How Big is “Big Data”

Right now Big Data is REALLY big – HUGE even (don’t you hate that word). Not a day goes by without someone posting a blog or writing an article on the value of Big Data.  And why shouldn’t they? The reality is that all of our clients are sitting on huge amounts of information about their customers and prospects – yes, terabytes and terabytes as most are fond of saying. The value of this information is immeasurable. And when we can derive actionable insights from this data the return is immense. The data itself is free (although sometimes integration of multiple databases can be a challenge) therefore insights gleaned from this data can have a major  impact on our product development and customer experience initiatives without requiring significant financial resources (OK, I realize that the advanced analytics aren’t cheap, but they are relatively inexpensive in the grand scheme of things).

But is Big Data really big enough to drive truly actionable market insights by itself? 
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Looking at the data from various angles

Very often our clients want to know what drives a certain attitude or behavior. They will request some type of driver analysis such as correlations, regressions, Partial Least Squares, etc. For the majority of the cases, the results based on one of these techniques are sufficient. But at MSI we prefer to pause and examine the data from different angles. You never know what you may find.
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Back to Basics: Doing More with Less – Stakeholder Engagement

In marketing research, we are frequently faced with getting answers faster and for less investment. In the current business climate, we have become all too familiar with the term “Doing more with less.” Along those lines, buyers of marketing research frequently face situations where there are fewer human resources available or less budget, yet the demands of stakeholders remain unchanged. When confronting such resource-restricted situations, one becomes tempted to rely on silver-bullet solutions in order to meet objectives. However, in life, there are rarely quick fixes or magic bullets that adequately serve our needs completely. So what does one do to ensure that we are delivering on objectives in spite of a limited pool of resources?
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Being a Good Mid-Size Corporate Citizen

 

 

 

 

 

 

 

 

 

 

We frequently get asked to evaluate the “good corporate citizen” aspect of our clients’ brand image. This has ranged from degree of “greenness” to employee satisfaction and morale. And in some cases our clients have asked us to look at multiple indicators of corporate responsibility, such as greenness, commitment to community, a good place to work, responsible products, etc.

When thinking about this the other day for a client, I asked myself – are we a good corporate citizen? 
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Archetypal Analysis: Segmenting on the Extremes

So, I’m one to generally heed the sage advice to not talk about religion or politics with friends and family (though I sometimes cannot help myself :)).  But if you’re like me, you’ve likely been forced to at least think about or possibly even divulge your political affiliation during the current election season here in the U.S.

The simple question we’re asked is:  are you Conservative, Liberal, or Moderate?
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Marketing Research: Are We Experiencing Evolution or Revolution?

As defined by Webster’s Dictionary, evolution is a process of continuous change. Webster’s Dictionary defines revolution as sudden, radical or complete change. In other words, evolution occurs gradually over a period of time, while revolution is immediate. Within the scope of modern-day marketing research, we often read that given today’s digital age, we are experiencing a revolution. Considering the current technological times, which would apply more accurately – evolution or revolution?

The question of evolution versus revolution applies not only to marketing research, but also to everyday behavior. In order to stay concise, let’s take three examples:
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Feel, Think and Act: Decomposing Brand Affinity

We’ve all struggled with defining brand affinity.  For example, the car industry itself can be confusing. Do we really drive a Mercedes because of its high-caliber engineering? Do we drive a Volvo because of its safety?

The answer to these questions is never really that clear.
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