Data, Research and Insights Explained
What is data, research, and insights?
Data, research and insights supports all businesses from start-ups to the world’s largest multinationals and it accelerates the work of charities and governments to achieve social change. It is a €70 billion sector, employing over 135.000 people worldwide.
Data, research and insights are used to measure markets, guide new product developments, increase consumer understanding and enable business growth.
Data, research and insights is being used by charities to support advocacy campaigning and raise social understanding.
Data, research and insights is being used by governments to improve the quality and responsiveness of public services and guide policies.
What is market research?
Market research – the fundamental basis of the data and insights profession - is about listening and understanding people’s views, and interpreting this information to guide brands, organisations or governments when making decisions.
From the everyday products you use, the films you watch in the cinema, the food you eat, to governmental policies, humanitarian causes – research has played a key role in the journey from concept to you.
It is about analysing and interpreting (the right) data to build information and knowledge that can be used to predict future events, actions or behaviours. This is where the real skill of our profession lies.
Insights enable people all over the world to understand and interpret the increasingly complex world we live in.
Official definition from the ICC/ESOMAR International Code on Market, Opinion and Social Research and Data Analytics
Research which includes all forms of market, opinion and social research and data analytics, is the systematic gathering and interpretation of information about individuals and organisations.
It uses the statistical and analytical methods and techniques of the applied social, behavioural and data sciences to generate insights and support decision-making by providers of goods and services, governments, non-profit organisations and the public.
See our members in action? Check out our Eureka Success Stories!
That ah-ha moment when you discover something you did not expect. Every day reputable market, opinion and social research organisations deliver these moments to their customers helping them to improve their bottom lines, deliver top-class public services, or help build fairer societies.
Discover amazing Eureka’s below and the methodologies used to lead to these great discoveries. In each and every story you’ll discover what research commissioners are learning about the world around them and the impact it’s had on their organisations.
Data, research and insights is in the midst of an exciting revolution brought on by digital technology and new engagement techniques. Check out how our sector is re-inventing itself.