By Michele Levine & Gary Morgan
In a market where traditional market research companies are struggling and the stock market is devaluing information businesses, Roy Morgan Research has partnered with the Nine Entertainment Corporation’s (NEC) new venture called Tipstone. The Roy Morgan Helix PersonasTM partnership with NEC is just the beginning. Roy Morgan Research has a very different perspective to the market.
We believe the information space has emerged as a vibrant changing area of business with significant opportunities. Three key trends in this space are ‘Real-time news and information’ via internet and mobile, ‘Big Data’ and ‘Audience Profiling’. They are inextricably intertwined.
Each represents a threat to traditional media, information and research businesses and at the same time promises exciting new opportunities.
The latest news that information and technology businesses’ stock prices have fallen is a clear indicator that creating viable businesses and extracting value from the changing landscape is not as simple as it seems.
The rapidly expanding information space, encompasses information that drives every decision from the Reserve Bank’s position on interest rates, to Fund Managers’ investments, Credit decisions, Insurance decisions, Government Budget allocations, and decisions about marketing and media spend and much more.
Just as the world is not yet ready to throw away paper and have all newspapers read online (or mobile) or get rid of bank branches and insist all transactions are done online, the world of decision making in its broadest form cannot yet operate without structured reliable information. No consumer will ever become a mere ‘digit’ or ‘address’. They will always have attitudes and opinions, habits and preferences, that will need to be understood and profiled, periodically over time.
Today ‘Big Data’ provides extraordinary but unstructured detail about undefined and indeterminate ‘niche’ audiences. And today’s technology enables powerful analytics to be done ‘on-the-fly’. However even Google, one of the most extensive sources of data, is incomplete (Google touches most of us but not all, and it definitely doesn’t capture everything about us – no Big Data source does) and today cannot be projected to any unduplicated audience universe.
The key to unlock the value in these companies, and their data, is the key that allows users to make sense of the data – from all of the different sources, old and new, internal and external - and project it to known populations or audiences of interest and importance.
Helix PersonasTM powered by Roy Morgan Single Source is the key. It is a statistically created segmentation tool that acts as a connector between big data sets (or any data set) and the power of the structured data from Roy Morgan Research.
Helix PersonasTM has been called the ‘e-Harmony’ of Big Data, but it is so much more than that - it is the key! Helix PersonasTMcombined with Roy Morgan Single Source – a structured, projectable set of responses provides the framework for understanding and making sense of big data sources.
Because Roy Morgan Single Source and therefore Helix PersonasTM is continually updated, it is always relevant as the landscape changes. And make no mistake the landscape is still changing - consumers are now conducting more of their lives on mobile devices, new entrants are creating more “Big Data”.
The Roy Morgan Helix PersonasTM partnership with the Nine Entertainment Corporation is the first public embodiment of the power of Big Data and Helix PersonasTM as the framework.
Michele Levine says, CEO Roy Morgan says:
"Without a framework to make sense of Big Data, it is like a massive focus group – lots of juicy information but no idea how real the information is or how representative. That doesn’t matter if the aim (and the end game) is to get more users of Facebook or your social networking site or visitors to your site. But if the aim is to commercialise the data that is collected while the web activity is occurring, a framework will be crucial.
“With Helix PersonasTM, Big Data gains extraordinary value and companies with Big Data and the technology to drive it will be well placed to commercialise their data assets in this way.
“For over 70 years Roy Morgan Research has been analysing and projecting structured survey data to provide accurate information about such diverse consumer markets as media, finance, telecommunications, automotive, retail, FMCG, and health via Roy Morgan Single Source.
“Today with its structured data assets of Roy Morgan Single Source and Helix PersonasTM Roy Morgan Research is in a position to unlock the commercial potential of our clients and partners Big Data assets – in real time.
“This will turn ‘high-flying momentum stocks’ into ‘value driven opportunities’.”
Roy Morgan Research
Roy Morgan Research is Australia’s best known and longest established market research and public opinion survey company.
Roy Morgan Single Source is thorough, accurate, and provides comprehensive, directly applicable information about current and future customers. It is unique in that it directs all the questions to each individual from a base survey sample of around 55,000 interviews in Australia and 15,000 interviews in New Zealand annually - the largest Single Source databases in the world. The questions asked relate to lifestyle and attitudes, media consumption habits (including TV, radio, newspapers, magazines, cinema, catalogues, pay TV and the Internet), brand and product usage, purchase intentions, retail visitations, service provider preferences, financial information and recreation and leisure activities. This lead product is supported by a nationally networked, consultancy-orientated market research capability.