THE VALUE OF INSIGHTS
“Organizations have learned the lesson that research plays a significant role in developing new phases of their business and understanding their consumers.” the biggest impact. Changing that perception and saying not only do I deliver those strategic insights, but I also help my organization by increasing that bottom line success. For Michael Nevski, creating value for the insights function is critical. It starts with building the right partnerships across the organization. What can we as researchers influence? Let’s focus on new insights. Let’s focus on developing strategy and supporting the organization. Let’s focus on new skills or bringing data and research together to create 360 perspectives instead of just saying I have no influence. I think respondents understand those challenges, but at the same time you’re trying to focus on where they can make
There are key factors for expanding influence on the business. Having that seat at the table still continues to be a priority and it still continues to be a challenge. You need to build a partnership, to build a subject matter expertise for the people working with you. Working across departments is very important in this regard. That’s sometimes even more important than a unique skill set in terms of the research, if we’re talking about building relationships, trust and reputation across the enterprise. Lack of control over activation of insights is a weakness but you can turn it into an opportunity. You can build that reputation. In my case, people from other areas of the company come to me and ask for my participation in actioning the insight. Very often people feel they have delivered the insight, but they are not part of the rest of the process. But this is the opportunity, you build that trust, share your knowledge and you support them in the next phase. Another weakness is seen by respondents as not a revenue generating function. But there is clearly value. On the surface, it’s easy to say that we are not generating business. Not only do you generate those insights but you have to deliver those insights and you measure that satisfaction or count those opportunities where you
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INSIGHTS SPEND & TRENDS REPORT 2023
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