Marketing Research Sector – From Insight to Foresight?

Another morning that made me thinks in which direction is my career heading? Am I going to be the new hype – the Nate Silver of Middle East? Or am I going to drown in the data piles around me? Marketing research sector at large, haven’t introduced a game-changing idea for quite some time now and as the information age is coming of age the need of conventional researchers is reducing. So what should we do….? Lead or follow? change careers?

And guess what! Miss Monneypenny from ‘Sky fall’ was able to answer my question – She says “An old Dog should learn new tricks”

Here is a presentation, that you might find useful

Jokes apart, I recently attended a training course on Business Planning, and I have learnt one key thing. All markets mature and all products age, you must stay ahead of maturity and keep on innovating. Innovate anything like process, customer expectation, resource utilization, market differentiation. But you must innovate if you want to survive.

So what should I innovate in my projects, what should Marketing Research Sector at large innovate?

In my opinion, we should innovate our human capital. Instead of producing a whole squad of insight discoverers we should aim at producing decision facilitators.

Market Researchers who can give input on processes, business scorecards, performance monitoring and managing systems, marketing strategies, sales plans and forecasts.

To enable us increase and improve the pricing model of research sector. To help us sustain the competition from social media monitoring industry and consultancy firms.

The slide deck reflects my thinking, and following is what I think is a summary of my vision for MR sector. have a look and let me knowwhat do you think

Data to Decision Value Chain

P.S. And while you are thinking about it, listen to this song – it helps to focus. (or okay lets’ admit it I liked the movie a lot)

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