We live in a world where consumer data are growing rapidly. Nearly every behavior on the internet is tracked, wireless devices constantly share our location and activities, and smart appliances disseminate troves of data into the ether. And, by some accounts, global data are expected to double every two years for at least a decade.
While this is not a new phenomenon, the impact is still hard to understand. Thanks to this explosion of data, many energy utilities have access to exponentially more customer information than just a few years ago, and this information is often used ineffectively, and in some cases, not used at all. From detailed demographic and profiling data, program participation histories, and rich behavioral data, the opportunities for market research insights are immense.
It’s no wonder that many utilities are looking to leverage these data to build custom online panels and Market Research Online Communities (MROCs) to support their research needs. Both offer a means of gaining quick and valuable insights without having to negotiate some of the more challenging aspects of market research, namely, sample preparation and respondent recruitment. Continue reading