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 Software
2019 NYC
Insights Executive Roundtable
AI strategies to run an insights-driven business
March 29 2019

                               Market Logic © 2019 CONFIDENTIAL | 1
2019 NYC Insights Executive Roundtable - AI strategies to run an insights-driven business March 29 2019 - Market Logic Software
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
2019 NYC Insights Executive Roundtable - AI strategies to run an insights-driven business March 29 2019 - Market Logic Software
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
2019 NYC Insights Executive Roundtable - AI strategies to run an insights-driven business March 29 2019 - Market Logic Software
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.

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2019 NYC Insights Executive Roundtable - AI strategies to run an insights-driven business March 29 2019 - Market Logic Software
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
2019 NYC Insights Executive Roundtable - AI strategies to run an insights-driven business March 29 2019 - Market Logic Software
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
2019 NYC Insights Executive Roundtable - AI strategies to run an insights-driven business March 29 2019 - Market Logic Software
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.

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2019 NYC Insights Executive Roundtable - AI strategies to run an insights-driven business March 29 2019 - Market Logic Software
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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2019 NYC Insights Executive Roundtable - AI strategies to run an insights-driven business March 29 2019 - Market Logic Software
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

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2019 NYC Insights Executive Roundtable - AI strategies to run an insights-driven business March 29 2019 - Market Logic Software
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 | 10
About 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.

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