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Maximizing Insights for Effective Activation: The Role of Advanced Analytics

Michael Patterson, Radius Insights, Radius Global Market Research 2021/10/michael-patterson-bio.jpg

by Michael Patterson, PhD

Chief Research Officer

Brands rely on survey data to perform advanced analytics, a key building block that helps uncover valuable insights that drive effective activation strategies. DIY survey tools that offer plug-and-play convenience may provide a way to gather data quickly, but trading speed for accuracy can result in unreliable, and often misleading, results.

DIY tools may be helpful for some projects, but conducting meaningful research requires a comprehensive approach that begins with discovery to ensure the right questions are being asked in a way that will deliver data sets that are framed for analysis. Before we approach survey design, our team talks with a broad range of stakeholders to understand the brand’s underlying issues and goals. Input is critical to align the research with business objectives and helps us establish structure for the overall project.

DIY tools may be helpful for some projects, but conducting meaningful research requires a comprehensive approach that begins with discovery to ensure the right questions are being asked in a way that will deliver data sets that are framed for analysis.”

 

The role survey design plays in conducting effective research.

Developing a survey involves a complex process that draws from expertise in question design, response options, scales, and overall survey construction. Our approach to designing effective surveys focuses on critical elements such as:

  • Effective question wording and avoidance of double-barreled questions to ensure clarity.
  • Appropriate response options and scales that employ psychometric principles for more reliable and actionable data.
  • Constructive survey flow that enhances respondent engagement.

Design can be particularly important for a choice model process, so our Advanced Analytics team consults throughout the entire phase to ensure word attributes items are phrased appropriately, tested price points are optimal, and item combinations are realistic and will result in the most accurate results.

Some DIY providers will also recruit panels, and this can be problematic. Knowing how panelists are recruited and ensuring they represent the target audience can significantly impact the quality of data obtained. We have reliable recruiting and sourcing methods to find qualified respondents and avoid survey fraud which has become all too prevalent.

Guiding clients through the survey development phase ensures strong survey attributes, optimal display of information, and robust quality.

 

A thorough approach mitigates risk.

Conducting research end-to-end is a multi-step/multi-phased process. Our Advanced Analytics team consults from start to finish to hone the research structure, mitigating the risk of flawed analyses by carefully reviewing statistical assumptions, and identifying pitfalls that can lead to erroneous and misleading results. This approach delivers accurate data analysis and interpretation for reliable and valid research outcomes.

To enhance the advanced analytics process, we design custom models and tools that teams can work with. For example, our choice model simulator allows teams to optimize product features and configurations to maximize potential market success. This process can eliminate days or weeks of testing product combinations by analyzing millions or even billions of potential combinations, so teams can identify the sweet spot for product adoption, revenue generation, and profitability.

 

Data stories distill advanced analytics into digestible insights.

Distilling advanced analytics into rich stories that team members can act on is essential. A wide range of stakeholders can benefit from the research, so communicating and disseminating the insights throughout an organization hinge on bridging the gap between complex data analysis and practical implementation.

 

Concept illustration of business ideas with woman and gears

Distilling advanced analytics into rich stories that team members can act on is essential. Communicating and disseminating the insights throughout an organization hinge on bridging the gap between complex data analysis and practical implementation.”

 

Our approach includes tailoring presentations to the specific needs of various stakeholder groups, and scheduling meetings and sessions to ensure the insights are understood and embraced across the organization. We will often hold a Looking Glass™ session where we take a large group through the main findings, and then host breakout sessions or meetings with specific groups such as the marketing or digital teams, to share the findings that are specific to them.

We meet the learning style of each team, delivering technical tools and spreadsheets to the data team, for example, and developing visualizations, infographics, or data stories that can help stakeholders in marketing or operations develop strategies based on the findings. Our goal is to consult with clients for 3 – 12 months after the findings are presented to ensure they understand the implications the data has for their team so they can continue to make informed decisions and execute strategy successfully.

 

A strategic partnership delivers rich activation options.

Strategic surveys and advanced analytics transform activation planning for brand teams. By partnering with stakeholders from the discovery and design phase to the data analysis phase and beyond, we help brands gain accurate and actionable insights they can leverage to drive their growth strategy forward.

Want to learn more about our approach to survey design and advanced analytics?

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