The TMRE and All Things Insights community completed an extensive survey covering what executives in the field are thinking, how they’re spending and the issues they face. Per the results, the community continues to evolve the way they identify. The shift from market research to insights towards foresights in an acute time period is due to more and more data being available and utilized.
As that’s the case, the Great Upskill is upon us. Insights leaders have cited the need for new skills, the demand for harnessing data and the aspiration to help guide enterprise strategy. In order to get to that goal, teams will need to grow. But more importantly, the people will need to grow. Talent will need to be well-enough versed not only in the art of market research but the science that informs predictive insights.
For two fifths of the community, the biggest area of focus currently is to, “support the product development and innovation teams.” This points to the fact that organizations are focused on growing out of the pandemic and into the headwinds of a potential recession. Interestingly, this finding showcases crossover with our Innovation Spend & Trends Report findings where Innovation leaders were asked, “How has the Innovation budget changed in the last 6 months?” The top answer was an increase for “Insights.”
Insights leaders are certainly thinking big and definitely thinking long-term. But there are short-term issues that need to be addressed regarding the delta between the state of the discipline and organizational influence as well as the delta between expanding influence and collaboration in order to realize these opportunities.