MRS Delphi Group launches Insight Alchemist report

The report, entitled The rise of the insight alchemist, looks in detail at how the data explosion has created a new breed of insights professional and advises companies and institutions of the need to be flexible and adapt rapidly to change in an environment that is in a state of constant flux.

Drawing on interviews with leading practitioners alongside the academic literature, the report lays out a manifesto for the industry. This covers best practice for ways to manage the torrent of data that is now available in order to create knowledge that will best address the social, environmental and commercial challenges faced.

The study identifies 10 important steps: develop a strategy for data collection and aggregation; accept that all data is imperfect; understand the limitations of the data; recognise that insights about humans need humans to deliver them; adopt a test-and-learn attitude; act as an advocate for different sources of data; be data agnostic; see the work as a journey; build a one-team vision; and demonstrate leadership and strength of character.

“This report marks a shift in the research and insights sector to a wholesale embracing of all forms of data, regardless of source or methodology”, commented MRS chief executive Jane Frost. “The infrastructure is in place, the pipes are connected and the skills and mindset is embedded across the business. As this report details through interviews and practical examples, the result is a reinvention of the role of the insights professional and the delivery of transformational customer insight in a way previously unimaginable.”

Colin Strong, lead author of the report, head of behavioural science at Ipsos and chair of the MRS Delphi Group, noted: “Given the world is more uncertain and unpredictable than ever, the knowledge we need to drive strategy and policy is in flux. It therefore takes a very agile research industry to navigate this environment.

“We were struck by the way that smart leaders in our industry are open to the insights from different data sources, mixing them in a way that makes best use of the unique insights they have to offer. No longer are we arguing data versus self-report, rather instead combining them to deliver the gold quality insights needed for this difficult terrain.”

The Delphi Group is led by a coalition of respected thinkers from the marketing and research sectors. The group delivers valuable insight across a range of important business, social and political issues.

You can download the report ‘The Rise of the Insight Alchemist’ for free here.