Integrating data faster and more cost-efficiently
In 2017, after nearly 30 years of experience in the market research industry, Juliet Strachan decided to go it alone and founded Windsoredge Research. Before long, the business was growing, attracting more clients and tackling an increasing range of client business problems.
“It's incredibly rewarding,” Juliet says. “Once you find the right insights, you can help solve their issues, provide direction, and guide their strategy ... when you and the client are aligned, you know you've cracked it.”
But as Windsoredge Research grew, Juliet faced two challenges.
The first challenge was being able to find the insights in the data quickly.
“The most important thing for analysts is being able to interrogate data, being able to ask questions of the data, and being nimble and flexible so you can move in different directions depending on what you find,” Juliet explains.
Juliet's team used traditional tools like R and Excel, making insight hunting a slow and rigid process. For example, she had to specify her analysis and tables and decide what data she wanted to see well before running the analysis. If she wanted to go in a different direction, she had to reset and rerun everything.
This meant often being left with a few interesting nuggets buried in a lot of uninteresting data. She needed to figure out a better way.
“There's always the danger that you can't see the forest for the trees because there's just too much there,” Juliet says.
Juliet's other challenge was more pressing: when insights required complex analysis like MaxDiff or conjoint, she would outsource the work to a specialized agency. This was eating up a significant percentage of client budgets.
In 2020, many companies had to tighten their spending. The budget for specialists wasn't there anymore.
“At the time, budgets were very, very tight,” she says.