We write for Quirk's about reducing "data emissions"

Michael Howard, Head of Marketing at Infotools recently wrote for Quirk's Media about what he calls "data emissions" - or the byproducts generated when organizations use bad data or employ inefficient processes - and what their real-world implications can be.

He begins by further defining data emissions, likening them to the toxic byproducts of older technologies such as petrol and diesel. The consequences of data emissions are multifaceted, impacting areas such as the quality of insights, advertising effectiveness, brand positioning, supply and demand estimations, data privacy, reputation, and ultimately, profitability.

While data emissions may seem theoretical, they can have real-world consequences. Oversupply of products based on incorrect market demand estimates, data contamination, privacy breaches, and a damaged reputation are among the real-world consequences organizations may face, Michael writes. 

In the article, he draws a parallel to environmental issues caused by fossil fuels, emphasizing the need for sustainable practices in generating insights. He likens the older methods of manual analysis and traditional crosstab presentations to gas-guzzling cars of the past - reiterating that it is crucial for insights professionals to embrace modern tools and technologies for more efficient and sustainable practices.

Michael furthers the analogy, touching on how reusing existing data, with a fast turnaround and minimal overhead, allows organizations to stay agile and responsive to market trends and to reallocate resources to more value-add tasks. Infotools' Harmoni can facilitate many of these efficiencies! 

The article also covers how market research functions can take three approaches. Organizations can double down on traditional methods, innovate with a mix of traditional and new tools, or fully embrace the future of market research technology. Each approach carries its own set of risks, and the choice depends on the level of risk a particular organization is comfortable with.

By adopting modern tools, reusing data efficiently, and making informed choices about market research technology, organizations can navigate the evolving landscape with resilience and foresight. He concludes the article with: "Here’s to reducing our data emissions footprint and helping our stakeholders be more effective and sustainable in 2024 and beyond."

Read the complete article here: https://www.quirks.com/articles/how-to-make-2024-the-year-you-clean-up-your-organization-s-data-emissions