Generating insights in a hyperconnected and data riven world
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The document discusses how data and analytics have become a new source of competitive advantage. It notes that the C-suite is demanding more business results from insights like customer growth, revenue growth, and share growth. However, research teams often struggle to deliver real-time data and insights, provide a future view, and increase business impact due to limited delivery systems, data silos, and a tactical mindset. The document outlines seven critical steps for research teams, which include cultivating a growth mindset, observing rather than just asking, synthesizing data, democratizing data access, disaggregating the value chain, evolving industry business models, and rethinking skill sets to focus more on business outcomes and consultancy.
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- 1. Generating Insights in a Hyperconnected and Data-Driven World Kumar Mehta, PhD Reed Cundiff
- 2. Data and Analytics are the new source of competitive advantage Data/AnalyticsCost/Process Until 1990s Technology 2010 Onwards
- 3. Crossroads: Reinvention or Irrelevance?
- 4. The C-suite Demands Business Results Customer growth Revenue growth Share growth
- 5. Consult on Business Issues C-suite looks to research to… Why its difficult to deliver: Deliver Real-time Data & Insights Provide a Future View Generate a 360 View Increase Business Impact Insufficient Delivery Systems Researchese Limited Predictive Analytics Data Silos, Limited Synthesis Tactical Mindset
- 6. 7 Critical Steps Cultivate a Growth Mindset Observe, Don’t Ask Synthesize Democratize Your Data Disaggregate the Value Chain Evolve the Industry Business Model Rethink Your Skill Set
- 7. Rethink Your Skill Set Business Outcome Model Business Consultancy 30% Research Operations 70%
- 8. Cultivate a Growth Mindset Knowing Cannot risk, cannot fail Limit feedback, stay on track Learning and growing Embrace challenges, learn from failure Give & get feedback, reflect and iterate
- 9. Observe, Don’t Ask Predict Sales Volume Identify Trends Gain a 360° View of Customers Monitor Social Sentiment Analyze Search Behavior Combine Behaviors + Perceptions
- 10. Synthesize
- 11. Democratize Your Data Information at your fingertips
- 12. Disaggregate the Value Chain Data Collection Analytics Synthesis
- 13. Evolve the Industry Business Model Vertical, data collection focused relationships give way to retainer based relationships
- 14. Start the Journey Now • Rethink Your Skill Set • Cultivate a Growth Mindset • Observe, Don’t Ask • Synthesize • Democratize Your Data • Disaggregate the Value Chain • Evolve the Industry Business Model
- 15. Thank you!