Market Research in the Time of VUCA

VUCA is a term that we are going here a lot over the next few years, it is a term that goes to the heart of paradigm shifts in the world that require changes in how we deal with our world. These changes reach far beyond the sphere of market research, but they do impact market research and the way we try to help organisations make better decisions. VUCA stands for Volatile, Uncertain, Complex, and Ambiguous. The term VUCA dates back to the 1990s and emerged from military vocabulary and has gained much wider usage following it being adopted by Nassim Nicholas Taleb in his book Antifragile. The key point being made is that the has been a fundamental shift away from a world that is largely predictable to one that that is less predictable, where black swans (unpredictable, major events) are more common, and where the world has moved from mediocristan (a world where the norm is the normal distribution) to extremistan (where the key events do not follow the distribution of the bell curve). What is a VUCA world? One great example of the changes wrought in a time of VUCA is the life expectancy of major companies. […]