For businesses to achieve greater ROI on R&D and marketing investments, they have to get smarter about how they use their data. Despite the billions of dollars that have been invested in technology to collect and house proprietary data, companies still have not integrated the right data across the organization to ensure that decisions are made based on the most complete data picture possible. This is particularly true in the market research space.

Integrating the right data across silos and gaining deeper insights of the attitudes and behaviors of ideal target audiences enables companies to formulate the right business strategy that includes product development, optimized marketing communication, and high-performing media and advertising promotions.  

The abundance of first-party data – like an organization’s CRM or behavioral data –  is powerful when it can be integrated with primary research data – like panel data from a quality data service provider like Research Now – to collect deeper, previously unattainable, insights from more precise audiences. The fortified insights lead to greater ROI from their technology and marketing investments.

For example, connecting implicit first-party data to explicit market research data lets businesses not only tap into the “who” and “how” aspects of data that’s collected, but also understand the “why” behind consumer behavior in order to align business strategies and achieve superior business returns and outcomes.

Accurately understanding the attitudes and behaviors of the right audience and confidently predicting future consumer and market behavior allows forward-thinking companies to turn a good business strategy into an industry-best. Case in point, with its acquisition and integration of Whole Foods, Amazon has signaled their plans to disrupt the grocery business. It’s Amazon’s more complete and integrated understanding of the customers’ shopping journey that will lead to the evolution of the retail shopping experience. Companies that integrate the right data across the organization will be better positioned for success.

For some industry-specific applications and best practices, download our latest eBook, Big Data Across the Customer Journey: Precision Research for Value-Added Performance and ROI.