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We are honored to be part of the special video podcast series for IEX, which is part of the Data Gurus platform. We are focusing on something a little different today, related to trends in the market research or analytics space.
We have Anthony Franklin, the CEO of Infotools, joining us from New Zealand to talk about data visualization, data processing, and his experience.
Ant’s story
Ant has a degree in social science. He married a New Zealander in London, thirty-two years ago, and they decided to settle in Auckland. Unfortunately, his wife passed away a few years ago.
An introduction to market research
Ant had previously worked in sales and marketing in the UK, so he was able to use that experience in his role at a company called AGB McNair, the largest research company at the time in New Zealand. He did a lot of syndicated work, ad hoc work, and media there. Working for AGB McNair in the syndicated area was interesting, and it was Ant’s introduction to the world of market research.
A revolutionary platform
Infotools was founded to transform the manual process of data collection into something completely different. It can capture data and interrogate it easily. The platform was revolutionary because nothing like it had ever existed before, and the market was open and ready for it.
The early days
Infotools used to do a lot of work with some of the big multinationals in the early days. BAT was an early supporter of Infotools, and they ended up working with BAT worldwide because BAT wanted to empower their researchers. In those days, Infotools did a lot of work to utilize the power of the computer to sift and find information through the data.
Changing the perception
Infotools was trying to harness the power of the computer to change the perception about cross tabs and give the individual the ability to use the computer and the desktop platform to find the necessary information in the data automatically.
Infotools’s programs
Infotools’ programs have always been designed specifically by market researchers for market researchers. So, although the developers are cutting the code, they still need a market researcher to explain the end that the result is trying to achieve.
Moving into the cloud
Six years ago, Infotools made a conscious decision to move into the cloud and to build a platform that allows their knowledge to be accessible in that way. They decided to do that because market research data is very complex, and it does not easily fit into the normal IT world.
The power of machine learning
Using the power of machine learning is a very efficient way to do data updates.
Clients
When Ant works with a corporate client or an enterprise brand, huge numbers of people have access to the data he has collected.
Value
All the value and the treasure is in the collected data, and Infotools’s software allows organizations to keep their data alive and fresh and get a return on their investment in the research.
The right fit
The clients who get what the data is revealing are the right fit for Infotools.
Changes for the future in the market research space
Business intelligence tools have moved into the market research space, and they are primarily driven by IT budgets, which are substantial when compared with the relatively modest budgets allocated for market research. So there is a promise of delivery. Aggregated data, however, does not hit the mark for market research.
Data lakes
The tools required for getting information in and out of data lakes have not quite worked as yet, for market research.
Tools
As a company, Infotools used Waterfall tools for many years. To a great extent, Waterfall is reflective of market research projects in that all the work and the planning gets done upfront, and the data is available at the end of it. With interactive tools like the Harmoni Platform, however, they can get into the data much earlier on, and they can be more agile in helping organizations to get started more efficiently than ever before.
Old software and tools
Much of the market research industry is still working with software that is twenty or thirty years old, and the rooms full of tables persist today. The digital revolution has arrived, however, and things are slowly changing.
Company culture
The people, company culture, and values are the key to Infotools.
Links:
Infotools website
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Sima is passionate about data and loves to share, learn, and help others that share that passion. If you love data as much as she does, subscribe on iTunes, and don’t forget to leave a rating and review!
