Have you heard the rumour going about the research world? It says analysts that compile reports have had their day, that they’re on their way out. What use is a report analyst when we all have access to so much data and such good data scientists?
Well sleep easy report analysts, it’s not true.
In fact, it’s lazy thinking to assume that the future is all about data and that analysts will become outmoded. In a world where so much data is available the requirement for non-partisan interpretation by market experts to cut through the noise is going to be more important than ever before.
Maximise research ROI
It would be foolish to suggest the role of the analysts isn’t changing. Of course, technology is shifting its purpose, as it is for many other careers.
In truth, the analyst’s role is becoming increasingly vital but – and it’s an important ‘but’ – that will only be the case if the research and analysis firms in which they work implement technology that empowers them to become a targeted, focused resource.
According to our own modelling, 60% of an analyst’s time is spent creating and maintaining content that is rarely used – but if your research and analysis firm doesn’t use smart publishing technology how would you know this about your own portfolio?
By feeding back this kind of critical information, analysts can spend less time updating slow-moving topics. As a valuable business resource, their time can be reallocated onto the hot topics in which the customers are really interested.
In a previous blog we outlined how technology enables analysts to do away with manual reformatting. Analysts will be able to add new insights, changing data, updating charts and tables, and create new visual exhibits in seconds, rather than hours or days.
Quicker formatting and automated updates, saves time – and this allows the analyst to focus on the quality of the content they produce.
So where should they focus?
Our research tells us 80% of the Customer Experience typically come from 20% of a publisher’s content library. This suggests those ‘hot topics’ aren’t currently receiving enough analyst time.
By implementing a smart technology, a research business can be fed with this kind of information – It can know which of its product lines are in most demand and reallocate analysts accordingly.
This isn’t about narrowing the focus of a research business’s work; the same breadth of coverage can still be maintained, it’s just that a more proportionate allocation of an analyst’s time can now be allotted across a full portfolio.
Technology is the enabler here: it allows research firms to work better, smarter, in a more efficient and focused way, and allows them to be more responsive to the needs of their end-users.