Steve Wills - July lecture series - 2014

Steve Wills, Insight Management Academy, UK July Lecture Series 2014

The New Insight Management Profession. Opportunity or threat?

Steve Wills

2014 Pla)num Sponsor


Today’s presenta<on……

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•  What is Insight Management?

•  How and why has the profession developed?

•  What does it mean for market research?


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The world’s biggest and fastest growing resource is informa<on.

It is only valuable if it is used!


2000

•  Separate service func)ons

Market Research

Competitor & Market

Intelligence

Database Analysis

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Key Messages

The good:

•  Project management

•  Data provision

The bad:

•  Communication

•  Demonstrating value

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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

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What is Insight?

•  “a penetra)ng, and oQen sudden understanding”

or

•  “the ability to perceive clearly or deeply”

Dictionary definition:

= insights

= insight

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Insights

•  The flashes of inspiration

•  The “Ah ha” moments

•  Usually arise from a specific project

“a penetra)ng, and oQen sudden understanding”

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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”

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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.


Growing Influence of Insight

The role of the Board is to deploy its assets to generate the highest returns

HR Director Finance Director

IT Director Insight Director

So what are a company’s strategic assets?


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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 Data Trust


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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”


The Drivers

•  Low cost differen)a)on

•  Big Data

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The Drivers


•  Big Data

•  Company size

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The Drivers


•  Vast expansion of data

•  Company size

•  Staff turnover 17


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%

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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.

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Market capitalisation:

£6bn £36bn!


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


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Highest Paid Person’s Opinion


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With thanks to Scoe Adams and Dilbert -‐ hep://dilbert.com/strips/comic/2007-‐05-‐16/


Insight

1. Information that can make a difference

2. Making that information make a difference

Management

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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

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Role of the Insight Management Academy:

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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


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The Glove Shrine

$3.22

$10.55


Barclays – Insight TV


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!


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


THANK YOU

Anouk Willems, InSites Consulting, Netherlands NewMR Lecture Series April 2014


Steve Wills


The Sponsors for this Event

If you are interested in sponsoring a future NewMR event Email [email protected]



Q & A


Steve Wills Insight Management Academy

Sue York Author of The Handbook of Mobile Market Research


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

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Steve Wills - July lecture series - 2014

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