At SKIM we realize it is increasingly more important to ensure market research is more actionable and targeted to your business needs. Data fusion can help by pinpointing research insights, validating insights across different methods or by calibrating research results to market reality. Data fusion is the merging of two (or more) data sets from different sources; usually survey data with external data such as CRM, sales or scanner data.

Augmented market reality

When you consider launching a new product or changing prices, you will typically want to know "what will happen to my market share?" or "how will my margins change?". What happens can be hard to tell based on existing market data, so you conduct custom market research to replicate the future market situation and answer those "what if" questions. However, custom market research may show limited resemblance to the actual market. To accurately answer those business questions, we fuse survey information with both current and historical market information to project results to market reality.

Assessing the impact of a promotion

Imagine that you are planning your sales promotions. Virtual shopping research provides an excellent tool to assess the impact of promotions on consumer behavior. However, virtual shopping research may not fully capture the full behavioral impact of promotions such as stockpiling, consumption and purchase acceleration. Analyzing historical market trends can capture these effects. Fusing survey data with historical data then provides a more insightful picture to assist in promotion activity planning.

Pinpoint research insights

Customer databases are becoming increasingly popular and data-rich. Data fusion allows you to harness the power of such detailed databases, either by merging them with survey results or by appending the survey data to them to even better understand your customer base hence improve your reach.

Targeting new service offerings

Imagine you have just concluded a piece of product optimization research which helped you identify the best product/service offering to reach different customer segments. Merging the survey insights with customer information based on geographic and demographic identifiers would allow you to accurately target your communication activities - first by tailoring your messages to segment needs and second, by addressing segment profiles to optimize your reach.

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