Business Tip 15
Making Sense of Market Research Data

The Problem

In the world of market research, data is key. Interpreting data from multiple market research sources such as online, face-to-face and phone interviews is where things become tricky. In the end, clients are searching for reasonable, actionable results and recommendations from rows upon rows of data. With so many data sources and usable results, it becomes increasingly difficult to navigate where to begin in the analysis phase.

 
Oftentimes analysts struggle to balance the world of complex data and providing market-ready recommendations. In the end, narrowing down complete and insightful suggestions from a mountain of data is one of the most challenging aspects to a market research company. So how can analysts become champion heroes for companies while at the same time avoiding the quicksand feel of falling into large amounts of data?

The Solution

While integrating data into one source is a tedious and painstaking task for most companies, there are easy solutions to integrate market research data sets. With tools such as XP3 Data Workshop, research companies can now load their data into “one version of truth” that is accessible to all members of the company.  When data is stored into one reliable location, procuring results becomes exponentially simple. Back-end tools such as these can also help organize complex market research data into customized segments and hierarchies.  In return, this makes it infinitely easier to identify direct correlations in the data sets.

Once results are secured in one location, building dynamic, eye-catching presentations to capture client’s ever-wandering attention is the next step.  With each client specifying new demands and customized recommendations, the manual labor and time spent on creating substantial Microsoft PowerPoint presentations becomes time-consuming. Tools such as XP3 have developed front-end capabilities that allow users to make sense of complex data sets in a dynamic fashion geared towards even the most tech-unsavvy users of your company. XP3 Presentation Builder allows market research companies to format data into content friendly charts and tables by utilizing Microsoft tools such as PowerPoint and Excel.

The time that tools like XP3 can save your company can result in higher ROI on your end while at the same time providing optimal added value to even your client’s most demanding projects.

The data, products and accounts depicted in this example are fictitious. Any resemblance to actual data, products or accounts is purely coincidental.