David Frigstad, Chariman of Frost and Sullivan, says that “corporate growth is driven by globalization, free market economies, and increased global competition.” As such, his company focuses on developing innovative strategies for their clients through Customer Research, Market Consulting, Growth Workshops, Market Research among other services. Research obviously plays a vital role in enhancing business growth. Like Frigstad’s firm, many other companies provide research consulting as a crucial part of a modern dynamic company.
What is research consulting?
Research consulting or Research-Based Consulting involves a more personalized engaged method of applying an extensive body of research, data-driven insights and best practices to a company’s specific business challenges. Firms providing research consulting as a service employ their experts and analysts to leverage their world-class research and proprietary data for any particular company’s objectives. They can readily design and tailor recommendations based on their portfolio of frameworks and methodologies.
Invariably, research consultants strive to remain independent of any technology bias or vendor influence in order to provide an external viewpoint that may challenge conventional wisdom in any business or industry sector.
Insights derived by expert research consultants are tailored according to a company’s role in any business or industry and the critical initiatives undertaken to fulfill that role. Research independence is essential to remove the common mistakes and biases that often make business decisions either fall short of their goals or are made in accordance to the interests of other companies or any external institution.
Some of the specific methods utilized in research consulting include the following:
• Visioning Sessions
This involves focusing on a company’s critical goals with analysts and consultants during