Within the data and analytics community, especially among consumers of data and analytical output, the term “insights” is as ubiquitous as complaints about data quality and hype about AI. And yet, the actual definition of an insight is typically in the eye of the beholder. For some, it evokes the “eureka” moment when you discover something entirely new and unexpected. For others, it’s much more mundane — quantitative information that substantiates a widely held assumption or hypothesis. This confusion begs the question, “What exactly is an insight?”
Combine The Right Insight Elements
The truth is, there are many types of insights. Some insights help you quantify and measure; others can validate or disprove hypotheses; still others yield truly new discoveries; and others help you predict and even influence the future. And, of course, there are different analytical techniques that generate these different categories of insights.
Data and analytics leaders who focus solely on generating one type of insight limit the value they bring to the business. They also risk missing opportunities due to significant blind spots. Instead, they should focus on generating a wide range of insights that work together to compound the benefits to their organizations.
Introducing Forrester’s Periodic Table Of Insights
To help you catalyze impact with the right mix of insights, I plan to unveil Forrester’s brand new Periodic Table of Insights at Data Strategy and Insights 2020, a virtual Forrester event on October 13–15, 2020, dedicated to everyone in your organization who enables, generates, and uses insights. The theme of this year’s event is “Insight To Impact,” and Forrester’s Periodic Table of Insights will showcase how other organizations are combining different insight elements to maximize impact. Our program will feature more than 20 Forrester analysts and industry speakers presenting six keynote sessions and 18 breakout sessions across three tracks, plus a data storytelling workshop, industry-/role-focused content, an opportunity to network with 500 other data and analytics leaders, and sponsor case studies.
I hope to see you there!