HCD recently attended the MSI 2024 Analytics Conference in Washington, D.C. which focused on future proofing your marketing analytics for more insightful actions and making better strategic decisions. Many of the speakers at the event talked about topics related to the changes our world is making to be more privacy forward, as well as other speakers who focused on the importance of driving your analytical plans with thoughtful decisions before diving deep into research. Visit this link (MSI 2024 Analytics Conference: Future Proof Marketing Analytics in a Privacy-First World – MSI – Marketing Science Institute) to view the MSI conference event page which has an overview of what the event was, the list of presentation topics, and a bio of each speaker!
Our Team’s Key Takeaways from the MSI Conference were …
It is fundamental to have clear and concise goals and objectives at the very start before embarking on a research project. Finding your data with a purpose.
Ambiguous questions lead to miscommunication and poor research decisions, making it more difficult to uncover actionable results.
There is a benefit to having “snackable” outputs that inform your business decisions; not every actionable result has to be monumental in size, but rather in impact (i.e., uncovering smaller insights that help people in their day-to-day).
Always be sure to tell a compelling story with the insights that are uncovered, and once the story is finished, celebrate the findings with the rest of the team (i.e., whether that is through immersion days or bottles of champagne).
The first speaker of the conference, Stefano Puntoni (Sebastian S. Kresge Professor of Marketing, University of Pennsylvania), stressed the importance of finding your data with a purpose. Ambiguous questions can lead to miscommunication and poor decisions. Making sure you consider this prior to kicking off research is very important. Being more targeted and concise with your research questions & objectives has the potential to drive more targeted and effective insights for you and your team. With this, it is also important to be more deliberate about the metrics you use and how to concisely summarize the data once you have it.
Mary Beth Jowers and Inna Kuvich from Pernod Ricard hit on other important aspects to analytics. A point they made, that the HCD team took note of, was how “snackable” outputs are just as important as substantial ones. Not every insight that we find in research will be a monumental change, but rather it could be smaller changes that amount to impactful day-to-day transformations. They also stressed the importance of storytelling! Telling a compelling story with your data that is clear and concise is just as significant as collecting the ‘right’ data. Then when the project is all said and done, make sure to celebrate the findings with the team – whether it is “cheers”ing with champagne, or immersion days. Then you move forward by regrouping, refreshing, and revamping for new insights!
Overall, the MSI conference was a success for some informative and reaffirming insights for our HCD team!
Comentários