience, NA, GfK, took the keynote stage this morning at TMRE 2015 to share some key takeaways from GfK’s Future of Insights Survey that is being released at the conference this week.

“At no other time in history have we had information that allows us to better understand human behavior. But, are we able to use this data to its full potential to understand our consumers? Where is market research going?” Krajicek said.

Accordng to Krajicek, market researchers really need to understand that the future of insights is today. So, what do we do? First, appreciate and understand that date-driven decision making is needed. And we need to understand that the collection, curation and communication of insights will fundamentally change over the next few years. Secondly, we need to align with a few imperatives and pain points that the insights industry need to deliver on in the next two years. We need to realign in the right ways that will keep us innovating as an industry.

The five key imperatives include:
·         We need to walk, run and chew gum at the same time – There is a struggle to balance a need for innovative methodologies with the desire to generate insights faster.
·         Focus on return on insights – Clients are three times more likely to focus on replacing traditional market research, but with what? Buyers are looking to replace the traditional mix of what they do, with something completely different.
·         Develop talent for tomorrow, today – Filling through leader’s shoes while keeping pace with innovation and identifying the right talent while keeping pace with consumers.
·         Embrace the changing currency of insights – By 2017 passive data will be as important a source of insights as direct questioning.
·         Drive activation through powerful and impactful stories - 30 percent believe that storytelling is the biggest gap in the industry.

TMRE attendees received a brief summary of top line findings during Krajicek’s session. Download a copy here. GfK plans to release an in-depth report soon. Stay tuned!

About the Author: Amanda Ciccatelli, Social Media Strategist at IIR USA, has a background in digital and print journalism, covering a variety of topics in business strategy, marketing, and technology. Amanda is the Editor at Large for several of IIR’s blogs including Next Big Design,  Front End of Innovation and The Market Research Blogs. She previously worked at Technology Marketing Corporation as a Web Editor where she covered breaking news and feature stories in the technology industry. She can be reached at aciccatelli@iirusa.com. Follow her at @AmandaCicc.



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