AN INDUSTRY IN TRANSITION • Data ponds • Methodological rigor Traditional • Objective Reporting Business • Low touch Model for • Production models • Slow to adapt to technology MR • Process vs. People • Market focus • Data Rivers • Methodologically curious • Narratives & Implications Transition • High touch Model • Deep partnerships • Embracing technology • People vs. Process • Regional focus • Data Oceans • Methodologically agnostic • Narratives, Implications & Outcomes Future • High touch Model • Integration with client orgs • Leading technology • People-driven • Glocal focus
DON’T TAKE MY WORD ON IT Almost 60% of Client Research VPs expect major transformation by 2020* 70% of whom expect this to be evident by 2015Source: Cambiar Future of Research Study, 2011 *38% among total respondents (N=160)
WHAT EMERGING TECHNIQUES ARE BEING USED TODAY? Online Communities 36% 33% Social Media Analytics 30% 27% Eye Tracking 27% 15% Mobile Surveys 17% 24% Text Analytics 16% 21% 12% Webcam-Based Interviews 19% Virtual Environments 11% 7% 11% NeuroMarketing 4% Visualization Analytics 7% 8% Prediction Markets 7% 10% Mobile Ethnography 7% 14% 7% Crowdsourcing 8% Apps based research 6% 11% Mobile Qualitative 5% 13% 5% Biometric Response 5% Research buyer or client Facial analysis 4% 6% Research provider or supplier Gamification methods 3% 6% None of these 28% 31% 0% 5% 10% 15% 20% 25% 30% 35% 40% Note: Among research buyers (n=149) and research suppliers (n=669).
WHAT EMERGING RESEARCH TECHNIQUES WILL BE USED IN 2012? Online Communities 66% 64% Social Media Analytics 66% 59% Mobile Surveys 53% 64% 43% Text Analytics 45% Webcam-Based Interviews 35% 46% 32% Apps based research 40% 31% Mobile Qualitative 46% 31% Mobile Ethnography 43% 31% Eye Tracking 21% Virtual Environments 23% 22% Crowdsourcing 19% 24% Visualization Analytics 17% 24% 16% Prediction Markets 21% 13% Biometric Response 10% Research buyer or client 11% Gamification methods 25% Research provider or supplier 11% NeuroMarketing 11% 9% Facial analysis 13% 0% 10% 20% 30% 40% 50% 60% 70% Note: Among research buyers (n=149) and research suppliers (n=669).
FOUR DISCIPLINES CHANGING MARKET RESEARCHBehavioral Economics Neuroscience Predictive Analytics Text Analytics
MAKING THE SHIFT TO CONSULTANTS“RESEARCHERS MUST MAKE THE JOURNEY TO BECOMECONSULTANTS. THE JOURNEY REQUIRES A SHIFT IN HOW RESEARCHERS DEFINE THEIR PURPOSE, IN WHAT THEYPROVIDE THEIR CLIENTS, IN HOW THEY DEFINE VALUE, IN HOW THEY WORK, AND IN THEIR ABILITY TO INFLUENCE PEOPLE. THE FUTURE ROLE OF MARKET RESEARCHERS CAN BE BOILED DOWN TO FOUR HEADLINES:1) CONSULT, 2) SYNTHESIZE, 3) TELL A STORY, 4) TAKE A STAND.”From New Roles for Marketing Researchers, S. Chadwick and I. Lewis. LeadingEdge Marketing Research, Sage Publishing. Publishing Date Nov 2011
MR FIRMS ARE ALREADY SHIFTING Research Providers/ Suppliers 25%39% Traditional Business Consultant Strategic Insights 35% Note: Among research suppliers (n=268).
THE NEW COMPETITIVE SETQuant QualConsulting Analytics
LOOKING AHEAD: THE FORECAST• Surveys get • The skill sets of • As technologies that help us smart, dynamic, and short. storytelling, connecting understand emotional Sampling models focus on disparate data points to form decision making mature and macro targeting. Game recommendations, and new approaches come to mechanics are built into the applying the social sciences market, the merger with interface. Trackers run in real to understand human behavioral economics time and are feed from CRM behavior will grow in models will become the and social media platforms. importance. norm. Qualitative playsSurveys get Once more, with connect thesmart: feeling: dots: • Look for major IT players like • Not only will advances in text Google, Salesforce, Facebook analytics increase the , Microsoft, IBM, Adobe, Yah efficacy of this approach, but oo, HP or Zynga to continue look for text analytics to also to make acquisitions & emerge as a game changer in investments to use their data both online search and big resources for insight data analytics. generation. Google gobbles Text Analytics up data reads between collection: the lines:
LOOKING AHEAD: THE FORECAST• 2012 major brands like • Social media and mobile • The science fiction of Isaac P&G, Coke, Unilever, etc.. technologies will continue to Asimov’s Psychohistory and Will follow through on their connect herdsmen in Phillip K Dick’s Minority stated goals and will be Africa, Wall Street Report is the science fact looking for more partners executives, factory workers of big players like that offer increased value in China, shop owners in HP, IBM, Google, Apple, and beyond data collection and Germany and farmers in of smaller firms like Palantir. analysis. Brazil with each other and the wider world.Brands put their money Going glocal: Big Data = big bucks:where their mouth is: • If you don’t think mobile will • New client continue to be THE defining demands, business technology of the next five realities, social years then I don’t know what trends, technology, business else to tell you. models, competitors, and advances in understanding human behavior are redefining how research is conducted. Mobile, mobile, mobile: Research is redefined:
WHERE IT IS ALL HEADED: MINORITY REPORT http://www.youtube.com/watch?v=oBaiKsYUdvg
WHERE DOES TRANSFORMATION BEGIN?“Strategic differentiation does not occur bydelivering data, it occursby redesigning thinking”
THE 4 AREAS WE MUST RETHINK1. Client Needs & Expectations 4. Process2. People Skills and Capabilities 3. Technology Enablers
CREATING A NEW VISIONBuilding a holistic model that is based on leveraging key values and strengths in new ways to lead the future Data Synthesis Strategic Measurable Insight Client ROI Consulting Delivering Innovative Impact Approaches Curious & Leading-edge Creative Technology
NEW SKILLS FOR A NEW ERA FUTURIST JOURNALISTANTHROPOLOGISTCONSULTANT STRATEGIST ANALYST
WHAT ARE THE SKILLS FOR SUCCESS? The Researcher The Researcher of Today of the Future
BRIDGING THE INNOVATION GAP: FINDING THE WHITE SPACE FOR GROWTH
WE MUST EMBRACE, SUPPORT, & FUND INNOVATIONExperimentation Mature Products SOURCES SUCCESS FACTORS • Internal innovation • Human capital • Academia • Time • Tech Start-ups • Financial support • Business incubators • Open networking • Data scientists • Scalability • Client organizations • Operational processes • Joint ventures • Incentives
MR MUST TRIANGULATE FOR SUCCESS Business Need • Data driven economy • Behavioral insights • Consumer engagementValue Proposition Innovation• Keepers of insight • Fund experimentation• Voice of the expressed & • Embrace evolving models unspoken consumer need • Look for cross discipline• Drivers of change connections
THE FUTURE IS UP TO YOU; WHICH WAY WILLYOU GO NOW?