TMRE@Home is going to be held virtually this year from April 30 to May 2, 2024, and it will feature several educational tracks for insights and market research.
The Data Pipeline
All Things Insights has covered the leveraging of analytics and insights in several blogs and research reports, and we present a selection here for your review so you can get up to speed before TMRE@Home.
This year’s TMRE Continued hosted a session, “Blending Analytics & Insights to Drive Business Outcomes.” Moderated by All Things Insights’ Seth Adler, the session featured Doug Jensen, SVP Go-to-Market (GTM) Analytics & Activation and Learning Center of Excellence (COE), The Estee Lauder Company; Miles Drayton, Global Director, Planning and Integrated Insights, General Motors; and Tom Gould, Director, Portfolio Analytics, Constellation Brands.
Market research trends shift over the course of time, whether it be key takeaways from this year or the evolution of techniques over the decades. An essential element of any business strategy, market research is knowledge that can help influence the business and make an impact regarding revenue, branding strategy, consumer behavior, marketing shifts and more. Certainly, much has changed within the market research industry (think developments in artificial intelligence) while some techniques have remained very much the same (think audience questionnaires and surveys).
Business intelligence is a broad term that encompasses the technical infrastructure that collects, stores and analyzes company data to generate valuable insights. This could include data mining, analysis, performance benchmarking and analytics. Ultimately, business intelligence parses data generated by the business and then leads to reports, performance measures, and trends that inform management decisions. These tools and software come in a variety of formats, often with visually-oriented presentations that make it easier to help managers access and explore data, with the end goal being to support the company’s insights efforts.
The All Things Insights and marketing analytics and data science community completed an extensive survey, the H1 2023 Analytics & Data Science Spend & Trends Report, covering what executives are thinking, how they’re spending and the issues and opportunities they face. Data quality was at the top of the list.
To be human or not to be human? That is a relevant question in today’s technology-driven society, and one we posed when thinking about unifying data analytics and insights. After all, with the rise of AI, machine learning, and automation technologies, these are a lot more than just buzzwords we hear at conferences. While there is no doubt that these fields will transform the Insights space, very few of us truly understand their value and the challenges they will present to our industry and selves. The intersection of technology and methodology is happening, but it’s unclear what if any practical value they will hold in the future.
“Data is the new oil,” and it seems like everyone wants to get a piece. But what is it that most major companies are missing when it comes to harnessing the power of data analytics? According to Neil Hoyne, Fellow at Wharton, there’s a huge gap that is steadily rising. It’s not enough to just gather more data, of course. You’re also going to need to hire more data scientists to analyze all that new juicy data. Unfortunately, this is where most companies stop. However, is that enough?
If you watch June Dershewitz when she’s not looking, you might catch sight of her cape. She is a superhero in the world of data. Her goal is to make the world safe for data analytics. That’s a tall order for someone who is already busy. Dershewitz is a board member of the Digital Analytics Association.
All the Comforts of TMRE… at Home
The world of data is evolving. Every technological development brings change. Deriving value from data, centered on strategic use of such analytics-informed insights, has never been more important, or complex. Join us May 1, the second day of TMRE@Home, and learn from industry leaders about how the blending of analytics and insights can enhance and encourage data storytelling and actionable initiatives.
Video courtesy of CareerFoundry