- Brands are embracing new sets of data. Brands are embracing and empowering the use of all types of data that is accessible to them. These leaders are driving the change to diversify data portfolios, challenge teams to remain objective and find the right data sets aligned to drive business decisions (https://tinyurl.com/raviparmeswar). Proctor and Gamble tests and researches new product concepts five years prior to launch (https://tinyurl.com/tiamaurer). In order to maintain agility and budgets, DIY solutions are integral in P&Gs new product research. In addition, Tia Maurer shared that P&G uses behavioral data to create a deeper understanding of consumer behavior versus stated intentions. Lastly, Joe Catling of Relish Research shared that as we move more into the data economy, clients are integrating existing data sets with their own in house data. This linkage of data across different departments provides an opportunity within client organizations to work across functions breaking down silos (https://tinyurl.com/joecatling).
- Measuring return on investment for research even more critical now.– Insights professionals and other research professionals within client organizations are being challenged as new entrants of data scientists and management consultants deepen their presence in the client organizations. As a result, there is even greater focus on supporting and helping researchers create a way to justify and measure the return on investment in research. Providing a framework of how to measure the return on investment in research ensures that research is linked to business results. GRBN and Cambiar consulting have announced a partnership in which they have created a framework and approach to help researchers measure the return on investment on research spend. Details for the framework are available in my interview with Simon Chadwick of Cambiar Consulting (https://tinyurl.com/simonchadwick).
- Respondents are real people. -The participants who take surveys are central to our ecosystem. In my interview with Roddy Knowles of RNOW-SSI (https://tinyurl.com/roddyknowles), we talk about how critical it is to ensure we continue to advocate for people who participate in our surveys. There is a vital role in which artificial intelligence and automation can play to customize the experience for different participants. Certainly, there is a strong awareness of these topics and groups and initiatives that are forging the path forward. GRBN has developed a concrete solution that engages brands, market research agencies and panel/sampling providers to work together. SampleCon has facilitated and advanced the conversations. Most recently, CASE (The Coalition for Advancing Sample Excellance) has also focused on developing solutions. During this time, there are different trade-offs that clients are making. Perhaps smaller sample sizes for higher prices to ensure better quality. Others believe that blockchain technology will be creating the transparency needed to ultimately shift the economics and control back to the participants.
- GDPR and consumer privacy topics are on the rise. –This has been the core topic across our industry given the GDPR compliance deadline of May 25, 2018. Although the policies do not apply to US citizens, there is certainly heightened focus on informed consent for participants in research. My talk with Ray Poynter (https://tinyurl.com/raypoynter) brings to light the implications for GDPR on the research industry both here in the US and in Europe. Within the US, there is no regulation currently to date on standards for consumer privacy. During my talk with Annie Pettit (https://tinyurl.com/anniepettit) we discuss if we can truly self regulate as an industry, since it only takes one bad actor to create chaos.
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Written by:
Sima Vasa
Infinity Squared Ventures 
