A customer insight, or consumer insight (CI), is an interpretation of trends in

human behavior Human behavior is the potential and expressed capacity (Energy (psychological), mentally, Physical activity, physically, and Social action, socially) of human individuals or groups to respond to internal and external Stimulation, stimuli throu ...

s 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 provisioning the product or service. There is an overlap between

market research Market research is an organized effort to gather information about target markets and customers. It involves understanding who they are and what they need. It is an important component of business strategy and a major factor in maintaining com ...

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 Big data primarily refers to data sets that are too large or complex to be dealt with by traditional data processing, data-processing application software, software. Data with many entries (rows) offer greater statistical power, while data with ...

machine learning Machine learning (ML) is a field of study in artificial intelligence concerned with the development and study of Computational statistics, statistical algorithms that can learn from data and generalise to unseen data, and thus perform Task ( ...

, social media listening, geomarketing, and text analytics, as well as

, predictive analytics and database marketing. Specifically, consumer insights is a field that focuses on analyzing market research and acting as a bridge between

research Research is creative and systematic work undertaken to increase the stock of knowledge. It involves the collection, organization, and analysis of evidence to increase understanding of a topic, characterized by a particular attentiveness to ...

and

marketing Marketing is the act of acquiring, satisfying and retaining customers. It is one of the primary components of Business administration, business management and commerce. Marketing is usually conducted by the seller, typically a retailer or ma ...

departments within a company. Consumer insight is the intersection between the interests of the

consumer A consumer is a person or a group who intends to order, or use purchased goods, products, or services primarily for personal, social, family, household and similar needs, who is not directly related to entrepreneurial or business activities. ...

and the features of a

brand A brand is a name, term, design, symbol or any other feature that distinguishes one seller's goods or service from those of other sellers. Brands are used in business, marketing, and advertising for recognition and, importantly, to create and ...

. Its main purpose is to understand why the consumer cares for the brand as well as their underlying mindsets, moods, motivation, desires, aspirations, that motivates and trigger their attitude and actions. Insights can be defined through four components: * ''Non obvious''. There is a need to converge evidence to glean insights. * ''Actionable.'' Insights must relate to actions that firms can implement and act upon * ''Change consumer behaviour.'' An analysis of past behaviour and assuming people will be creatures of habit does not reveal any depth of understanding them, certainly not insight. * ''Mutual benefit.'' The insight must benefit the firm and the consumer.

References

{{reflist Customer experience