Discover the two key types of insights—qualitative and quantitative—gained from customer research at the portfolio level in Lean Enterprise frameworks. Learn how these insights drive strategic decision-making.
Table of Contents
Question
What are the two main types of insights that can be gained from customer research at a portfolio level? (Select one best answer)
A. Demographic and quantitative insights
B. Behavioral and psychographic insights
C. Qualitative and quantitative insights
D. Regional and demographic insights
Answer
C. Qualitative and quantitative insights
Explanation
At the portfolio level, customer research aims to uncover actionable insights that guide strategic decisions, product development, and customer-centric innovations. The two main types of insights gained are:
Qualitative Insights
- These insights explore the why and how behind customer behaviors, motivations, and preferences.
- Methods include interviews, focus groups, observations, and open-ended surveys.
- They provide rich, detailed information about customer experiences, emotions, and perceptions that cannot be captured through numbers alone.
Quantitative Insights
- These involve numerical data that can be measured and statistically analyzed to identify patterns, trends, and correlations.
- Methods include structured surveys, experiments, and data analytics tools.
- Quantitative insights are ideal for validating hypotheses and making generalizable conclusions based on large datasets.
Why Not Other Options?
A. Demographic and quantitative insights: While demographics are useful for segmentation, they do not represent the full scope of customer research insights.
B. Behavioral and psychographic insights: These are subsets of qualitative research but do not encompass the broader quantitative analysis.
D. Regional and demographic insights: These are specific data points but lack the comprehensive approach of qualitative and quantitative methods.
By integrating both qualitative and quantitative approaches, organizations achieve a holistic understanding of their customers, enabling better portfolio-level decisions.
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