INSIGHT on INSIGHT: Getting to the What If

In addition to understanding current or historic behaviors through POS data and getting at psychographic motivations driving those behaviors (the why), most companies want to get to the holy grail of insight:  Being able to know what stimulus is most valuable to change and know exactly how it will change future behavior.

This is the what if:

What if I increase my price by 10%?

What if I change my value proposition?

What if I update my package?

What if I introduce three new variants?

What if the competition launches a knock-off of my product?

What if my product is out of stock?

Of course, perfect clairvoyance would make a company extremely successful extremely fast.

Fortunately, it doesn’t take much insight into the future to give most companies a significant advantage over the competition.

But it takes commitment.

It requires a thorough understanding of the current state.

And it requires knowing what questions to ask.

And it requires knowing how to get accurate and complete answers to those questions.

LEARN AND KEEP LEARNING

They say we must understand our history or we are doomed to repeat it.

But as you invest in the study and understanding of your historic POS data, don’t forget to consider the value of improving your ability to look into the future.  

And never forget about the power that comes with actually being able to shape what that future looks like.