VIDEO

How to create Demand Spaces: 4. Do Demand Spaces need fresh data?

Shanna Boland

Transcript

In short, not necessarily, it depends what you have access to, and the level of confidence you are seeking.

We are firm believers in starting with what you already know. And most clients already have access to a lot of data, for example, an existing 5Ws framework. Demand Spaces can often be created by recutting this existing data.

We can bring multiple frameworks together, for example, needstates and occasions frameworks could be combined. This can be enriched with publicly available data, or data from syndicated reports to give it extra robustness.

Demand Spaces can also be created qualitatively in the first instance before validating them at a later stage through quant.

And finally, they can be hypothesised using the collective experience and knowledge from the people in the business. It all depends on what you are looking today and the confidence level you require in getting them right.

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