INSIGHT on INSIGHT: Utilizing Sales-Based Insight (or Data-Point) Design
WHAT AND WHEN: Proper usage
Data-point or sales-based insight is a tactical, but very useful tool. It is often done as a last-minute solution or in reaction to an unexpected need to answer a single question or fill a specific information void.
It is similar to narrow & deep insight in the fact that it is designed for a very specific purpose, but this insight is typically even narrower and less deep. It typically involves an internet-based data capture (through omnibus surveys, polls or mobile platforms) to quickly capture quantitative information.
Data-point insight is a poor value if one considers the quantity of learning relative to the cost. However, it can deliver a huge ROI when it closes a big sale or validates a big decision.
WHY: The benefit and value
The benefit and value of data-point insight is directly tied to the tactical need it is addressing. More than any other insight, these data-points are created to drive specific decisions.
Data-point insight can close the sale on new distribution worth millions of dollars. It can also silence internal questions, objections or contradicting opinions from the C-suite preventing further work on new products or plans to grow existing products.
HOW: Tips to guide a basic approach
The pointed focus of this work requires a very clear understanding of what decision-makers need to see. It must also consider scenarios where results do not come back as expected. Or as clear as expected.
Approaching this type of insight is largely about managing the risk of results coming back different than expected. Some things to consider include:
- Understand both the question needing to be answered and the underlying elements or factors driving the question. Determine if answers to deeper or different questions are really needed.
- Understand what threshold must be met for the results to be accepted without continued debate.
- Understand if additional approaches could be used to answer the core question from multiple angles.
- Understand if additional dimensions or context are needed to understand how to interpret the results.
APPLICATION: What to do with the results
Data-point insights typically need limited interpretation or analysis. However, they should be visualized in a clear and compelling manner to avoid any confusion. Other ways to ensure application of this work is successful include:
- Spend time in advance agreeing to exactly how the results will be used to make decisions before the results actually arrive.
- Try visualizing the results in multiple ways, using different types of graphs, charts, tables and color formatting to draw attention to the answer.
- Include a clear and concise recommendation statement based on what the results indicate.
- Consider how much additional information is included as context (before it becomes a distraction)
- Determine how important it is to dispel conclusions that any other answer or conclusion could be correct.
- When the answer is not clear, consider delivering point:counterpoint reports that provide all the insight that supports or contradicts each possible conclusion.