Insights organizations today are under tremendous pressure in their drive to become insights-driven. Cost-cutting is everywhere, and researchers are expected to do twice the work with half the resources. Coca-Cola, Medela, MetLife, Abbott and Unilever have used their market insights platforms (powered by Market Logic) to reduce research duplication and increase its impact.
This is a big step in the right direction, but insights can be used for more. Executives are tasking their marketing organizations with driving growth, and to achieve this, they need to use insights to fuel winning decisions.
The launch of our next generation Market Insights Platform is the logical next step in Market Logic’s role as innovators in the field of insights. At our launch event in September, CEO Kay Iversen addressed the motivation behind it.
Kay said that “We went to our clients to ask about their predictions: what would be most needed in the future?” Our clients stressed the need to connect and learn from all types of data, from structured to unstructured. Kay explained that they have to be able to lean and agile research to deliver cost savings and track return on insight. Instead of reactive research to business questions, they need their insights to guide the business.
It comes down to this: research organizations need to embed their output into value-generating decisions. The next generation Market Insights Platform will drive growth by proactively embedding insights into the user’s business.
So how is all of this achieved? Kay explained that on the new platform, an AI-powered insights engine connects and learns from all data, both structured and unstructured. This data is built into a domain-specific knowledge graph that understands “what happened” and “why.”
For the first time, an auto-generated 360-degree situational analysis is possible. The machine independently summarizes and extracts findings from files, and learns from research, concept/ad tests, and business actions to provide recommendations for users.
Research projects can be tackled with new agile ways of working. Insights and analytics teams can efficiently run all their day-to-day activities because the platform leverages all specialized analytics tools and agile resources and glues them together in one interface to find answers using all your tools and data.
For business users, insights are automatically pushed to profiles as the machine learns what each one likes to read. Instead of the marketer hunting for information, the information comes to them, when and where they need it. The platform uses these functions to proactively inject insights directly into your workflow.
This, in turn, makes it easier to track ‘return on insight.’ Doing this shows insights organizations exactly where they need to focus to strengthen themselves and their business—and those shouldn’t even be separate things. If insights are embedded in workflows, then the insights organization IS the business.
The new platform uses a beautiful new millennial design that’s clean, simple, and powerful. The interface is built to appeal to a generation that’s used to intuitive applications, and the user experience is the same across different access points, from desktop to mobile.
All of these facts, ideas, and hopes have come together in over a million lines of code. The need for efficiency hasn’t slowed down, and the need for effective insights that drive growth is in demand. To keep up, things need to change.
We’ve synthesized it all to develop a truly next-generation Market Insights Platform: one that transforms the role of the insights organisation from managing insights to running an insights-driven business.