How data science complements the role of market research

As a result of increasing touchpoints and new technologies, the wealth and volume of data available to companies has grown exponentially over the past few years; derived from a mix of multi-source and multi-structured data.

CRM, POS, digital platforms, social media, the Internet of Things, and advertising data are just a few of the myriad of devices, sources, and formats that have helped to drive the big data revolution and are readily available in many companies.

The question is how can businesses best use this data to support decision making and inform strategy?

Here at Future Thinking we believe the future of insight lies in the ability to combine existing data sets with primary research to understand the how, what and why. We work alongside GemSeek, the data science team within the Group, in a range of innovative ways to do just that.

Download our free guide to understand how data science complements the role of market research.

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A few examples of questions our expertise can help you answer include:

  • How can we increase market share?
  • Where should we allocate resources to drive subscriptions?
  • How can we improve customer services to reduce churn?
  • How can we reduce attrition and improve customer experience?

Our work is about transitioning clients to enabling a targeted approach to sales and marketing. We provide a deeper understanding of why customers and prospects behave in a certain way, and how clients can influence this. With concrete recommendations on what to do for each customer segment, our clients maximise likelihood to (re)purchase, increase satisfaction and lifetime value, to drive revenue and profitability.

To find out more about understanding the why and maximising the value of your existing data, please call/email Steve King, MD Experience on +44 (0) 3333 208 220.