Enhancing Business Value: Turning Data into Intelligence and Market Insights

Transforming data into useful intelligence is a central challenge that managers of market research organizations face. However, this process is critical to heightening the success of a company’s business. Market researchers must be able to proactively develop and communicate relevant insights and actionable recommendations to brand or category leaders based on a perceptive analysis of market facts, data and trends.

Key Topics
By reading this 22-page document, market research executives can employ practices to train staff on developing relevant insights, manage the quality of insights and recommendations and develop formats for effective communication of insights. Benchmark survey data, conceptual graphics and executive quotes are also incorporated into this document.

Sample Best Practices

1. Integrate competitive intelligence skills into the overall market research function to forge deeper insights about the market and competition.
   - Among leading pharmaceutical market research organizations, field research reveals 70 percent identify competitive intelligence as an important component of their group structures.
2. Proactively propose research projects that emerge during market analysis and reflect new growth opportunities for your company’s brands.
   -When the Senior Manager of Global Market Analytics at one leading company spots a project that could help grow the business, he proactively presents it to the appropriate business leader as a place where market research can help.
3. Designate a market research executive to oversee and approve the group’s final output to ensure quality of insights and consistency of format.
   -One Market Research Head strongly believes that market research leaders are the final gatekeepers who ensure research quality and consistency. This director personally signs off on all reports and findings with recommendations for improvement.
   

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