Why do brands need Market and Consumer Data Intelligence Services?
According to Thach – Data & Insight Team Lead at Vero Meets #5, brand consultation is like a health check, where clients call out their problems and express their needs to the consultant. The future of big data continues shifting and evolving, volume is growing exponentially, and quality is also being improved. More data doesn’t automatically mean more success though. What brands need to do is translate raw data into a meaningful story, which understands target consumers or audience.
This is exactly where Vero’s Data & Insights Team come in.
What is Data & Insight at Vero?
Our Data & Insights team launched last year as a response to our growing need for in-house data intelligence. We believe that a data-driven approach in terms of storytelling allows communicators to unearth truths within communities, and this information helps team Vero to better advise brands in all aspects of communications.
Thach refers to his process as “connecting the dots to find a bigger picture.” Using insights from data tools, our Data & Insights team can begin to outline pieces of our audience puzzle.
To find out more about the language of data and insights, we invited Thach to a Vero Session, where he explored the always interesting Forever Alone (FA) Community via a mini-case study. Thach showed us how social conversation tracking, search trends and demographics can reveal information about subcultures, helping us to understand target audiences better.
Turning data into action
Thach advises steering away from the urge to analyze mass data. He says: “Large pools of data can make it hard to understand the story that data tells. Data in general is overloading. The sheer amount of data that can be discovered is staggering. The most important thing now is to generate valuable data. “
Starting out with a research methodology, Thach showed us how we can use data insights tools to ask questions that can help us to understand our audience and respond to client briefs.
“After writing your initial hypothesis, you want to go on to define your WH questions. What is FA? Who are the people behind the FA community? When is the topic being discussed? How does the FA community feel about their definition?” says Thach. “This is where things start getting really interesting. As you learn about your audience, more questions arise that will help you to understand their story.”