I received a query mid August '07 and thought to share the exchange here. The queries are in normal text and my responses are in italics.Enjoy.
I am interested in the new trend for companies to create data pools that they are allowing their customers to interrogate directly using software tools. I am interested in knowing what this means to the market itself.
Q: Does it mean, rather than selling data, the new market research companies will sell access to data?
A: NextStage has been using a variation of this model since we started as a company. Our clients have access to analysis of their own data, access to analysis of data pooled from their vertical and analysis of data pooled from a general population. Limited elements of these last two are already available to the public on our website (InFocus Reports, NextStage Gauge, Personae Mapping Tool and Predictive Echo).
Clients have access to several more reports and analysis.
Q: Does this mean the size of the companies using the data will decrease as SMEs find they can take advantage of a market that was traditionally the preserve of the large multi-national?
A: I don't think so. We have clients in several verticals, several niches, and range in size from 1-2 person shops to F500s.
Q: Will the quality needed for this also drive up the value and accuracy of data in the market?
A: I hope so. Right now (and this is my opinion) there's a glut of "same-old-same-old" as far as analytics data goes. Traditional analytics methods, reports, etc., tend to follow the leader. More and more SMEs (we're finding) are looking for competitive advantage via different analytics/analytics that reveal something other than "time-on-page", "time-on-site", "clickthroughs" and so on. This is especially true in the Web 2.0 world (Defining Attention on Websites & Blogs is an example of a new type of metric that's gaining attention).
Q: And if this process is occurring, where will it leave the traditional big players in market analysis?
A: They will start looking at the more innovative players for new analytics tools, as always.
Q: Gartner, IDC, Forrester and here in the UK, Ovum and Informa, are big players to the corporate market who are the companies who are catering to the emerging SME market? Also, someone I was just interviewing was telling me that software tools don't give you competitive advantage as everyone else can get hold of the same tools and access to the same data, so where is the competitive advantage is it just an arms race?
A: Not sure I agree with this. I think it depends on what, exactly, is being analyzed and reported on. Let me give you an example; the type of data NextStage collects is incredibly site specific. Suggestions we make to client A would be useless to client B except at the level demonstrated in our publicly available reports.
However, the suggestions we make to clients generate such competitive advantage that most clients have us a) under confidentiality agreements and b) as elements in their strategic business plans.
Please contact NextStage for information regarding presentations and trainings on this and other topics.
Upcoming Conferences:
- IMedia Brand Summit on 9-12 Sept 07
- XChange on 20-21 Sept 07
- DC Emetrics Summit on 14-17 Oct '07
- Society for New Communications Research Annual Research Symposium & Awards Gala on 5-6 Dec 07 in Boston.
Comment Preview