With access to more data than ever before, we have the opportunity to access better insights than we could have dreamed of even ten years ago.
In a recent article for the American Marketing Association (AMA), Horst Feldhaeuser explores how the massive amount of data that we now have access to can make our insights even sexier. Trends like the sharing economy promise to give us better insights than we could have dreamed of even ten years ago.
While access to all this information is enticing, we should remain cautious. In this article, Horst offers four pieces of advice to ensure we don't lose sight of the main prize: to provide our stakeholders with the best data to serve their needs.
Be skeptical and understand that not all data is equal. Step back and remember where your data is coming from, and weight it accordingly.
Look at the big picture, the one that lies beyond the insights and helps businesses make more informed decisions.
Customize outputs to meet the needs of each stakeholder. New technology makes it easier than ever to do this, with no worries about impacting the integrity of the source data.
Look ahead because bringing accuracy to future predictions is what can help companies start to truly shift the status quo.
Horst is a multi-award-winning research professional with more than two decades' experience in market research, marketing, and business consulting. He is actively involved in the research industry and is a sought-after conference presenter and contributor to industry publications.