Recently, I was approached by a former business partner, Kees de Jong, a Board Member at NLGroeit, an initiative to provide entrepreneurs peer support. During our meeting, he explained the new initiative and some of the challenges the organization faced.
The scope of the project was clearly going beyond traditional market research: NL Groeit needed to conduct an extensive online assessment, based upon feedback from experienced entrepreneurs, coaches and trainers, and to enrich this data with geolocation based information, such as IP addresses and then provide, automatically, actionable insights for their members to develop and grow themselves, and their organisations. Asked if Nebu could help, I proudly answered "Yes, let's do this. We can deliver the exact data you need."
It's not usual within the Market Research Industry to conduct large projects, merging different datasets from various data sources. At least not yet;) This does happen, but it's more commonly found in Business Intelligence departments in modern data-driven companies. For quite some time MR companies have been limited by the lack of proper technology suitable for their specific needs, but fortunately this is no longer an issue.
We can all learn from data-driven organizations. The accuracy of the service provided by extensive and automated data analysis is impressive, triggers customers to take action and moves the company towards exponential growth. Just think of Booking.com, Air BnB, Uber. They have experienced rapid growth with little staff or management overhead. They are agile enough to adapt to rapid changes and challenges. The model they have adopted is becoming more popular because it has proven to be very effective.
This is also a reason why market research companies should find a way how to enrich survey data with other sources, for example, with transactional data derived from CRM systems or brand sentiment analysis pulled from social media channels. As a market researcher, you want to be able to underpin the best strategic choices for your customers. They need to be getting a return on their investment, the core decision for that investment being the research you are conducting . There is only one way to succeed: You need to provide actionable insights to drive the right business decisions. Survey data might be not enough, as was the case with the NL Groeit project.
The goalof the project was to deliver to NL Groeit actionable insights, for both internal and external purposes. Internally, the insights provided helped to limit the amount of manual work and improved accuracy in assigning the right educational track for entrepreneurs. Externally, the data continues to provide real-time support to assist in identifying entrepreneurial and organizational blind spots.
The entire project is based on two products: Nebu Dub InterViewer (data collection software) and Nebu Data Hub (data management and processing solution). End-to-end it consists of a few steps, yet the beauty of working with Nebu software is that the setup of the entire process is prepared upfront. It means that a real-time dashboard to support NL Groeit's decisions, around learning and management development of their members, is provided from an extensive online assessment, enriched with geolocation data, as a fully automated solution.
If you want to know more details about our project, download the case study by clicking on the button below or request a call by submitting the form on the right.
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