There’s a whole lot of talk about the power of data these days. The thing about data—big or other-sized—is that its real value lies in the insights generated from its thoughtful analysis. This week, Forbes announced a new partnership with Prosper Analytics to release the Forbes Executive InsightCenter, which is designed to offer clear, usable insights derived from thousands of data sets and consumer insights.
Forbes’ founded its Insights business two years ago and has seen impressive growth thus far—doubling business last year and on track for another 50% growth this year, according to Bruce Rogers, the company’s chief insights officer. Rogers says that the launch of the Executive InsightCenter came about when they identified “a bit of a missing piece in the insights we were offering the marketplace; we really didn’t have a consumer component to our insights.” The new subscription-based platform is designed to benefit business executives who work at consumer-focused business in the U.S. or China, or that have customers in China.
Rogers emphasizes that this is not another market research product. “I don’t want to compete with market research companies,” he says. “I can throw a rock out of my window on 5th avenue and hit someone who does market research. We want to provide something they can’t get anywhere else—usable insights.”
They may overlap with traditional market research in some ways, but Rogers says that a unique way that Forbes’ foresees their data being used is to fuel informed content marketing initiatives, an area in which Forbes has a good deal of experience. “Companies are spending as much as 25% of their budgets creating content to fill communication channels. But there remains as shortage of genuine thought-leadership and expertise.” Forbes InsightCenter is designed to quickly provide insights that can be leveraged to create research-based content which Forbes has found generates high levels of engagement. “Research is candy on the web.”
One thing that distinguishes the tool from its crowded field of market research peers, is an easy-to-use dashboard, says Rogers, which was a product of its collaboration with Prosper. A high-level view is generated by customized data sets tailored to an executive’s specific needs and industry. The data includes a U.S. consumer panel of about six thousand respondents that can be queried to provide leading indicator information. In addition, Prosper has developed a consumer panel in China which Rogers describes as “no small feat.” As he points out, “the world is pivoting to Asia and while China provides an amazing, huge opportunity—it is fraught with challenges.”
Forbes brings perspective and “journalistic insight on what is actionable and usable from the data, along with distribution.” This is not a brand licensing deal. The Forbes Executive InsightCenter is the result of a partnership with Prosper Analytics which he sees as a strategic brand extension for Forbes Insights. “This tool offers a powerful way for organizations and executives to demonstrate expertise on a topic and we look forward to helping them succeed.”