One could argue that the insights and analytics industry embodies the statement “Necessity is the mother of invention”. As consumers’ behaviour changes based on what is happening around them, from political events to new technology, this industry continually evolves how we better understand the customer.
The insights and analytics industry is packed with hundreds of platforms designed to help brands uncover insights in almost every conceivable way; Greenbook’s IIeX events are testament to this, while insightplatforms.com lists over 100 categories of platforms alone.
It is safe to say that our industry is teeming with innovative companies, vying to help brands really get to know their customer and the market they service.
As great as it is to have a nuanced solution for every need, it also creates its own challenges. From being aware of which of the hundreds of solutions on the market best fit your needs, through to contract negotiation and then ensuring that the data your business has spent a significant portion of it’s revenue to uncover delivers an impactful ROI. Too much time is spent on administration, which would be better spent on delivery of insights.
I am fortunate in that I spend a fair amount of time with insight teams across different brands, understanding the challenges they face and the gaps in the insight and analytics industry. At Potentiate, we use this to inspire our innovation process. . For us innovation is not just a new software tool. It could easily be a new methodology or process. This has led us to a core focus on three key intertwined areas of Insight Management:
- Helping brands find the right solution for the problem they are addressing, minimising the paperwork and therefore allowing them to focus on generating insights.
- Ensuring that all data, regardless of the source, can deliver value beyond its original intention. Ultimately, the sum being greater than the parts.
- Helping brands action the insight they collect.
Potentiate has a rich history of innovation and product development and, over the coming months, we are excited to be rolling out our next generation of solutions that address the market challenges you have shared with us. If you are interested in learning more, I would love to hear from you. Drop me a note at email@example.com