If you see, the research and insights industry has surprisingly renovated a lot. New platforms, tools and technological advancement are supported by the industry conversations and are ample in number. The new developments of automotive and neuroscience help in the forward-thinking discussions, which were earlier supple and mobile research.
Analysts say that innovation is a must because it boosts the insights industry which is always casting an eye over the horizon to see how the technological innovations can be applied. A lot of inspection and question are a part of this procedure. Questions like – How will this help in the progression of data quality? Does it offer access to new players? Will it speed up data gathering?
Conversely, there is one question that often appears to be missing; how will it affect the decision-making process? Certainly, this is not an easy question to answer but is surely an important one. If research steps back to a single, incorporated objective, it would surely be to inform decisions. Now, this surely makes a lot of sense, wherein every new innovation should be benchmarked compared to how it subsidizes to this objective. To inform any decision effectively, research has to undergo three basic criteria:
- Should be of high quality
- Should be delivered to the right people
- Should arrive before the decision is made
Quality, Relevance and Speed
Quality and speed are usually considered to be the contrasting ends of a scale. Analysts say that research can either be fast or good and on this basis, decision-makers need to choose anyone. Prospects of any research can be unrealistically high and with this, it is easy to see where these insights stem from.
As a research sector, we should all be determined to find ways to progress the method of delivering on all core tenants. As a matter of fact, technology, process and culture have a role to play in this methodology. But we need to keep it in our minds that the goal should be to inform a decision rather than delivering a research project.
Turning data into effective decisions
There are a number of steps that can be put forth to ensure data-informed decisions, irrespective of the data collection and analysis methods. Keeping the target audience in mind, or the researcher, the decision and the maker, information should be well-organized.
You then need to consider the decision maker’s implicit level of understanding. Something that the reader can comprehend with an ease that vibrates with their existing awareness will always be effective and appealing.
To conclude, crafting a culture of insights is not an easy task but if you focus on the power of decision-making procedures, there is a real-time prospect to create highly competitive, approachable and customer-centric firms.