One of the best investments any company striving to be more customer-centric can make is an insights engine.
A Harvard Business Review article describes insights engines as market research groups with a “fundamentally strategic role,” responsible for distilling insights that “enable transformational actions” for their organizations. We’ve defined an insights engine as “a combination of the right people, technology, and processes to increase the accessibility and visibility of insights, ultimately empowering stakeholders to make customer-centric decisions.”
In both definitions, the key is that research groups must be distilling and distributing insights in ways that drive meaningful business decisions. And that means organizations shouldn’t just be investing in conducting or commissioning research, but in ensuring the resulting insights are packaged, shared, and preserved in ways that maximize their value.
Implementing an insights management platform, which centralizes insights and makes them easily accessible to stakeholders, is often one of the first steps