2019 NYC Insights Executive Roundtable - AI strategies to run an insights-driven business March 29 2019 - Market Logic Software
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2019 NYC
Insights Executive Roundtable
AI strategies to run an insights-driven business
March 29 2019
Market Logic © 2019 CONFIDENTIAL | 1
Attendees
Jessica Bernow Sandipa Dublish
Director, Research Agency Sr. Director Commercial Insights:
Management & Operations Inflammation & Immunology
Jason Chebib
Justini Hung VP Consumer Planning
Director Customer
Insights & Analytics
Val Foti
SVP Marketing and Customer Experience
Therese Glennon
VP Customer Insights & Market Research
Joaquin Garcia-Lopez
Director, Global Market Research Excellence
Carol Mannino
Director - Consumer and Customer Insights
Michelle Mattrey
VP Insights & Analytics
Michalina Longo
Richard Thorogood Sr Manager Competitive Intelligence
GVP People, Culture & Market Insights
Frank Santiago
Global Knowledge Management Manager
Valerie Molina Karen Scherbaum
Consumer Research Assistant GVP Consumer Insights
NYC Roundtable 2019 Market Logic © 2019 CONFIDENTIAL | 2
Attendees
Flynt Tuller Roberto Cymrot
AVP Global Marketing Director Consumer Insights
Strategy & Science
Steven Karunphand
Marketing Sciences Knowledge
Management & Operations Leader
Alyssa Elser
Siddartha Adukia Director, Customer Insights
Director
Lauren Banks
Katie Solovieva Market Research Specialist
VP AlpaWise Primary Research
Kent Bassett
Tina Tonielli VP Global Consumer and Shopper Insights
VP Global Consumer Experience (Insights)
Colleen Fahey Rush
EVP, Chief Research Officer
Jackie Chan
VP, Head of Decision Insights Group
Daniel Blatt
Director
Allyson Hugley Jenny Michelman
VP, Analytics & Market Research Global Consumer Insights Manager
NYC Roundtable 2019 Market Logic © 2019 CONFIDENTIAL | 3
Agenda 10:15 Colgate-Palmolive case study 11:15 AI to run an insights-driven business 11:45 Panel discussion 12:15 Networking lunch 14:00 Close Welcome from our host Richard Thorogood, Global VP Insights at Colgate-Palmolive Richard welcomed guests to the third NYC roundtable, recalling the first meeting in 2017 and the significant chnage in the field of insights management since that time. In this context, he introduced the Colgate-Palmolive knowledge management team and their journey to transform from a research tool for the insights organization to a business platform that drives commercial decisions. NYC Roundtable 2019 Market Logic © 2019 CONFIDENTIAL | 4
Case study: Colgate-Palmolive
“Driving Insights Globally: the dig journey, March 2019”
Frank Santiago, Knowledge Management Pioneer
Valerie Molina, Knowledge Management Associate
Frank Santiago sketched the diversity and technology from Market Logic. Following a
breadth of Colgate Palmolive, which spans pet successful pilot, where standard software was
nutrition as well as oral, personal, and home configured to reflect Colgate’s unique ways of
care sectors, and 34,000 people generating working, the team decided to deploy solution,
$15.5 billion revenue in 200 countries. A immediately focussing effort on branding the
global insights team supports this work with platform for success.
feet on the street in every regiont, and a
knowledge management team to “effectively
“Our goal is to effectively
capture, transfer, access and synthesize the
right insights, knowledge and information in a capture, transfer, access
user-friendly way”. and synthesize the right
insights, knowledge and
Unlike many companies, Frank said Colgate- information in a user-
Palmolive has invested in knowledge
friendly way”.
management function since the 1980s,
Frank Santiago, Global Knowledge
starting with a physical library that upgraded Management Manager
over time using the technology of the day to
organize research resources for the insights Valerie Molina explained that the deployment
team. In 2016, the team decided to take the journey started with a name that goes
knowledge management to the next level with beyond the idea of searching for insights:
NYC Roundtable 2019 Market Logic © 2019 CONFIDENTIAL | 5
Driving Insights Globally (DIG). This was the are investing saved research dollars in new
foundation for a logo that stood apart from foundational insights. Most importantly, they
the frequently-used light bulb icons that are consistently making winning decisions
litter the insights landscape. Additionally, that boost growth”.
the brand and activation strategy needed
a spokesperson, so the team developed Building on this success, Frank said DIG
Darci, an avatar that guides users through expanded from “everything in one place
their training programs and appears on all … to an automated platform to dig, create,
branding, from merchandising to posters, collaborate, approve, build knowledge and
events and monthly newsletters. share insights, with a fully automated end to
end research process”.
By 2017, the team had already started
“digging” for insights. In addition to The platform supports creation of the
searching and finding insights from project budget, development of the project
qualitative research, the team introduced details for signoff with internal stakeholders,
benchmarking libraries where users can supplier selection and proposal
search concept, copy and pack tests by development, procurement approval
topic, category and region, and sort by commissioning, acceptance of results and
standard test scores and KPIs. This makes publication for re-use. End to end research
it easy to review past creative, as well as support is expected to deliver efficiency
learnings from past campaigns. Dedicated savings of 10% on the research spend, by
libraries are also provided for easy access reducing duplication of research through
to brand health reports and Marketing Mix more efficient vendor management.
Modelling.
For Frank success factors include a
centralized system for self-service, better
Teams have stopped ways to partner with research suppliers,
repeating past mistakes, and benchmarking libraries. The success of
and are investing saved DIG, he said, was due to the close teamwork
between insights leadership, insights
research dollars in new professionals, the IT team, and Market
foundational insights. Logic. In closing, Richard acknowledged
Frank Santiago, Global Knowledge that the technology is but one part of the
Management Manager
transformation journey. “We used to guard
insights fiercely, now we are getting better
Frank said “return on insight from these at curating and promote knowledge to our
libraries can be described in terms of business.
efficiency and effectiveness”. For efficiency
gains, teams access relevant tests at any The next step is to deploy the platform
time and have stopped repeating known across the commercial enterprise so that all
concepts. They also get better results on the sales people have the insights they need
their first try, while reducing the number of when they go out and talk to accounts.”
tests needed to achieve action standard.
From the effectiveness vantage point, teams In a lively Q&A, Richard, Frank and Valerie
have stopped repeating past mistakes, and fielded questions on usage barriers, ROI,
NYC Roundtable 2019 Market Logic © 2019 CONFIDENTIAL | 6
resources, introducing a culture of knowledge sharing, remote access and impact on agencies.
They said:
• Start with a fully populated system so users see great results from their first
search onward
• Be prepared to adjust and optimize workflow configurations, as software enforces
ideal best practices humans don’t always follow
• Integrate secondary sources to extend reach
• Reward people and agencies when they upload content to encourage compliance,
and automate wherever possible to eliminate effort
• Equip users with a mobile app so they can challenge positions and arguments
in meetings
• The main source of ROI is cost avoidance through the elimination of “preventative research,”
and time saved to focus on driving insights through decision processes.
NYC Roundtable 2019 Market Logic © 2019 CONFIDENTIAL | 7
AI to run an insights-driven business
Jason Childers, VP Global Solutions, Market Logic
Jason reminding everyone of what they perspective, “Market Logic’s own client
already knew: “in the age of the customer, data benchmarking shows that knowing what you
and analytic-driven actions are essential. The know before you research saves up to 15%
data and analytics are there, and companies on your budget”. Transforming from data-
know they need to use them (in fact, 73% of aware to insights driven involves re-setting
businesses aspire to be data driven), but most fundamental operating principles. Jason
companies don’t know how to turn data into said that inside data-aware firms, users go
action. It’s a massive insights gap”. to information when they think they need
it, so business decisions are only supported
So how can companies close the gap between by data, while centralized reporting breeds
data and insights? Jason said Market Logic over-reliance on expert teams.
technology is designed to help companies
connect all their data and tools on one By contrast, inside insights-driven firms,
platform so they can leverage all their research information goes to users whenever
and analytics investments. Agile research they need it, which encourages agile
methods can then be used to build consumer experimentation and continuous learning in
knowledge by generating fresh insights, which cross-functional teams. He then presented
can then be injected in business processes a live software demonstration to illustrate
(innovation, marketing and sales). some of the key success factors to deliver
insights to users, including personalized
Jason shared evidence to show how being user experiences so people get the content
insights-driven can boost revenue growth. they need based on their function, role, and
For example, Forrester says insights-driven reading behavior, and AI powered search to
businesses grow 30% annually (at least 7x automatically summarize answers on the fly,
faster than GDP) , while McKinsey analysis so there’s no need to read reports.
shows companies that integrate data and
creativity have twice the growth rate of those Forrester, 2018
1
that don’t . He added that from an efficiency 2
McKinsey, 2018
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Panel discussion: the insights disconnect Richard Thorogood, VP Insights, Colgate-Palmolive Flynt Tuller, AVP Global Marketing Strategy & Science, Metlife Joaquin Garcia-Lopez, Director, Global Market Research Excellence, J&J Jason Childers, VP Sales, Americas, Market Logic Elizabeth P. Morgan, CMO Market Logic Elizabeth asked panelists whether there was an insights disconnect inside their firms, and if so, what steps they were taking to tackle it. In light of the Colgate Palmolive case study, Richard focused on the disconnect that’s caused when your insights platform is only focused on deliveries to the insights organization. To resolve this, his team is transforming ownership of the platform to the business, so commercial teams can freely access the information they need, whenever they need it. Flynt Tuller from MetLife described the disconnect as an age-old challenge for insights teams. Insights professionals, he said, are typically great at collecting information, but not always as NYC Roundtable 2019 Market Logic © 2019 CONFIDENTIAL | 9
The days of commissioning research and presenting the
results to business are over. All businesses desperately need
people in the boardroom who deeply understand competitors,
customers and markets, and can use this knowledge to
develop great strategy”.
Open discussion
good at transforming it into strategy. At MetLife, Marketing Sciences and Marketing Strategy
teams are joining forces to overcome this hurdle. Together, they actively “bake the insights
engine into networking and relationship building with the other teams.” Flynt’s team are
also delivering custom analysis pieces (desk research) as a value-add promotion for their
platform, where demand is especially strong in innovation and the regions. He also noted that
the content emphasis on competitive intelligence in their engine extends its appeal beyond
marketing into business lines and strategy.
Joaquin Garcia-Lopez from Janssen said that his global strategy organization does not really
suffer from an insights disconnect, because the insights professionals and marketers have a
one-on-one relationship in the global strategy teams – if they don’t think research will be used,
they won’t do it. He acknowledged that this ratio is unique and that the disconnect is more likely
to occur in the operating companies where the ratio between insights professionals and business
stakeholders is much lower.
Another area for the disconnect arises from the insights manager is empowered by the
skepticism about the value of research. platform, because it frees up time wasted
Joaquin recalled the frequent objection: “if chasing history to be a proactive champion
Ford had listened to market researchers, they of the consumer.
would have told him to make faster horses.”
However, as he pointed out, market research Others focused on the increasing role
is not about asking people what they want, of desk research and story telling –
it’s about synthesizing insights from all kinds transforming evidence from multiple
of research and sources to distill insights sources into messages marketers will
about how people behave and what their remember. Another audience member
barriers and needs are – as the starting point interjected saying “Market research is dying,
to propose new solutions. He also observed and insights professionals should welcome
that marketers are increasingly open to it. The days of commissioning research and
emerging techniques to understand consumer presenting the results to business are over”,
behaviours and interact with thought leaders, he declared. “All businesses desperately
such as IoT and social listening potentially at need people in the boardroom who deeply
the expense of traditional market research. understand competitors, customers and
markets, and can use this knowledge to
Controversially, one participant asked: “to develop great strategy”.
what extent does Market Logic technology,
and an insights platform, kill market All food for thought and an even livelier
research?” Some argued that the role of discussion over a networking lunch.
NYC Roundtable 2019 Market Logic © 2019 CONFIDENTIAL | 10About Market Logic Market Logic helps the world‘s best brands to run insights-driven businesses. We do this with insights portals to share and promote knowledge, intelligence portals to analyze markets and competitors, and market insights platforms to generate insights from data and inject these in business processes. Our software is used to drive customer centricity in CPG, healthcare, retail, finance & insurance, telecom, travel and media sectors, where our clients collaborate with 600+ research agencies online. We employ 300+ software developers, data scientists and marketing professionals at regional headquarters in Berlin, Chicago, Pune and Singapore. www.marketlogicsoftware.com info@marketlogicsoftware.com EUROPE NORTH AMERICA APAC INDIA Franklinstrasse 28 223 W. Jackson Blvd, Odeon Towers #02-01 Wing-B, Ground Floor 10587, Berlin, Suite 900, Chicago, 331 North Bridge Road Business @ Mantri Nagar Road, Germany IL 60606, USA 188720 Singapore Pune 411014 Maharashtra, India 2019 © Market Logic AG. The information contained in these documents is confidential, privileged and only for the information of the intended recipient and may not be used, published or redistributed without the prior written consent of Market Logic Software AG, Franklinstraße 28, 10587 Berlin, VAT Nr. DE 249354497
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