How to Get the Most From Your Data
As the market research industry continues to evolve, the concept of a 'dataverse' has an increasing role in helping companies get more out of their data.
How to Get the Most from Your Data
After a tumultuous couple of years, the market research arena continues to expand and strengthen in response to this increasingly digital age. The epitome of this shift is the evolution from a more static and fragmented research process, towards a more flexible and immersive ‘dataverse’.
A dataverse enables companies to dismantle current research siloes, so they can aggregate and analyze powerful data from a single platform. It essentially allows businesses to make actionable insights on an ongoing basis.
To maximize what is gleaned from data, a dataverse must hold true to three core principles, it needs to be: Connected, Accessible and Proficient.
Connected
A dataverse should enable customers to connect the dots between research studies, old and new, and multiple stakeholders – both colleagues and clients alike. In other words, it should provide a single point of truth with interactive sharing functions.
Data should either be created within the dataverse itself, or securely uploaded in any desired format. This capability, alongside an intelligent answer code-level search function, would enable customers to create a back catalogue of research studies, itemized by client.
This would deliver two key benefits:
- Consistency – duplicating previous research structures and turning datasets into surveys with one click.
- Efficiency – recycling and reusing existing data.
This single point of truth would shorten the data-to-insight process by days and in some instances, weeks.
With the addition of clever sharing functions, customers could accelerate the speed to insight, by enabling stakeholders to collaborate from the word ‘Go’. Findings and outputs would be logged, and records kept indefinitely.
This ability to find insights faster in such an agile manner, would allow all parties to be far nimbler with research, using it to support decision making on a regular basis.
Accessible
In a world with ever more focus on data and ever more users of it, accessibility and simplicity are critical. A dataverse must have an extremely modern and intuitive interface, to make creation of data analysis and reporting extremely easy. This would allow for very easy adoption for new users, which is often the case when agencies are sharing data with clients for the first time.
There should also be a balance of guided features to personalized capabilities, so customers could either use the default settings or their own – if they have a detailed understanding of statistics.
From a speed and quality perspective, repetition is a huge benefit. With a single click, customers should be able to reuse features, for example, to reapply weightings, or create charts for different waves or markets.
Proficient
Having a fully connected and super accessible platform is all well and good, but it must fundamentally be proficient at its core function of managing, analyzing, visualizing, and reporting data to create insights.
Cloud-based platforms offer significant advantage in this department. They enable customers to scale to projects with 100,000+ respondents and millions of data points without delay, creating insights automatically in seconds.
With a suite of tools to analyze quantitative data, the research process becomes seamless.
The Walr Dataverse
The ability to generate insights on an ongoing basis, within a secure dataverse, is exactly what Walr has created – now the engine behind many of the most successful research agencies.
Walr’s main aim is to support intelligent decision making through the creation of brilliant data. It endeavors to do this by enabling its customers to have a significantly more digitally engaged relationship with its key stakeholders, often for the first time. This allows them to collaborate in real time, find insights significantly faster, reuse and recycle historic data much more easily and empower more users than ever before to get involved with data. All of this done at previously unthinkable scale, with the ability to operate and deliver vast datasets, analysis, and reporting in seconds.
Within the secure confines of the Walr dataverse, all stakeholders can curate insights with simplicity. This leads to a true synthesis of relationships, between supplier, research agency and end client, in which all parties win.
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Speak with us to see how Walr can work for you.
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