It is said that 90% of all digital data was generated in the last few years. In our experience, most organisations have more data than they know what to do with. Knowing how to harness this data and unlock hidden stories about what your customers are doing, or might do in the future, is a powerful tool for brands and businesses looking to improve customer loyalty, anticipate consumer behaviour and optimise marketing strategies.
Analysis of patterns in data can uncover what makes people tick: what drives us to like certain products and services over others; how our underlying attitudes drive our behaviour and the brands that we choose; the value we place on different aspects of a product or service.
There is power in knowing how to unlock the hidden stories within. From data generated by bespoke research studies to organisations' customer data, and increasingly both together, we can find hidden insights to support your business decisions and produce more robust insight. Our toolkit for data analytics includes:
Forecasting and Data Modelling
How we do it.
Mining existing data sources
Better understanding of your customers is the key to success. Analysis of patterns in data can uncover what makes people tick: what drives us to like certain products and services over others; how our underlying attitudes drive our behaviour and the brands that we choose; the value we place on different aspects of a product or service.
Sales forecast modelling
Predictive modelling can help you plan for the future, modelling your historical data alongside readily available financial and economic statistics, providing you with forecasts to help with short-term and long-term strategising. Our experts can model sales of your product, demand for your services and help you understand which customers are most likely to churn... all using existing data streams.
Understanding key drivers
Knowing the factors that are linked to a good opinion of your brand is key to success, especially in the new product development process. Where exactly should you focus your attention? With pricing, product features, packaging and countless other variables for consumers to decide between when making a purchase, driver analysis can understand which points are most important to consumers in real-world buying situations. Key analytics that facilitate success.
Segmentation for modern brands
Do you really know your customer types? Dividing potential markets or consumers into specific groups can be tricky, especially as the wants and needs of modern consumers can change daily. We believe it’s just not feasible to simply lump all ages, genders or other segments together as one. Our segmentation modelling goes beyond simple demographic and psychographic models, using behavioural science and neuroscience to create segmentations that consider every customer type, how they like to be communicated to and which products meet their needs best.
Perfecting the pricing matrix
How should your products be priced relative to the competition? In a crowded market, price can often be the deciding factor for the modern day consumer. Price sensitivity analysis through to more complex conjoint (trade-off) techniques can help perfect the pricing matrix.
Human understanding at every stage
Why study data in a silo from insight and research? If you have existing data - whether it's "big data" or not - telling you “what” your customers are up to, why not employ additional market research methodologies to dig deeper and understand “why” a customer behaves like this?