The latest edition of the Insights Spend & Trends Report has just been released. Brought to you by TMRE and All Things Insights, this benchmarking report showcases how insights leaders are changing mindsets, shifting priorities and spending allocations as they balance their insights efforts with the current economic environment.
The TRME and All Things Insights community completed a comprehensive survey covering what insights and market research executives are thinking, how they’re spending and the issues they face. Per the results, this is a senior-level, experienced, cross-industry group that signals a broad range of business-oriented preferences and strategic insights focused on the industry as a whole.
This year’s report reveals that the insights discipline is starting to showcase a shifting perspective. Coming through the pandemic, insights leaders went from a research and report methodology to an analytics and insights approach. Companies who have actively integrated analytics into their insights function are beginning to separate themselves from the competition, which is still playing catch-up.
When it comes to insights focus over the past four years leading up to the present, the top focus area is “unifying insights, data and analytics.” Transforming the insights function was the next top area of focus during the pandemic for nearly half of the community, whereas now it’s just over a quarter of the community. This seems to be an indication of where the leaders and laggards are split, and it showcases a possible optimization program and growth focus for those companies that have been seemingly behind in their efforts.
In addition to identifying the biggest strengths, weaknesses, and threats to their businesses, insights executives also looked back and ahead at their greatest opportunities and challenges as they set the stage for the second half of 2023 and beyond. This year, as insights teams aim to do more with less, while still having an impact and influence on the business, the Insights Spend & Trends Report can be an invaluable guide to support strategy, benchmark standards and set priorities for the coming year.
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