I am always amazed that through science man has determined that the universe is between 14-15 billion years old and, even more astounding, is the calculation for the Universe’s expansion. So, why was it that, at the Perfect Information Conference in 2012, 30 leading information professionals with hundreds of years of experience between them could not come up with the answer to a simple question: What is the ROI (return on investment) from market research? Is this the information industry's holy grail? Maybe…..
Let’s consider this in another way. If there are too many variables to determine which piece of data or knowledge proved pivotal in the launch of a new product or successful investment, then consider this: Where was the value derived?
1. Time saved.
With all the ever expanding sources of data available, a major consideration is time. How much time does it take to locate the precise piece(s) of market research information that could prove pivotal to a successful investment or launch? Potentially many hours, but this can be drastically reduced by using MarketResearch.com's Profound solution. With over 200 international market research publishers available in a single database, you no longer have to trawl publishers' websites, ask for sample pages or call the publishers one by one to determine the context of certain chapters or sections. Profound does all of this and much more.
2. Work outsourced.
The sophisticated search and metadata technology incorporated in the Profound platform ensures precise results returned in seconds. If you don’t have the time or desire to do the initial search yourself, Profound works as an extension of your company. Outsource the search. Contact a research specialist, and they will engage and work with you to deliver the results you require. Need the latest market sizes, forecasts or volume of sales data? Their knowledge is extensive and can take you to data available from an internationally renowned publisher or a boutique industry specialist, which maybe you would not have previously had knowledge of and, thus, not even considered.
3. Perspective gained.
Profound's platform functionality is second to none. Once you, or the research specialist, find a report and view a detailed table of contents, there is still that uncertainty that it will precisely answer your question. Profound delivers value again. You can open up the report and actually look at the precise data table, graph or commentary you are considering before buying it. In these times when budgets are tight, you need to make sure every piece of data delivers value, and Profound ensures budget is never wasted.
Profound cannot expand you research budget at the same rate the universe is expanding, but it will allow you to stretch your budget further. By purchasing only a single graph or chart for a fraction of the cost of the full report, Profound provides you with cost effective data purchases, and, in my opinion, a great return on investment. Maybe Profound is the Holy Grail the information industry is looking for?
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