Ravi Dhar, Yale School of Management: A Shift Towards Forward-Looking Insights
For decades, market research was considered an “auditing function” — a department inside the business that looks backwards at an ad campaign or a product, and identifies all the reasons why it performed either well or poorly. But as organic growth became more important to a company’s success, market research transformed into a forward-looking insights function. “You can’t have organic growth unless you understand your customers,” says Ravi Dhar, professor at Yale School of Management and Director of Yale’s Center for Customer Insights. He joins the podcast to talk about the evolution and role of insights and how to fix the tension that exists between insights departments and the C-suite.
Listen to this episode to learn:
- The four stages of insights, based on Ravi’s research with Boston Consulting Group
- Why insights leaders should be in the room when strategic decisions are being made
- Changes in consumer behavior during the pandemic, and which new behaviors might persist
- The effects that two concepts — “out of sight, out of mind” and “absence makes the heart grow fonder” — could have on consumer demand after the pandemic subsides
- The inherent risk in looking to “consumers as scientists”
- Why insights require a collaboration of analytics, anthropology, and psychology
- The skills you need to become a successful insights professional now and in the future
For more information: som.yale.edu/faculty/ravi-dhar
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