Essential Strategies for Effective Data Gathering PPT

This PPT slide, part of the 25-slide Commercial Due Diligence (CDD) - Process Elements PowerPoint presentation, presents 5 essential tips for effective data gathering, emphasizing the importance of proactive engagement and creativity in the research process. The first point stresses the value of interviews, highlighting that a significant portion of insights—around 80%—comes from direct conversations with experts, users, and competitors. It notes the necessity of obtaining approval for interview subjects, indicating a level of caution regarding sensitive information.

The second point advocates for utilizing phone communication as a vital tool. It encourages reaching out to a broad range of stakeholders, including customers and distributors, to gather diverse perspectives. This approach underscores the need for immediacy and direct interaction in the data collection process.

The third tip calls for creativity, particularly in scenarios where formal market research is lacking. It suggests that cold-calling industry players can yield valuable insights, promoting a hands-on approach to information gathering.

The fourth point discusses the importance of frontloading information searches and data requests. It recommends organizing bulk research requests and possibly designating a dedicated research resource to streamline the process, which can enhance efficiency and focus.

Finally, the slide emphasizes the urgency of launching original research as soon as possible. It suggests having a committed research team member from the outset to ensure that the study is grounded in fresh data. This proactive stance is crucial for developing meaningful insights, as indicated by the concluding statement that highlights the key to insight generation lies in creating new data. Overall, these tips provide a structured approach to gathering actionable intelligence for decision-making.

This slide is part of the Commercial Due Diligence (CDD) - Process Elements PowerPoint presentation.

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