The most successful companies don’t just have good products and strong
distribution systems—they have a deep understanding of customers. That
naturally requires lots of marketing data, but the authors say it also
takes an “insights engine”—a set of structures, people, and processes
that can translate data into actionable strategy. How do high-performing
organizations achieve this kind of customer centricity? Extensive
research by the lead author’s firm indicates that seven operational
characteristics are critical for a superior insights and analytics
group: It must be adept at synthesizing data, independent from other
functions, integrally involved in business planning, collaborative,
willing to experiment with new technologies and programs, future
oriented, and active in strategic decision making. In addition, the
people who are part of the insights engine share three key traits: They
have a whole-brain mindset (they think creatively as well as
analytically), they focus on business growth, and they are effective at
getting their messages across with engaging storytelling rather than dry
recitations of data. The authors discuss each characteristic in turn,
using the consumer goods giant Unilever as a case study. Unilever’s
Consumer Markets and Insights group, the epitome of a powerful insights
engine, has helped the company generate impressive revenue and sales
growth. INSET: ABOUT THE INSIGHTS2020 RESEARCH. [ABSTRACT FROM AUTHOR]