I’m mad. Well, that may be too strong of a word. But I am certainly annoyed. Why? Because at every national market research conference I have attended for the past 3 years, there has been at least one session effectively titled, “Will big data kill market research?”
It’s the wrong question. Big data is just…data. The real question is: will business decision makers decide that they have data sources that deliver better insights than they can get from market research?
We market researchers need to evolve for a world where there are many data sources about customer needs and behaviors (and yes, I mean “needs” and “behaviors”). Of course, our profession is already evolving. But we all need to be prepared, and to make some careful choices. In my most recent Conversation, I lay out some key career path scenarios.
Please share this video with any colleagues who might want some information on market research career planning in a big data world. And if you think the video has value, please do like and subscribe on YouTube! Prefer podcasts? Also available on iTunes.
Sincerely,
Kathryn
P.S. Our new course on Crafting Insights that will resonate with the C-suite is scheduled to start October 23rd! This course meets once a week for 4 consecutive Tuesdays from 11 AM to 12:30 Eastern. Join insights expert Chris Grabarkiewicz-Davis, PhD, for a lively, practical learning experience. Get practical lessons that you can apply to your work and really thrill your clients.
2 comments
Agreed! Marketing researchers have access to many types of data that can be used in many different ways. Like survey data, focus group data, and interview data, big data in the form of social media data or transactional data is just another form of data. Each one offers unique insights into consumer behaviour and should be used when they suit the research objective.
You wrote: “The real question is: will business decision makers decide that they have data sources that deliver better insights than they can get from market research?”
Insights sourced from all data sources are the outcome of research into markets or marketing. Sometimes insights are the result from the analysis of primary data, sometimes secondary (big data), sometimes a combination. There are many paths to insights, of which one methodology is data analytics often centered around big data.
Objective business decision markers will gravitate over time to the best tool for the job, with best being faster cheaper, more effective/actionable – for which researchers of every stripe should be advocates. And thereby hangs a challenge for all involved. 🙂