How do you leverage secondary research to generate new ideas and opportunities for innovation?

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Secondary research is the process of collecting, analyzing, and synthesizing existing data and information from various sources, such as reports, articles, surveys, databases, and more. It can help you gain valuable insights into your industry, market, customers, competitors, and trends, without spending time and money on primary research. But how can you use secondary research to generate new ideas and opportunities for innovation? Here are some tips and strategies to help you leverage secondary research effectively.

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Pratik Shirsath

| Research Associate | Qualitative & Quantitative Research | Competitive & Strategic Analysis…
Melinda Spaulding
Jyotika Rohilla

change is the only constant.

1 Identify your research objectives and questions

Before you dive into secondary research, you need to have a clear idea of what you want to achieve and what you want to learn. What are the gaps in your knowledge or understanding of your problem or opportunity? What are the specific questions you want to answer or hypotheses you want to test? Having a focused and relevant research objective and question will help you narrow down your search scope and criteria, and avoid getting overwhelmed by irrelevant or outdated information.

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Pratik Shirsath

| Research Associate | Qualitative & Quantitative Research | Competitive & Strategic Analysis | Industry Benchmarking
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Having a clear idea and defined purpose for the research is very essential. Defining the objectives makes it more convenience to asses the impact and direction of the efforts as well.

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Jyotika Rohilla

change is the only constant.
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Prior to initiating Secondary Research, it is essential to follow these steps: 1. Define the Research Area: Clearly delineate the scope of your research. Identify the specific domain or topic you intend to explore. 2. Formulate Research Questions: List the key questions you aim to answer through your research. These questions will help you focus on relevant information. 3. Narrow Down the Search Topic: Refine your search topic by considering the specific aspects or subtopics within your chosen area. This step ensures that your research remains targeted and relevant. 4. Select Information Sources: Evaluate and choose appropriate sources for gathering data.

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Ankesh Saxena

32x Top Voices | Podcaster @ The Collaborative Canvas | Do you also hear what people say? | Learn and Grow | Market Research | Personal Branding | Consumer Insights | Sales | ESOMAR member | MRSI Member |
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Leverage secondary research to generate new ideas and innovation opportunities by analyzing existing literature, market reports, and industry trends. Identify gaps, emerging patterns, and unmet needs in the data. Use insights to inspire creative solutions and product/service enhancements. Explore alternative perspectives and methodologies to uncover hidden opportunities. By synthesizing diverse sources of information, secondary research can serve as a catalyst for innovation and drive strategic decision-making in business development.

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2 Find and evaluate reliable sources

The next step is to find and evaluate the sources of secondary research that can help you answer your research question. Depending on your topic and industry, you may need to look for different types of sources, such as academic journals, industry reports, trade publications, government statistics, market research firms, media outlets, and more. You should also consider the credibility, accuracy, timeliness, relevance, and bias of each source, and check the references and citations to verify the quality of the data and information. A good way to evaluate sources is to use the CRAAP test, which stands for Currency, Relevance, Authority, Accuracy, and Purpose.

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Pratik Shirsath

| Research Associate | Qualitative & Quantitative Research | Competitive & Strategic Analysis | Industry Benchmarking
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Finding reliable sources for collection of timely accurate data is very essential. source credentials, peer reviews, cross verifications, citations and most importantly the relevance of the source with the study are some of the important points to be consider.

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3 Analyze and synthesize the data and information

Once you have collected and evaluated the data and information from various sources, you need to analyze and synthesize them to draw meaningful insights and conclusions. You can use different methods and tools to analyze and synthesize secondary research, such as SWOT analysis, PESTLE analysis, Porter's five forces analysis, trend analysis, gap analysis, benchmarking, and more. The goal is to identify the patterns, trends, opportunities, threats, strengths, weaknesses, gaps, and best practices that can help you answer your research question and generate new ideas and opportunities for innovation.

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4 Apply and communicate your findings

The final step is to apply and communicate your findings to your target audience, whether it is your team, your clients, your stakeholders, or your customers. You should present your findings in a clear, concise, and compelling way, using visual aids, such as charts, graphs, tables, infographics, and more. You should also highlight the key insights and implications of your secondary research, and how they can help you create value, solve problems, or seize opportunities. You should also provide recommendations and action steps based on your findings, and invite feedback and suggestions from your audience.

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Pratik Shirsath

| Research Associate | Qualitative & Quantitative Research | Competitive & Strategic Analysis | Industry Benchmarking
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Communicating the findings is one of the most crucial tasks because the data would of no use without contextualisation, clarity and decision making interpretations. Tailoring the findings based on audience and keeping it structured and simple can really become exceptional

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5 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Melinda Spaulding
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Secondary data sources can be vast and overwhelming. Consider a cyclical process: 1) set a time limit for your source search 2) once you hit that limit review what you have 3) based on your review, prioritize any outstanding questions with a new search (and time limit) to start back at step 1

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How do you leverage secondary research to generate new ideas and opportunities for innovation?

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1 Identify your research objectives and questions

2 Find and evaluate reliable sources

3 Analyze and synthesize the data and information

4 Apply and communicate your findings

5 Here’s what else to consider

Secondary Research

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