Compared to my last post, today, this post talks about slightly better ways to miss the stories. When we don’t try to get the very basic data and the story, there are very high chances we are totally preoccupied; it is like we are rushed to act, keep speaking and acting, and not ready to listen or reflect at all.
As the companies become more aware of the importance market research, feedback, and the power of intangibles, they generally don’t stay totally preoccupied. Now, many of the today’s companies make conscious efforts to listen, reflect, and collect information. Despite these conscious efforts, there are chances that they sometimes miss the insightful stories.
How does that happen? Here are some thoughts:
Stop Rethinking and Reflecting (or I know what you are saying, so what!)
People within the company extract some information through various sources, but there is not much actionable insight. They miss transforming valuable data collected through existing systems or survey feedback to get deeper and better insights. Often, the data in its original form does not lend itself well to certain types of analysis; in those cases they need linear or non-liner transformation. Data transformation helps make the data more meaningful. In addition to the transforming, they often fail to dig deeper by adopting the right qualitative and/or quantitative analytical techniques.
Don’t Ask More, and Respond (or I know you said something meaningful, but I don’t want more!)
People within these companies sometimes get the right actionable insight and take actions based on the insight, however, they fail to get feedback on the impact and accuracy of analytical methods. They have good data but don't explore or dig into the importance of results and assessment of the analytical techniques. They don’t relate and combine the qualitative and quantitative insights from multiple data sources.
The increasing amounts of data and noise all around us create lots of opportunities and challenges. Now, with increasing amount of stories all around us, it is possible for us to listen more, get faster responses, have more frequent feedback, and reflections. However, before reaping those opportunities, it is important for companies to break the old habits of being preoccupied.