Data can be beautiful. Data, when analysed and visualised appropriately enables stakeholders to instantly grasp concepts, insights and inform quicker and more informed decision making.
Data mapping and visualisation is what converts statistics to strategy. The story is uncovered through applying advanced analytics. Advanced analytics and data visualisation transforms complex survey data into clear, actionable insights, allowing you to make strategic decisions with confidence.
Perceptual maps: Meeting Complexity with Clarity
Perceptual maps provide a quick and clear understanding of how your brand is perceived. By applying Principal Components Analysis (PCA) to survey data, we create two-dimensional maps that highlight key attributes associated with each brand. This helps you see:
- How customers segment based on attitudes and opinions
- The relationship between brands and their distinctiveness
- Which attributes drive brand differentiation
Preference Maps: Understanding Customer Attitudes
Preference maps delve into customer attitudes and opinions. Like perceptual maps, they reduce complex data into a smaller number of dimensions, showing each respondent as a point on the map. This visual representation helps identify:
- Underlying customer segments
- Differences between predefined customer groups
- Key attitudes that separate your customers
MDS Maps: Going Deeper and Uncovering Element Relationships**
Multidimensional Scaling (MDS) maps visualise the similarities and differences among various elements, from brand attributes to communication channels. By transforming responses from ‘select all that apply’ survey questions, MDS maps reveal:
- How elements are interrelated in the minds of your customers
- Which points are viewed as distinct or opposite
- The importance of elements as well as their similarities and differences
Stated vs. Derived Importance Maps: Mapping True Drivers of Customer Choice
To understand what truly drives customer choice, we analyse both stated importance and derived importance. This involves plotting stated importance against derived importance, uncovering:
- Key and underlying drivers to leverage or optimise
- Attributes to deprioritize as least important
- Expected attributes that are a cost of entry
By leveraging advanced analytics and data visualisation techniques, you can uncover profound insights that drive strategic decisions. These tools enable you to:
- Clearly visualise and optimise brand performance
- Understand customer attitudes and preferences in depth
- Identify and act on key drivers of customer behaviour
- Make informed decisions that enhance your brand’s market position
In our pharmaceutical industry, where precision and clarity are essential, advanced analytics and data visualisation offer a pathway to true market understanding. Embrace these tools to navigate the complexities of the market with confidence and foresight.