Giving the Cobbler’s Children Some Shoes

The saying goes that the cobbler’s children have no shoes. In some ways this is a rather fitting analogy for today’s Insights functions: Whilst they are experts in measurement, very few Insights functions currently measure their own impact on the business in a systematic, quantifiable manner. Whilst there are a number of rational and emotional reasons why this is the case, we have been able to find ways in which all the barriers to measuring the business impact of Insights can be overcome if an Insights leader really wants to do so. The methods and tools, which can be used to first measure, and secondly build business impact, are all readily available (a good place to start is the roiofinsights.com website).

Not All Insights are Equal

Not every investment in Insights delivers the same return on investment, that is to say the same value to the business. Only by putting in place a consistent measurement process are Insights leaders able to perform a transparent strategic review of their work and discern where their team is adding most (and least) value.

Building Business Impact

It is important that the measurement of Insights’ return on investment is not seen as the end goal, but rather as the key to building the business impact of Insights. This can be best thought of as virtuous circle, where the bi-product of building the business impact of Insights is an increased investment in the Insights function.  

Which types of changes lead to greater business impact?

The changes which need to be made to build business impact will vary from Insights team to Insights team and will be partly dependent upon the stage of maturity of the Insights function. In practice, we find that Insights team are able to make changes which both generate quick wins, as well as ones which lead to bigger longer-term gains. Put into broad buckets, here are some of the changes Insights teams can make to build their business impact: If you are interested in finding out more about how GRBN can help you grow your business impact, please get in touch.