Signs that you don’t really know who your customers are

You have the perfect product Under pressureor service that you know everyone needs, but sales just aren’t were they should be. Chances are you don’t really know who your customers are. When bringing a new product or service to the market, or attempting to expand your market share, you need to carefully consider a deluge of demographic data to ensure profitability. Continue reading

Building Solid Business Strategy Through Market Research

Market Research

As a leader within your organization, are you leading with data driven decisions? Or are you basing your overall business strategy on your “gut” or your previous experience? Don’t do that. It’s better to build a solid business strategy through market research. Here’s why: Continue reading

Is Data Tangible or Intangible?

Did you know that electronic information is tangible? From the apps you use, the games on your phone, right down to every message you send – all of it appears to invisibly float away and live somewhere far off in the ethers, but actually, most of it will land with a thump in our earthly domain.

Because of our impression that information is invisible, we can end up taking the resources it requires for granted. Data centers or server farms dot the globe, and actually come with considerably large carbon footprints, because of not only the power the require to run them, but also to keep them cool. In the United States Continue reading

Lead with Data Driven Decisions

Lead DataInformation is the prime asset of enterprise, the departure point for all decisions leading to product innovation, marketing strategy, and ongoing competitive advantage.  IT generates an abundance of business information; the problem is selecting data most useful to your enterprise purposes and using it to devise suitable long-term objectives.  Data driven decision-making is based on big data analytics, which particularizes and coordinates enterprise-derived information towards specific organizational objectives. Analyzing large data-sets for assessment of strategic performance is the current best practice technique of enterprise decision-making. Continue reading

Trusting Research Results of Product Concepts

There’s little question that investing in product research and subsequent development has the ability to reap dividends for a company, which is why it’s a tactic utilized by so many businesses. Nonetheless, you’re probably intimately aware of the difficulties inherent in trying to obtain definite results, because of concerns with consumer forthrightness, your own poorly-worded questions for a particular demographic, and simply finding the optimal time to pitch surveys to the busy customer. Thankfully, there are some things you can do to facilitate market research data analysis, so that the results return something you can actually work with, to better your product or service. Continue reading