The Analyst of 2020

The tools, data and skills gaps we must bridge

As part of our survey of professionals in our network, we were keen to see how well consumer insights were feeding into business strategy.

We asked our respondents about what was getting in the way of getting to know their customer better, and what tools they thought would be most important for generating these insights in 2020.

More than 50% cited a lack of access to the right data as a blocker, while over a third said that there was a lack of understanding on helpful research in this area.

When we asked them what tools would be needed to best support the generation and distribution of consumer insights, we found that social, search, and survey analysis tools were popular (with 50% or more of the respondents selecting these). Data visualization, which can help spread insights across an organization, was also key.

We found that many of our respondents were conscious of a skills gap that would need to be bridged in 2020. “My team will need to get up to speed regarding AI, machine learning, and strengthen their data mining skills in order to provide better, more accurate insights into customers,” says Angela Hill, who’s CEO at branding and marketing agency Incitrio.

Sedale McCall, Director, Analytics at The Glover Park Group echoed this need for the continued development of data analytics skills: “I think the trend towards taking in mass amounts of data and making it meaningful will never go away. Data science is a path toward being effective in our industry.”

Meanwhile, Dentsu’s Tallita Alves calls for the combination of the right data, skills, and tools to enrich consumer insights.

Regardless of organization size or industry, bridging the data, technology, and skills gaps that are preventing analysts from better understanding the consumer should be a priority in 2020.

Creating a meangingful impact with insights

Facilitating the generation of insights, as outlined above, is only valuable if those insights can be acted upon within the organization.

The challenge here is both personal and technological. Analysts must have the confidence to share these insights company-wide and to elevate their impact. They must also have the platforms, both metaphorically and through the right tech, to do so.

Without the right set up and skills, insights can become trapped. That’s not conducive practice for businesses looking to innovate and win in 2020.

Bayer’s Andy Schaul speaks to one part of this when he talks about what’s challenging him in 2020. Without the right organizational set up to react to insights, the impact of analysts’ work can be stunted.

Chief Consultant at Social Dividend Global Elliot Polak agrees, saying: “No matter how spot on, “insights” that don’t lead to action aren’t insights. It’s a waste of time and money to listen to data, analyze patterns and make recommendations, if the internal organization can’t put in practice.”

Mike Stevens thinks there’s a lot of work to be done both in terms of organizational processes and training to get the most out of our analysts and the best possible insights.

The attributes the best analysts have in common

The analysts that will help organizations succeed in 2020 will need to be more than just technically skilled individuals.

Drawing on conversations and survey responses with industry professionals, there are two key attributes that the best kinds of analysts have – curiosity and hunger to drive change.

Curiosity

One of the most important attributes Brandwatch looks for in analysts is curiosity, and it’s that willingness to dive deeper, to follow rabbit holes, and to find unexpected results that helps our Strategy and Insights team deliver so much value.

Katie Greenlaw, Director of Public Relations at Rinck Advertising, agrees that curiosity is key to generating great insights. She told us: “In order to generate or work with the best consumer insights in 2020, the skills you need are strategic analysis, open-mindedness, critical thinking…it’s important to think like a detective and see where the “clues” (insights) lead you and ask questions about them. What are the insights saying? Why do you think that is? Can you counter that insight? Can you look at the data a different way? These are all helpful in gaining the strongest insights.”

A hunger to drive change

Calling back to what we said above in the ‘Insights to action’ section, the best analysts are those that know the value of their insights and are able to communicate that value company wide.

Both curiosity and the passion to drive change are excellent attributes to look for in an analyst (regardless of what kind of analysis they’re going to be doing). We’re often asked about hiring the best analysts for social data, so here’s a quick cheat sheet if that’s something you’re interested in: