A lot of companies are struggling at the art of being consumerists. While most companies remain pretty adept at going out and conducting research on their customer base, few of them are deriving meaningful business intelligence out of such exercises to forge some sort of competitive edge. Neuroscience is a field that is proving to be helpful in this regard. It requires a certain hypothesis to be developed before any study. This hypothesis must however not be so hardwired that the company cannot shake off the assumptions, even when they prove to be false. Consumers often do not really know what they want, as famously quipped by Henry Ford on the people wanting a better horse than a car. So directly asking the people does not always solve the issue. Instead innovative companies need to take decisions on the available data.

Source: http://innovationexcellence.com/blog/2017/11/05/the-art-of-strategic-observation/

Uploaded Date:16 November 2017