A customer insight, or consumer insight, is an interpretation of trends in human behaviours which aims to increase the effectiveness of a product or service for the consumer, as well as increase sales for the financial benefit of those providing the product or service.
Customer insights vs Market research
There is an overlap between market research and customer insights. While market researchers can produce consumer insights, not all insights require market research techniques. The insights can be acquired using competitive intelligence, big data, machine learning, social media listening, geo-marketing, and text analytics, as well as market research, predictive analytics and database marketing.
Specifically, consumer insights is a field that focuses on analysing market research and acting as a bridge between Research and Marketing departments within a company. Commonly referred to as CI, it is the intersection between the interests of the consumer and the features of a brand. Its main purpose is to understand why the consumer cares for the brand as well as their underlying mindsets, moods, motivation, desires, and aspirations, that motivate and trigger their attitude and actions.
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