4i introduces the first “Mix Model” to be applied to organizations Insights & analytics functions. IMM connects Insight & analytics functional measures with the organizations’ financial performance, thus creating an optimization solution.
PRLog - Jun. 16, 2014 - DEERFIELD, Ill. -- 4i, a forward-looking growth and foresight analytics consultancy, recently introduced its "Insight Mix model" (IMM) approach to measuring and optimizing the ROI on insight investments. The disruptive analytics model overcomes many of the gaps typically found in insight and analytics to deliver hard metrics on the dollar contribution insight investments have on sales, and help drive return on insight investment (ROII).
More companies are realizing the need for insights and analytics, but most of that investment is not being used to its fullest extent, according to a recent webinar on IMM produced by 4i. As a result, insight analytics initiatives substantially underperform relative to their true potential.
IMM is the first "mixed model" for insight analytics. IMM is based on a three-step process, which includes research efficiency, research effectiveness and research quality. It focuses on helping clients identify future growth, while using hard metrics to continuously transform the insight analytics function to facilitate that growth in a meaningful way.
"Using IMM, we helped one client prioritize its research activity for one of its divisions, helping them create an optimized research plan that will deliver needed results, while fitting into their planned budget for the upcoming year," said Dr. Roytburg. "We determined that an optimized plan that spent only 50 percent of their 'wish list' would still deliver over 80 percent of the potential value identified from their research activities."
The goal-driven analytics that underlie the IMM approach take a step beyond the limited model that most people have been deploying. Up to 75 percent of insight analytics investments are currently being wasted, and 4i studies show that 62 percent of Insight Value Benchmarking study companies are not realizing full value from insights. The precision approach to optimization, quality research and planning drives more predictable results, with a higher probability of success.
"Through our work with the IMM process, we have been able to help one client spot serious inefficiencies in the system that had been dragging performance down," said Bruno Melone, Principal at 4i. "Using our model, we were able to identify these problems, which included increasing time to activation and increasing average spend per project. We identified opportunity areas for the client to focus on addressing these issues."
Using 4i's Insight Mix Model, companies are able to make their current analytics more efficient, while setting the stage for smarter, foresight-driven decision-making.
About 4i
4i's forward-looking growth and foresight analytics-driven approach helps clients uncover future growth opportunities, size future demand, develop successful growth strategies, and identify new innovations to succeed in tomorrow's marketplace. The company's growth and foresight analytics have been proven over time to deliver more predictable and sustainable results that help clients realize unparalleled growth opportunities. For more information on 4i, please visit http://www.4iconsult.com or contact Eugene Roytburg, Managing Partner at (630) 640 3496.
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4i's Insight Mix Model (IMM) delivers next-generation insight analytics and measurable results
June 16, 2014 at 10:29 AM EDT
