Here are is the second of seven things we help companies do so they fully exploit the value locked in this rich resource. Some are simple, others require effort; all are worth striving toward.
2. Regularly review past research
Staff and suppliers move on and take their knowledge with them. New challenges come to the fore as well as new insights which may challenge or compliment earlier findings.
For these reasons and more it’s worth returning to your body of research regularly. At CJC we try to begin every new Client engagement with a review of existing research. It allows us to resurface forgotten lessons, reveal valuable work commissioned by other departments and to avoid the expense of reinventing the wheel.
But more than that; given a new challenge and a fresh pair of eyes looking across the wealth of market research and management reports we can draw important new conclusions and help build a shared understanding of an issue or opportunity.
In this way a small investment can create significant new value from discarded information that often cost huge amounts of time and money in the first instance to generate.