Market Researchers Rank the Most Important Insight Creation Data Sources

November 6, 2015

This article is included in these additional categories:

Analytics, Automated & MarTech | Digital | Market Research | Social Media

GfKIIR-Most-Important-Insight-Creation-Data-Sources-Nov2015Source: GfK

    Notes: Custom surveys are considered the most important data source for the creation of insights today, but fast forward two years and they will be rivaled by passively collected data, per results from GfK’s Future of Insights report. Indeed, 28% of market researchers (clients and suppliers) surveyed feel that this will be the most important data source in 2 years’ time, more than double the proportion (13%) who feel that it is currently the most important. Notably, while one-quarter of respondents expect to begin engaging in passive measurement within the next 2 years, roughly two-thirds of respondents said they will not be gathering passively collected data within that time frame.

    Meanwhile, social media and digital data (search engine, website visitation data) are also slated to become more important over time, while point of sales/sales data will decline in importance.

    Asked what the biggest gap in the market research industry is today, the largest share (27%) of respondents cited the integration of information from different sources to tell a story, followed by data quality (17%) and speed of insight generation to impact business decisions (16%). In fact, half of clients surveyed for the report agreed that storytelling has become the most important characteristic of effective market research today.

      Related: Top 10 US ”“ and Global ”“ Market Research Organizations

        About the Data: The results are based on a survey from GfK and the Institute for International Research (IIR) of more than 700 market research professionals (315 clients and 394 research suppliers).

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