MRS (Market Research Society) and Savanta have launched a practical framework for how businesses can build a clear competitive advantage through market and social research.
Intelligence Capital is the information, evidence and insight an organisation collectively accesses, circulates and acts upon.
MRS and Savanta concept
Initial work in 2018 brought the concept of Intelligence Capital to life by demonstrating its value; how progress can be powered by through the effective development and activation of an evidence-based approach.
The new practitioner’s guide builds on those foundations and provides a step-by-step framework for how Intelligence Capital can be fostered and developed within an organisation and leveraged to build tangible competitive advantage, while also providing robust and vital evidence to support decision making.
The document includes actual, recent examples from across the market and social research sector; and a number of tools to help along the way.
At a launch event on Thursday for the guide, Jane Frost CBE, CEO of MRS, and Oliver Worsfold, Associate Director of Savanta, were joined by Georgina White, Insight Director at BT and Harry Davies, Head of Measurement and Analytics at Google.
Together they discussed the benefits that an Intelligence Capital approach will deliver for businesses in times of uncertainty and market fragmentation.
The webinar will be available after the event for those that could not attend, and the report can be downloaded for free here.
Intelligence Capital 2020: a practitioner’s guide was developed by Savanta through an extensive series of expert interviews with leading brands.
They include Formula 1, Barclays, Google and BT; and a quantitative survey of senior client-side members of MRS and Associations of Users of Research Agencies (AURA).
“We are living through uncertain times, characterised by restricted opportunities and turbulent markets; it is more critical than ever that businesses maximise their existing assets and differentiate themselves competitively”, MRS’s Frost said.
“As we emerge into the new COVID-19 changed world, Intelligence Capital is the single most powerful tool at their disposal.
“This framework combines practical help with brilliant examples of best practice from across our sector; to help organisations implement its core principles and arm themselves for future success.”
Oliver Worsfold, Associate Director at Savanta, said: “Intelligence Capital has been developed through an extensive process; including a series of interviews with senior client-side insight professionals in leading brands.
“Fuelled by a more holistic approach to data, insight and analytics, the Intelligence Capital concept aims to empower decision-makers to have a deeper relationship with evidence sources within their organisation; which in turn will deliver positive ramifications for the wider business and its customers.”