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Gaining Insight Into Whether Insight Is Needed!

Manufacturers know only too well that it’s possible to over-engineer something, when actually they just want to produce finished goods that are fit for purpose.
 
A similar principle can be applied to insight: don’t assume that your company needs everything when a little will do. Some companies have research or analysis functions that tend to deliver information rather than insight. Others go too far the other way, and waste resource when insight isn’t really needed. The morale is: don’t try and deliver a Rolls Royce when a pick-up truck is needed!
 
So how can you find out whether insight is needed – and if so, to what degree? It really depends upon a blend of common sense and a clear understanding of your internal clients’ actual needs. A good starting point is the classic triangle of cost, time and quality. If you can identify which elements are most important on each occasion you can then give more well-informed advice on methods, budgets, suppliers and levels of insight.
 
Levels of insight
For instance, some customers may just need some data so that they can plan more effectively. If so, there is little point in wasting both time and resources in producing more than this. A major retailer has developed a very useful table for defining the levels of insight needed by different customers. Here’s a summary:
 
Level 1: Tables that summarise raw data clearly
Level 2: Graphs and short table showing key trends and messages from the data
Level 3: A short summary of key insights arising from the work
Level 4: Key insights that are put into the context of the market, future trends, other work, etc.
Level 5: Clearly stated implications of the insights
Level 6: Recommendations of what the business sponsor should do as a result of the implications
 
In the case of ad hoc projects, it’s best to reach an agreement beforehand with the initiator about what they want, and what they aim to do with it.
 
Clearer reports for clearer insight
The danger of over-engineering can also apply to reports of tracking studies and analyses. Long reams of dialogue can be tedious to write – and more importantly, tedious to read. So why not try:
  • Using clear indicators or symbols that show whether key figures have risen, fallen or stayed the same
  • Asking your  internal clients to identify any key numbers that they need to quote or put on a score card
  • Freeing up resources to focus on a different topic for each period – and carrying out fresh analyses so that you can write something interesting, meaningful and useful?
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