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What are the most innovative ways to use secondary research in business?

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Secondary research is the process of collecting, analyzing, and synthesizing data from existing sources, such as reports, surveys, articles, or databases. It can help businesses gain insights, identify trends, benchmark performance, and support decision-making. However, secondary research is not just a passive or routine activity. It can also be a source of innovation and creativity, if you know how to use it effectively. In this article, we will explore some of the most innovative ways to use secondary research in business, and how they can help you achieve your goals.

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1 Use secondary research to generate new ideas

The advantage of secondary research is that it provides you with a range of perspectives, opinions, and experiences from different sources. This can help to stimulate creativity and generate new ideas for your business. For example, secondary research can be used to spot gaps or opportunities in the market not addressed by competitors or existing solutions, identify customer needs, preferences, or pain points that can be solved with products or services, discover best practices, success stories, or case studies from other industries or regions that can be adapted to your own context, and explore alternative scenarios, hypotheses, or assumptions that challenge your current thinking or strategy.

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Ifunanya Stella Ezeoye

MCA(UK) Licensed Marine Engr.| EOOW Unlimited Motor and Steam Ships| Seafarer|Merchant Navy|SDG4,5&7 Advocate| Climate Reality Leader
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The importance of secondary research can never be overemphasized. As an academic researcher, I am currently utilizing secondary research to explore the feasibility of the application of composite materials in offshore floating wind turbine foundations. The output of this research will enable offshore wind industries to gain valuable insights into how to maintain a sustainable business in the wind industry. These insights can spark creativity and facilitate the generation of new ideas for designing, manufacturing, and implementing wind energy solutions in challenging offshore environments.

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2 Use secondary research to validate your ideas

Another benefit of secondary research is that it can help you validate your ideas and test their feasibility, viability, and desirability. You can use it to find evidence or data that support or contradict your ideas and assumptions, compare them with existing solutions or benchmarks to evaluate their strengths and weaknesses, assess the size, growth, and characteristics of your target market and potential customers, identify the key drivers, barriers, and trends that affect your industry or sector, and evaluate the risks, costs, and benefits of implementing your ideas.

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Mark Gannott

Neurogenomics, Life Science Insights, Pharmacoeconomics, Valuations
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Interdisciplinary fields benefit robustly from evaluating the core components of the research. After all, oftentimes a specialist is meant to bridge the two subjects. To that end, they are among the best use cases for secondary research to understand both landscapes well enough to comprehend the convergence. For instance, deep-pipeline drug research (all secondary research) can allow the opportunity to be valued properly by assessing what exists now, what will exist soon, and what does not exist (but maybe should). For instance, in pharmacoeconomics, a patent search combined with a cost-effectiveness analysis is the basis of a gap analysis.

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3 Use secondary research to communicate your ideas

A third benefit of secondary research is that it can help you communicate your ideas and persuade your stakeholders, such as customers, investors, partners, or employees. You can craft compelling stories or narratives that showcase the value and impact of your ideas, use relevant facts and figures to illustrate your points, provide credible sources to demonstrate your expertise and credibility, use visual aids to simplify or highlight your data or information, and tailor your message or tone to suit your audience and purpose. All of these elements can help you effectively communicate your ideas and persuade your stakeholders.

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Catherine Lok

Executive Director Office Analyst at Global Alliance for Improved Nutrition (GAIN)
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Secondary research is commonly used in day-to-day businesses. We know the common usage - which is to inform us of new learnings or add credibility to our research. When aggregating a large amount of secondary data, sometimes the papers which you read will not always agree with each other. Sometimes they may even support or differ from your own primary findings. What are the overall trends or differences? Why? It is fun to find patterns, and even when you don't, the data is still telling you something. This is a short insight into the ways that secondary research can be used innovatively.

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4 Use secondary research to improve your ideas

Secondary research is an invaluable tool to help you optimize the performance of your ideas. It can be used to monitor feedback, identify strengths and weaknesses, learn from the successes or failures of similar ideas, seek new sources or methods of research, and stay up-to-date with the latest developments in your field. Through creative and strategic use of secondary research, you can create value for yourself and your stakeholders by generating, validating, communicating, and improving your ideas.

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Matthew Parlato

Formulations/CMC Scientist; Product Development Scientist; Innovater
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As someone who spends a lot of time in product development, I completely agree with the concept here. During product development, you will many times encounter set-backs that do not have an obvious solution. These are great times to do some secondary research, which usually shows you have others have tackled similar problems. Alternatively, it may show you that no one has solved a similar problem, which is often a good time to change directions :) Or if you are trying to tackle a novel problem, it indicates that this is a good problem to tackle.

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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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What are the most innovative ways to use secondary research in business?

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2

3

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5

1 Use secondary research to generate new ideas

2 Use secondary research to validate your ideas

3 Use secondary research to communicate your ideas

4 Use secondary research to improve your ideas

5 Here’s what else to consider

Thought Leadership

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What are the most innovative ways to use secondary research in business?

1

2

3

4

5

1 Use secondary research to generate new ideas

2 Use secondary research to validate your ideas

3 Use secondary research to communicate your ideas

4 Use secondary research to improve your ideas

5 Here’s what else to consider

Thought Leadership

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