The co-founders, Tim Glowa and Garry Spinks, have almost 40 years of combined experience in the industry and have consulted for companies such as Nike, Wal-Mart, Credit Suisse and Equifax.

Bug Insights will specialise in insights for business to help optimise return on marketing investment. It will use a range of methodologies including focus groups or interviews, A/B testing, data mining and trade-off analysis. 

The company claimed its point of difference to rivals was that rather than just looking at preference data from a conjoint survey, Bug Insights will blend this with the cost of delivering products to customers and identify the most efficient product combinations that deliver both more value and more profit to the organisation.  

Glowa said: “We’ve seen that many organisations in the past leave money on the table by seeing misalignment between customer preferences and the cost to deliver services. We can help organise data to make better decisions and improve their marketing ROI.”