It’s that time of year again: when pundits are asked to prognosticate what is coming in the next year. 2020 was impossible to predict and foresee for the world as well as the insights and analytics industry. In last year’s blog, my only prediction was that 2021 would be much better than 2020. So, what is my prediction for 2022? Much more bullish, and predict that 2022 will not only be better than 2021, but it will be the BEST year yet for the industry as a whole.
There is no doubt the world continues to grapple with plenty of COVID-era challenges, but here are 3 reasons why, across the insights and analytics industry, we should have renewed optimistic energy going into 2022:
1. Technology will continue to act as a disruptive driver of improvement.
Technology, especially AI, has revolutionized how we in the insights and analytics industry collect and analyze data. We are better, faster, and more cost-effective than ever. Clients now do not need to, and won’t, compromise when it comes to choosing solutions that help them drive growth for their brands and businesses.
Sure, it can feel challenging to live in a state of continual improvement, but the benefit is that the insights and analytics industry can and will fulfill its potential. It feels to me that we’re finally iterating, improving, and changing within the industry at a rate similar to that seen in other sectors for years, it’s been too long a time coming!
2. Growth in digital commerce opens new frontiers.
Digital commerce adoption among consumers, accelerated by the pandemic, has led to the creation of new business models among manufacturers, to which the insights and analytics industry is now responding.
At Behaviorally, we’re committed to investing in solutions that help our clients maximize their advantage at the digital shelf, in a manner compatible with the speed and scale dynamics of digital commerce. We know that if we and other insights and analytics providers fail to replicate these dynamics and get on the pace of business, we’ll be left behind.
We’re confident of success and have already seen defining drivers of digital shopper behavior become the fastest-growing part of our business, we expect it to represent half of our work in the years ahead.
3. Our human talents remain the key to success.
Human talent is in demand and the labor market is hot. Amid a world awash with analytic and data options, humans who can weave a story about why other humans are behaving the way they do and can connect the ramifications of those behaviors to commercial or societal growth outcomes will be an ever-precious resource. This is true accross all corners of the industry, so for the overabundance of talented people who have a natural passion for human behavior and storytelling, a great 2022 surely lies ahead!
At Behaviorally, our digital-first strategy has been built to exploit the disruptive growth technology promises, we’re doubling down on our investments to become the market leader in the digital shopper world, and most importantly, I’m personally humbled to lead one of the most talented teams in the industry.
So with 2022 fast approaching, having weathered the COVID-related challenges of the past 2 years, confident it will be a fantastically rewarding, new year ahead. The BEST year yet, for all of us in the industry. Happy Holidays!
Alex Hunt is a recognized pioneer in the practical application of behavioral science to shopper marketing in order to help clients develop consumer experiences that drive business growth. Prior to his role as CEO of Behaviorally, Alex served as global CEO of PRS IN VIVO, having joined the firm in October 2018.
Before joining PRS IN VIVO, Alex spent a decade building System1 Research (formerly BrainJuicer). Latterly, leading clients facing teams across 14 global offices as well as serving as an Executive Director of the System1 Group PLC Board.