August 10 2010
Too much data, not enough insights
The volume of customer and competitor data available is overwhelming – so how can we generate insights from the clutter?
The first discussions about data overload date back to the last century when marketers started to bring together research from tracking studies, panels, ad hoc research and analyst reports, – all sliced from conflicting perspectives, like regions, brands and products.
These days marketers have to consider all of this comparatively structured data amidst an ocean of customer feedback from call centers, client forums and the world’s largest focus group – social media. And all this external information must be weighed against personal experience and peer opinions.
So how do they cope? Well in the main they rely on intuition because they simply cannot access relevant insights, when they need them. But is there a better way?
Turning data overload into valuable market insights is one of the major challenges that Market Logic is attempting to solve.
We’ve developed new marketing decision support software, to generate and capitalize on insights. The software helps you to capture, consolidate and connect customer all your data and knowledge to build understanding about customer behavior and apply these insights to innovate, brand, communicate and monitor new and existing business.
For more information, see our overview.