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H2 2023 Insights Spend & Trends Report

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"H2 2023 Insights Spend & Trends Report"

The latest edition of the Insights Spend & Trends Report has just been released--and artificial intelligence (AI) is clearly on the minds of the industry. Brought to you by All Things Insights, this benchmarking report showcases how insights leaders are changing mindsets, shifting priorities and spending allocations in the second half of 2023 as they balance their insights efforts with the latest technological developments.

The All Things Insights community completed a comprehensive survey covering what insights and market research executives are thinking, how they’re spending and the issues they face. Per the results, this is a senior-level, experienced, cross-industry group that signals a broad range of business-oriented preferences and strategic insights focused on the industry.

The H2 2023 report reveals that the insights discipline is starting to spotlight a shifting perspective, especially when it comes to new technology. 

Generative artificial intelligence (AI) has risen quickly in the marketplace and has impacted both the client and vendor side of the business. 

When asked, “In order for insights to gain/keep a seat at the strategic table, what should your company/insights function start doing?” 35% of survey respondents said bringing AI into the function is one of their top priorities. 

In terms of the biggest opportunities in the insights function, 61% of those surveyed said “understanding the role of AI in insights.” Clearly, we are at the early stages of adoption, or at least initial experimentation, with this new technology. The ramifications for the future of the discipline are yet to be determined, but the insights industry seems positive and optimistic that market research roles will improve, thanks to AI’s benefits.

In addition to identifying the biggest strengths, weaknesses, and threats to their businesses, executives in the field also looked back and ahead at their greatest opportunities and challenges as they set the stage for 2024 and beyond. In the second half of 2023, insights teams aim to improve their operations, potentially with AI tools and technology, while still maintaining an impact and influence on the business. The Insights Spend & Trends Report can be an invaluable guide to support strategy, benchmark standards and set priorities for the coming year.

CONTRIBUTORS

Jennifer Avery, Senior Vice President, Strategy and Insights, NBC Universal Parks & Resorts

Justin Coates, Head of Global Market Research & Consumer Insights, Eastman

Jordan Cusner, Head of Guest Insights, Popeyes Louisiana Kitchen

Charitie Dantis-Gayo, Corporate Vice President, Center for Consumer Insights, New York Life Insurance Company

Tom Gould, Senior Director, Constellation Brands

Shilpa Khanna, Associate Director Transformational Growth Insights, The Clorox Company

Karen Kraft, Associate Director, Consumer Insights & Analytics, Johnsonville

Cherie Leonard, Senior Director of NA Insights, Colgate-Palmolive

Cory Lommel, Director of Consumer Insights, Cargill

Jill Marchick, Vice President, Consumer Insights & Business Analytics at Applebee’s Neighborhood Grill

Michael Nevski, Director, Global Insights, Visa

Keith Phillips, Director, Research Science, Dynata

Christina Speck, Board Advisor, NFANT Labs

Kathryn Topp, CEO, Yabble


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