Insight and Value – two great words. What do they mean, how do we fill them with life and how do they connect to Market Research?
How to Detect Relevant Insights in the Hyperkalemia and Hyperphosphatemia Markets?
The term insight is one of the most used words in marketing context. But what does it really mean? There are numerous definitions including concepts like intuition, perception or understanding. All of them have in common that they are referring to the inner nature of things.
In this sense insights need to be uncovered. It is “something” that is taken from the inside to the outside.
From Data to Actionable Insight
Identifying trends and patterns is key to manipulating data to produce actionable insights. Taking a holistic view of the research process allows one to evaluate the hidden meanings behind trends in data and correlating patterns. All data can be considered relevant data, simply because the uses for seemingly unrelated data has yet to be discovered.
Insights may be highlighted as relevant because they have sudden stunning character, raise curiosity or are mentioned by respondents more often than others. Nevertheless, the frequency is only one indicator for the relevance of an insight.
Other indicators can be a consensus across different target groups or its overlap with a new group, the products’ benefit or whether it opens up a fresh perspective on a common sense aspect.
Remember that quantitative data and qualitative (experience-based) data can carry different degrees of weight. Descriptive analysis can be much more subjective than computational analysis. The key is to assign proper degrees of importance to each value according to the research goals.
From Insights to Value
In highly complex markets, such as the cardiorenal space, valuable insight generation requires good market and marketing research expertise.
Through various techniques in analytics, Hyperkalemia and Hyperphosphatemia PROfilers help clients visualize their market research data and findings. Patterns arise more clearly and actionable insight becomes more evident through visualization. Companies can better understand their market position and receive a broader understanding of the market as a whole.
We use targeted and evidence-based research tools to generate goal-oriented insights:
- Include different stakeholders
- Actively encourage sharing their views
- Apply a mix of data collection methods (quantitative and qualitative)
- Precisely align research topics and questions to goals
The Hyperkalemia and Hyperphosphatemia PROfilers guarantee to detect relevant insights due to the iterative and modular process, as early as the first research step. Real-life experience becomes key in this process.
PROfiler uses the revealed insights to optimize the research from one step to the next and to highlight those that have more potential.
PROfiler even goes a step further – it does not only evaluate qualitative real-life experience, it adds complementary data to transform insights to value (i.e. high level market potential estimates).
to be continued…
Contact us if you want to know more about our hyperkalemia and hyperphosphatemia PROfilers.