Delivering new insights with data science and market research.

Posted by Nick Eul-Barker on the 1st August, 2019
Businesses want to see the full picture of their customers’ buying motivations, but their vision can be blurred by a disjointed insight industry. Bringing together the ‘what’ and the ‘why’ of customer behaviour is the only way to create clarity.

A true vision of the customer mindset is essential for any company in interpreting what will be purchased and why. As businesses compete for popularity in a demanding economy, the ability to explain, predict and influence customer behavior is crucial to creating stronger relationships with customers and the successful development of products and campaigns.

This requires a combination of data science, to understand what people are doing alongside market research, neuroscience and behavioural economics to discover why. Joined up, this insight provides enhanced understanding, enabling businesses to make better strategic decisions. The close relationship and expertise of Realise Unlimited and Walnut Unlimited as sister agencies in the Unlimited Group allows for this seamless blending of data and research. These combined services can understand customers, enhance marketing and communications and personalisation of products, enabling profitable change. The route to doing so is joining together the ‘what’ and the ‘why’ of behavior to secure strong lifetime value.

This approach is now becoming a top priority for clients. For some time, companies have utilised data analytics and market research in silos, but they are now entering a new phase: desiring that their insights are blended to achieve true behavioural understanding.

Companies will often have lots of sales data that details customer behavior. When a customer makes a purchase, this isolated behaviour may indicate the customer is positively engaged. In reality, the customer may have had a negative experience along their customer journey or disliked their purchase after sale. Without a holistic view of the complete experience and better understanding of that customer’s motivations, a brand cannot truly predict potential future activity.

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As featured in the Raconteur special report, the Insight Economy 2019

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