What is Insight

Insight

Definition:

An insight is knowledge in the form of perspective, understanding, or deduction. Someone may come up with an idea after a long period of thinking or suddenly out of nowhere, as in a sudden revelation or understanding.

An insight is a thought, fact, combination of facts, data and/or analysis of data that induces meaning and fosters understanding of a situation or problem that has the potential to benefit the company or re-direct thinking about that situation or issue which, in turn, has the potential to benefit the company.

 

Analysis in search of insights

To find an insight,it is essential:

  1. Describe the current situation and what consumer behavior responds to.
  2. Describe the dilemma that the consumer has and clearly articulate why this poses a problem.
  3. Describe the final state desired by consumers, their ideal situation.

Insights are usually hard to find, but they are central to any strategy. They reduce irrelevance and focus on what is meaningful, laying the foundation for product success and developing services.