Steve Wills - July lecture series - 2014
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Steve Wills - The new Insight Management profession. Opportunity or threat? - NewMR July 2014 Lecture Series
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Steve Wills - July lecture series - 2014
- 1. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 The New Insight Management Profession. Opportunity or threat? Steve Wills 2014 Pla)num Sponsor
- 2. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Today’s presenta<on…… 2 • What is Insight Management? • How and why has the profession developed? • What does it mean for market research?
- 3. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 3 The world’s biggest and fastest growing resource is informa<on. It is only valuable if it is used!
- 4. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 2000 • Separate service func)ons Market Research Competitor & Market Intelligence Database Analysis 4
- 5. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Key Messages The good: • Project management • Data provision The bad: • Communication • Demonstrating value 5
- 6. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 2003 – The Emergence of “Insight” • Under one roof – but s)ll service func)ons Market Research Competitor & Market Intelligence Database Analysis Market Research Competitor & Market Intelligence Database Analysis 6
- 7. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 What is Insight? • “a penetra)ng, and oQen sudden understanding” or • “the ability to perceive clearly or deeply” Dictionary definition: = insights = insight 7
- 8. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Insights • The flashes of inspiration • The “Ah ha” moments • Usually arise from a specific project “a penetra)ng, and oQen sudden understanding” 8
- 9. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Insight • Deep embedded knowledge and understanding • It’s about providing the under- pinning of all decision making • The essence of customer- centricity “the ability to perceive clearly or deeply” 9
- 10. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Insight Management: The Key Messages • Insight is built from mul)ple sources – research, database, sales etc. each only being part of the bigger picture • Insight is a strategic asset – as important to a business as its IT • Insight must therefore be managed like a strategic asset.
- 11. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Growing Influence of Insight The role of the Board is to deploy its assets to generate the highest returns HR Director Finance Director IT DirectorInsight Director So what are a company’s strategic assets?
- 12. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 12
- 13. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Forum Projects Team Structures Business Metrics Team Metrics C&MI Scenario Planning Consultancy Skills Big picture building Agency Relationships Web 2.0 etc Communication Skills Customer Experience Valuation Foresight & Innovation Do more with less Knowledge sharing Valuation capability Big DataTrust
- 14. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 14 Why This Evolution? • David Smith – Director & Vice President, Finance, GlaxoSmithKline “I am always looking for whatever will bring a step-‐ change improvement in company performance”
- 15. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 The Drivers • Low cost differen)a)on • Big Data 15
- 16. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 The Drivers • Low cost differen)a)on • Big Data • Company size 16
- 17. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 The Drivers • Low cost differen)a)on • Vast expansion of data • Company size • Staff turnover 17
- 18. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 What is it worth? What scares me is that in 3 months you’ve learnt more about my customers than I have in 30 years. The cost: £300m p.a. plus The value: Market share 18% 32% 18
- 19. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 What is it worth? What scares me is that in 3 months you’ve learnt more about my customers than I have in 30 years. 19 Market capitalisation: £6bn £36bn!
- 20. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 2012 – Emergence of the Profession 10+ Years Ago: • Research Managers / Analysts etc – Technical specialists – Great project managers – Service ethic Today: • “Consultants” or “Business partners” – Mul)-‐disciplinary – Commercially aware – Great communicators – Problem solvers
- 21. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 21 Highest Paid Person’s Opinion
- 22. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 22 With thanks to Scoe Adams and Dilbert -‐ hep://dilbert.com/strips/comic/2007-‐05-‐16/
- 23. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Insight 1. Information that can make a difference 2. Making that information make a difference Management 23
- 24. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Strategic Insight Management Module 1 Decision Making: Behavioural Insight Module 2 Organisa)onal Awareness Module 3 Business Issue Evalua)on Module 4 Insight Genera)on Module 5 Insight Delivery Module 6 MSc Insight Management 24
- 25. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Role of the Insight Management Academy: 25 Career Development • Assessment • CPD / Learning records • Training Performance Support • Toolkits • Resources • MarketPlace • IBEX-‐based consultancy Knowledge Management • Reading list • Suggested reading • Personal library • Company Library • Cataloguing • Defining best prac)ce • Helping individuals and organisa)ons achieve it
- 26. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 26
- 27. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 27 The Glove Shrine $3.22 $10.55
- 28. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Barclays – Insight TV
- 29. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Is it a True Profession? • An occupa)on – to Board level – certainly. • Academically rigorous – gekng there. – PhD research already being planned • Social purpose and value – definitely!
- 30. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Opportunity or Threat? • The real threats to MR – Displacement by Big Data – Reputa)on is “thing of the past”? – Neuroscience undermining validity of some approaches? • Insight Management = Opportunity – Career development aerac)ng the best – Establishing the true value of MR
- 31. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 THANK YOU Anouk Willems, InSites Consulting, Netherlands NewMR Lecture Series April 2014 2014 Pla)num Sponsor Steve Wills
- 32. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 The Sponsors for this Event If you are interested in sponsoring a future NewMR event Email Michele.Poynter@TheFuturePlace.com 2014 Pla)num Sponsor
- 33. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Q & A 2014 Pla)num Sponsor Steve Wills Insight Management Academy Sue York Author of The Handbook of Mobile Market Research
- 34. Steve Wills, Insight Management Academy, UK July Lecture Series 2014 Thank You! • If you want more informa)on about the Insight Management Academy…. • Please visit – www.insight-‐management.org Or – Email steve.wills@insight-‐management.org • Defining best prac)ce • Helping individuals and organisa)ons achieve it