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More Than Market Research - Gain The Information Advantage

Tom H. C. Anderson - Next Gen Market Research™ header image 6

The NGMR Top-5 HOT vs Top-5 NOT: Predictions From The Who’s Who of Future Research

March 8th, 2011 · 15 Comments

The largest ever spontaneous collaboration in marketing research industry history!

At exactly 9:00am EST this morning, well over 35 NGMR-Top Bloggers agreed to simultaneously post what they believe are 10 important things to consider for the research industry going forward. More specifically, we agreed to each list what 5 things will continue to be “Hot” and what 5 things will “Not” be very relevant within research during the next few years. So that our answers would be unbiased and more interesting, we agreed to not discuss it with anyone prior to posting.

What’s equally interesting, I think, is that something as spontaneous and collaborative as this is possible in research today. It’s in no small part thanks to the openness and positive collaborative nature of social media. As of yesterday, over 35 NGMR-Top Bloggers had agreed to participate! Partial list below will be updated once I get the final count.

TomHCAnderson
Communispace
MarketTools
KDNuggets
Synovate
ModlandUSA
DigitalMR
Element54
Research Arts
MDMarketingsource
New Market Research
Social Metrics
Canek Riestra (In Spansih)
Netquest (in Spanish)
Direct Effects
Panoptika’s Table
Discovery Research Group
TouchStone Research
Edison Research
In-Depth Research
Nick Black
Subtext3
Research.Opinionated.Insightful
KL Communications
Relevantinsights
Itracks
Clintelica
GfK
Kumeugirl
Accelerant Research
InsightExpress
Sentient Insights
Perspectives on Consumers
Harrington Research Associates
Wooldridge Associates
Trevanian Legg
Face Group

So, now on to my own 10 predictions.

The 5 HOT

  1. Advanced Analytics including data mining, text analytics, predictive analytics, network analysis, and modeling will continue to see tremendous growth.
  2. Convergence of EVERYTHING! Because of the sheer volume of data, any one piece of data is becoming less valuable. Where formerly there were competitive internal silos who protected access, sharing of data is now becoming commonplace. Sharing is happening not only between different departments but even between different companies! Convergence isn’t all about sharing though, it can also be extremely competitive. Partly because of the data available on social media, agencies from Advertising to Market Research to Social Media Monitoring and PR will all converge on this data and try to own it analytically. Expect friends, clients and competitors in brand new places!
  3. DIY (Do it Yourself) market research is no longer a dirty word. It’s become mainstream and clients everywhere demand to be able to access data and analytics tools and be very particular about when and what they decide to outsource to research vendors. Smart vendors will acknowledge this and either provide these tools, move much higher up the value chain, or disappear…
  4. Strategy will be far more important. With data everywhere, clients will expect a more educated research supplier, one that can help them best leverage data and help them plan the way going forward.
  5. ROI - Holy Cow! We’re finally going to be able to measure it. Thanks to the greater proportion of online marketing dollars, the connected and converging media and viewers, it will finally be possible to measure success and tie it to expenditures accurately. Both good news and bad news for some…

The 5 NOT

  1. WordClouds - I predict a savvy client side executive will soon fire a high profile supplier for showing one word cloud too many. Word will spread and we’ll think twice before using these again. That is not to say aesthetics in reporting will become any less important or interesting, quite the contrary. — Before that happens, I myself will probably be guilty of using them at least once more here on the blog though ;)
  2. Blogmining - Too simplistic. Greater honesty and transparency about what is available and what is important. Social Networks will play greater role, data is free and everywhere. Companies want to know what the common person is saying, not just the social media elite (us geeks). Social media and text analytics will fall into either general monitoring or if ad-hoc be far more scoped out. But as social network data becomes more available the term “blog mining” will fall out of existence faster than the term “web 2.0″ did.
  3. Trade Orgs Will have a much harder time in proving their ROI in either dollars or time investment. Networking (their single most important purpose) is happening online, for free and available at our convenience. Similarly, presentations are happening online via WebEx and other channels, many which are now as good or even better than what is often available at most conferences. As a result, expect a much needed shakeout where only the best, who offer unique value, will remain. They’ll also need to learn how to leverage social media far better.
  4. Cost Cutting and Quality Standardization measures whether ISO, offshoring or whatever you call it - if clients want to save costs, they’ll DIY or offshore themselves, why have it marked up by a middle man? A greater understanding of the research process including quality improvement is a major reason clients opt for DIY. If you think lowering costs while attempting to maintain quality is a strategy for maintaining competitiveness — Good Luck!
  5. Privacy (at least as we knew it) What it means for individuals, legally and for research will be unrecognizable in the near future. It will be impossible to prohibit aggregation and transfer of data. Other security methods will be invented. No one will believe you when you talk about privacy. Instead, citizens will opt for DIY options to protect themselves.

OK, that’s it for now. The NOT’s were definitely harder. Probably at least a couple of them will prove to be accurate. Now I can’t wait to see what my fellow NGMR-Top Bloggers predicted! (You can follow new posts on Twitter with tags #NGMR and #5Hot5Not)

@TomHCAnderson

[NOTE: My predictions and views are my own. They do not represent those of other NGMR-Top Bloggers.]

[Post to Twitter] 

Tags: Anderson Analytics · Datamining · ISO · Market Research · Marketing research · NGMR · NGMR Blogger · Social Media · Strategy · Text Analytics · Tom H. C. Anderson · Top Market Research · blog mining · blogging · next gen market research · offshoring · text mining · tomhcanderson

15 responses so far ↓

  • 1 Sean Copeland // Mar 8, 2011 at 9:21 am

    Loved your thoughts and found it interesting that a few of our predictions align (advanced analytics, convergence, strategy, and ROI) . I’ll be reading through everyone else’s predictions today to see where we all agree and disagree! Thanks again for this fun opportunity Tom!

  • 2 Tom H C Anderson // Mar 8, 2011 at 9:26 am

    Thanks for participating Sean! Great minds think alike. The what’s Not Hot was definitely a little harder. I think of this a bit like crowd sourcing exercise. Will be very interesting to see the aggregate results. I’m watching twitter #NGMR and #5Hot5Not to see other posts coming in.

    I’ll probably do a follow up analysis as I’m sure a few others will as well. Look forward to some interesting discussion on this later in the NGMR LinkedIn group.

  • 3 element54 » Blog Archive » NGMR Top-5-Hot vs. Top-5-Not: element54′s take // Mar 8, 2011 at 10:40 am

    [...] a group of Next Generation Market Research (NGMR) bloggers are posting their predictions about what will and won’t matter most to the market [...]

  • 4 Tom H C Anderson // Mar 8, 2011 at 12:48 pm

    Join other #NGMR members in our LinkedIn group and give us your 2 cents on #5Hot5Not http://lnkd.in/ps3JVz

  • 5 Enric Cid // Mar 8, 2011 at 12:53 pm

    Let me put my two cents in… Hot in a bad sense: Commoditization. Hot in a good one: Popularization. Absolutely NOT hot: old ways of doing things…

  • 6 Gregory Piatetsky // Mar 8, 2011 at 12:55 pm

    5 Hot topics in Analytics (Market research?): Open Source, Cloud, Social, Mobile, Geolocation

  • 7 Alastair Gordon // Mar 8, 2011 at 3:30 pm

    Good points Tom. On one of them DIY, I have one thought that nearly made our “top 5″, i.e. that DIY will migrate to DIWN (Do it With Networks or some similarly silly acronym). Basically DIY tends to produce at best “adequate” research because the people doing seldom have enough skill sets. However the resources are all there online and accesible these days - and similarly there are more and more world class MR people working in small firms, freelancing or consultants who can do amazing stuff, but don’t like the operations/selling side. What’s needed is bringing them together in a flexible manner - I already know one firm in Asia that is growing fast and works like that — virtually no full time staff and only a tiny small office, but a large, world wide network of helpers. The work they do is far better than many established cos and they are getting some big clients while charging less and making bigger profits!

  • 8 Tom H C Anderson // Mar 8, 2011 at 4:39 pm

    I just heard of a firm this morning who seems to be working on something similar here in the US.

    Not sure exactly how practical it would be. What sorts of projects? What size of firms would be involved? Would buyers feel comfortable with it?

    Personally, thanks to Internet all barriers of entry are gone, my firm has competed against H-Top-5 firms, even on the occasional international project and won. On the flip side, I know how difficult it can be to partner with ‘consultants’ on projects.

    I do agree DIY will evolve and manifest itself in different ways. Would just need to understand more about what you describe being a win-win for those involved. Collaboration can takes tremendous time and effort…

  • 9 Nick Black // Mar 8, 2011 at 4:43 pm

    Great initiative Tom. Thanks for organizing and inviting us all to participate. From a readers perspective, it was worth taking the time to click on each of the links above.

  • 10 Chris // Mar 8, 2011 at 5:58 pm

    Great initiative Tom. It was interesting reading all the insight (after my blog article of course) and following what some of the trend predictions are. There also look to be some common themes which is interesting to see.

  • 11 Tom H C Anderson // Mar 8, 2011 at 7:55 pm

    Thanks Nick, We have a few stragglers still coming in. I learned a lot from this little ‘action’.

    Any NGMR Top bloggers who are interested in being part of our next blog mob DM me on Twitter ;)

  • 12 Eric Bell // Mar 8, 2011 at 8:43 pm

    Tom,

    As usual great insight! Very interesting read.

    Eric

  • 13 The NGMR Top-5-Hot vs. Top-5-Not: From “Fixed” to “Fluid” « All About Qualitative // Mar 14, 2011 at 10:16 am

    [...] Generation Market Research Group, bloggers from around the world each contributed to a group post Top 5-Hot vs. Top-5-Not’ topics in market research.  What follows is this blogger’s take on the [...]

  • 14 NGMR Top Blogs Prove Research Has Humor // Apr 5, 2011 at 12:21 pm

    [...] lot of fun in no small l part due to several Next Gen Market Research Top Blogs who participated in another mass blogging event. This time it was a marketing research related April fools gag. Most of the [...]

  • 15 Top 10 Blog Posts of 2011 // Jan 2, 2012 at 1:52 pm

    [...] 2. The NGMR Top-5 HOT vs Top-5 NOT: Predictions From The Who’s Who of Future Research [...]

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