Innovation advances humanity. We’ve all experienced it as consumers and humans, from the way we order a ride from A to B, to the oat milk in our lattes. The best innovations center on an individual user or consumer. They require a lot of creativity to pull off, to understand “a problem worth solving.” To do this, innovators collect data, make sense of it, experiment, and land on a product that could solve the problem. We now have a “problem-solution-fit” as the seed for innovation.
Insights are the raw material that guide us through this creative process of invention to help us make good decisions; the kind of decisions that lead to a successful product that propels a company towards double-digit growth, and turns customers into fans.
I’ve always been passionate about innovation, starting with my obsession with cybernetics as an undergraduate all the way through various roles in a 25-year career as an intrapreneur and incubator of innovation. Creativity, foresight and insights were always the foundation for success.
Now, at Market Logic, I’m involved in a company that has made insights the core of its purpose, to contribute to a world of 360-degree business decisions. We’re facilitating decision-making at scale by bringing insights to decision-makers and innovators.
Why? Because inside many organizations, individual decision-makers who work on innovation make their own attempts to find the kind of information they need to make decisions. (McKinsey says business managers spend almost one day a week searching and gathering this information.) This results in non-standardized, non-optimized corporate decision-making, which results in poor performance.
If firms want to drive consistent decision-making at scale, they need help to overcome these barriers. Curated insights have to be role-specific and embedded into the processes used by decision-makers. Insights must make sense for these decision-makers, so they can be easily interpreted and applied – people need help to see the forest for the trees.
That’s why I’m proud to join Market Logic: only a few months ago, thought leaders at our client roundtable from Toyota, Home Depot, Dyson and Fonterra shared some of the ways they used their market insights platforms to bring innovation to life. While each implementation supported very different types of innovation, from sustainable packaging to curbside pick up, the principles were the same: bring all your data sources together, synthesize the big picture in an engaging story, and only deliver relevant insights to the right decision-makers.
It’s great to be working together with our clients, to transform the use of insights for decision-making into something simple and pervasive.