It’s the Behavior, Stupid: What is the single biggest threat to market research? – Neil Gains

Post by Neil Gains, the founder of TapestryWorks, based in Singapore. What is the single biggest threat to market research? Data! Data represents the existing business model of large multinational research companies who make money by selling as many interviews/surveys/data points as possible for as high a CPI (cost per interview) as possible. Data also represents a huge part of the future of market research. While “big data” is an opportunity to extract value from the ever-increasing flow of data from businesses and from the multiple devices that we all use at home and as we go about the world, this is also a huge threat. It’s a threat for market research companies and businesses, most of whom do not have the skill set to manage and analyze large data sets. More importantly, it’s a threat to the talent in the industry. As the pool of data grows every year, it becomes more and more important to have the thinking skills to ask the right questions, and connect different information sources together. This is not a skill that can be automated. And finally data represents the focus of much of market research on “measuring to manage”. By definition, most large-scale […]