what is an insight-driven organisation?
DESCRIPTION
The London Business School hosted a roundtable event at which attendees debated findings from the inaugural MRS Delphi Group report. Now the industry is asked to feedback on the findings.TRANSCRIPT
Delphi Roundtable Debate
02 October 2014
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The Delphi Group conducted an online survey research with over 250 marketing professionals and a series of stakeholder interviews with senior marketing and business people.
Our thanks to:
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Business of Evidence Report by MRS and PwC showed the UK Research & Evidence Market generates
£3bn a year in GVA
Research and Evidence Market Annual GVA Design Industry Annual GVA£0
£500,000,000
£1,000,000,000
£1,500,000,000
£2,000,000,000
£2,500,000,000
£3,000,000,000
£3,500,000,000
£3bn£2.4bn
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Is Your Organisation Insight Driven?
Insight driven companies were seen to be more successful
75%
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Is Your Organisation Insight Driven?
Insight Driven companies were seen to be more successful
Identifying their own company as Insight Driven
75%
38%
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The 10 characteristics
of an Insight Driven Organisation
1. Champions the customer
Uses evidence to personalise the customer to the organisation
Identifies internal stakeholders & builds dialogue
Moves from reporting to engaging/listening
“Staying close to customers should be a philosophy, not a series of projects. It should
be invisible within a business, part of the wiring”
2. Builds partnerships with suppliers
Engages procurement team with full background briefing
Puts times into improving skills of procurement to understand requirements
Identifies internal stakeholders and engages
“The clear partnership approach of agencies together and agencies
with ‘Company xxx’ is a first principle…”
3. Gets the why as well as the what
Ensures choices are clearly explained in the business
Articulates insight narrative throughout the organisation
Builds credibility as a valued voice in the business linking research to commercial goals
“Research is a key driver of business growth. It enables the
team to make informed decisions and gives us direction
regarding where we should invest our resource and our
budget”
4. Uses research as part of its key metrics
Uses research to balance operational measures with measures of customer value and performance
Creates measures that drive desired corporate behaviours
Balances short term measures with forward looking insight to drive organisational decision making
“Xxx evaluate all their research annually by looking at the
payback of research-supported projects. They do not look at the payback of research in
isolation”
5. Uses insight to drive decision making
Ensures research is fit for purpose and connected to business goals and objectives
Develops insight which is directive and helps prioritise action
Communicates and embeds insights effectively
“A valuable piece of research is the one that provides actionable
insights that can be directly implemented through our business
strategy”
6. Uses insight to inspire and drive internal change
Builds engaging communications strategies to communicate insight
Generates a narrative from insight that can be understood and used by the different audiences that need to use it
Works to bring research to life at operational levels
“People talk about [the research] and it has entered
the internal legends that drive things forward”
7. Believes that customer value drives competitive advantage
Understands that customer value is at the heart of driving value to the business
Helps the organisation understand how to generate desired customer outcomes
Ensures that there is a fair exchange of value between the business and its customers
“I strongly believe [the research] was the big
difference in taking a £10m idea to a £100m idea”
8. Balances what it wants and what it should do
Influences the organisation to ensure that customer impact is part of the decision-making process
Helps balance organisational output and customer outcomes
Identifies unnecessary processes that are internally driven and don’t help deliver customer value
“The main value of research is to keep you honest to the real views of consumers. It stops organisations doing the things they want rather than the things they should”
9. Focuses on the questions the data needs to answer
Identifies the key purpose for new data collection/ knowledge generation
Ensures the right questions are asked and that research connects to commercial outcomes
Understands what data can and cannot do
“Good research is about being an analyst and about telling a story that works towards a conclusion”
10. Knows people not processes are the key differentiator
Understands how great people can make up for poor processes
Understands the importance of people and development in the insight generation process
Builds capability and capacity in its people to deliver and embed its work
“People, not process are critical to the development of successful research and driving real value from it.”
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Thank you