Market Research as a Capability and Not a Function for Data-Driven Decision Making with Christopher Frank

Data informs… but human judgment decides.  On this episode of Ponderings from the Perch, the Little Bird Marketing podcast, host and CEO, Priscilla McKinney, and guest and CCO of PSB Insights, Christopher Frank, talk strategy in business and market research. Frank, who brings 25 years of frontline experience from American Express and Microsoft, discusses his recent move to PSB Insights, a 40-year-old research-based consultancy with offices in DC, Seattle, and London, transitioning from the client side to a consultancy role in the field of market research. He stresses the importance of framing problems correctly before diving into data analysis, which is crucial for gathering meaningful insights from both audiences and competitors; a key framework for which he calls IWIC (I Wish I Knew), which aims to shift discussions from data-driven to strategic by asking stakeholders what information they truly need to make confident decisions. The two discuss Frank's two books on the subject, Drinking From the Fire Hose, and Decisions Over Decimals; the latter of which, highlighting its relevance in today's data-driven decision-making landscape, has been featured in Malcolm Gladwell and Dan Pink's Next Big Idea Club. His books emphasize the importance of balancing intuition and information in both the market research and strategy processes. "If you are concerned that your role is going to be commoditized because of these new technologies,” Frank explains. “What [AI] is not delivering yet is [your own] judgment." McKinney and Frank also discuss his role as co-director of Columbia Business School's Leading in a Data-Driven World program. This initiative focuses on developing quantitative intuition, teaching professionals how to make smarter, more informed decisions without necessarily needing advanced mathematical skills.  That and much, much more! Sponsors: Get ready for another amazing Insights Marketing Day! It’s everything you need to take control of your marketing funnel in one power-packed day. You’ll hear from fun, engaging and instructive speakers who are proven authorities in digital marketing. They’ll leave their egos behind and pull the curtain back to show you what it takes behind the scenes to achieve dramatic marketing results. This year, we’ll take you on a journey from the very beginning of the marketing funnel through realizing revenue and how to create a more predictive model for success. You’ll be challenged to change your mindset, learn emerging skills and discover game-changing tools. All this while creating genuine connections with like-minded professionals. Learn, network, discover and strategize. Make Insights Marketing Day a MUST on your 2024 calendar. Visit littlebirdmarketing.com/insights-marketing-day and get your tickets today! Get your research done anywhere around the world quickly and efficiently with Gazelle Global!  Are you looking for experts and tools to collect research data worldwide? Global sampling, field management, data collection? These are just some of the services that Gazelle Global provides with much, much more!  Visit gazelleglobal.com to learn more about how our expertise can help you unearth quality data that drives meaningful insights.