All of the different business decisions can be broken down into four types:
BUSINESS DECISION | RESEARCH OBJECTINVE +KPI |
Identify or Define A consumer need, an idea, a territory for improvement... | To identify this [your business decision], I need to learn the following______. Example: To define what my new product will be that will help me to grow my brand by 5%, I need to learn what are the key new trends within the category amongst my target audience and what their current behaviors are. |
Decide on Go/No-Go With a product, an ad, a feature... | To decide on Go/No-Go on [your idea, product, ad, feature], I need to evaluate this [your KPI]. If [your KPI] is higher/lower/parity vs [your benchmark, a norm etc.], I decide to [Go or No-Go] Example: To decide if to launch my new product or not, I need to evaluate its trial potential. If the trial potential will be lower or on par vs. my current product, I won’t go. If it will be higher vs my current product, I will go with further development. |
Select The best idea, name, pack, claim, advertising, etc. | To select which is the best, I need to measure this [your KPI]. If [your KPI] is higher/equal than [your benchmark, a norm, other options, etc], I select this option/the winning option. Example: To select which name is the best for my product, I need to measure its relevance to my target audience. I am going to select the name that gets the highest score by relevance amongst other options I test. |
Decide on if to continue To sell a product, air an ad, etc. | To decide on if to continue, I need to measure actual results. If [your KPI] is higher/equals/lower vs. [figure, metric, etc], I will continue. If not - I will stop. Example: To understand if I should continue airing the ad, I need to measure its impact on brand awareness. If brand awareness has grown 10%+ vs. zero wave, I will continue with the ad. |