As a leader, you don’t have time to wait around for survey results. The speed of business has only quickened. You make decisions more swiftly than ever.
To use market research insights to guide your decisions, you need those results fast.
The traditional way of gathering market research is anything but fast. It requires long surveys full of thorough questions. It requires heavy data analysis after the fact, then in-depth reporting.
You need insight now to make more informed business decisions. Good thing you live in the age of big data.
Before your market research team sends out that survey, check your big data. The Benefit of Big Data
Today, data is all around us. It’s being produced during almost every interaction.
Big data, harnessed appropriately, drives smarter sales decisions. Within your own company’s sales process, there are many data points to consider:
- What are your business drivers?
- How does your enterprise make money?
- What KPIs indicate if the business is on track or not?
With all of this data at your fingertips, you can derive remarkable insights. You can examine customer behavior, market trends and sales rep effectiveness. You can optimize campaign performance, streamline product development and speed up your go-to-market strategy.
Tap into Big Data First
Before your market research team conducts a survey, tap into big data first. Have them use big data to glean as many insights as they can.
Now your organization has a head-start. If decisions need to be made quickly, you have insights to base them on.
If researchers have already put together a set of survey questions, even better. Have them use big data reports to answer as many of those questions as possible. What questions are left over can then go out in the market research survey. The end result is a faster survey process. And faster results and insights.
Executives need insights now to make smart, immediate decisions. Big data can be a shortcut to success.
A Better Market Research Result
With big data on your side, the market research process is improved. When many questions are already answered, it impacts surveys in two ways:
- Velocity. Surveys are shorter, so survey creation is accelerated.
- Effectiveness. Surveys are more focused, not wasting any time on unnecessary questions.
Speed is everything in market research. Not just for executive decision-making. The market changes on a dime today, with technology hastening those changes. The more insight you can capture at a moment’s notice, the better off you are.
Market research agility results in a more agile company. But often research is conducted on a tight marketing budget. This is another benefit to tapping into the big data you already have. It makes your market research more agile, yes, but also more robust within budget.
Learn more about how market research will help you hit your number in 2016. Register for a live How to Make Your Number in 2016 workshop.