This was my second year attending IIeX (Insight Innovation Exchange) and it was great to learn about so many innovative new approaches, technology, and suppliers in the market research space. Below are the top 6 themes that I took away from IIeX 2016--what's new and what's next in insights!
Key Insights Industry Trends:
1. The Commoditization of Research Execution
Key take-away: Automating non-value added work can be faster, cheaper and more accurate. However, it can never replace an actual human for creativity, influencing and engaging, convincing and telling stories.
2. Bite-sized, Right Sized
Key take-away: In our information-overload, time-starved world, collecting and communicating data in bite-sized amounts can increase engagement all around.
3. Storytelling Everywhere
Key take-away: Emotion is required for action, whether it’s consumer buying behavior or client/stakeholder decision making, and nothing gets to emotions better than a good story.
4. Rise of Machine Learning
Key take-away: Advances in machine learning mean that computers can take over hours of laborious hand-coding of text and emotion—it’s not perfect yet, but it is much more scalable.
5. Visualization Drives Clarity
Key take-away: Visualization in survey design can help increase accuracy (e.g. visual scales, pictures + words), while in reporting and strategy documents, it’s a way to bring the content to life.
6. Behavioral Research: Actions Speak Louder
Key take-away: Identify research respondents via actual behavior (vs. claimed) to increase accuracy. Also, brain science tells us that most decisions are made unconsciously, so don’t rely only on what people say, but also consider implicit and behavioral findings.
Sarah Faulkner, Principal, Faulkner Strategic Consulting