How can creative workshops improve and innovate businesses?
In this fast paced world it is important for businesses both big and small to stay on top of new developments, but also to challenge and adapt to changing market conditions. R&D creative workshops are a good way to keep your business relevant and ahead of the competition.
Why is it important for businesses to improve?
In order to survive, businesses must innovate. Technological advancements have ensured that the speed of change has accelerated and being complacent will leave you behind. For example, Nokia phones dominated the market for fourteen years between 1998 and 2012. There was little progression with their design because there was nothing else on the market that could compete. It’s legendary heavy brick build, long lasting battery and notorious game of snake is what now makes the Nokia phone a vintage staple for the 00’s collector. But then Apple revolutionised telecommunication in 2007 when Steve Jobs introduced the iPhone to the world. Seeing Nokia’s mistake, Apple were quick to release multiple iterations of the original device yearly keeping them at the top of the market.
What do we improve?
Here at Brightblue we run regular R&D workshops that consist of the whole team collaborating to review ideas and create new concepts to improve our work both internally and externally. This stimulates creativity in an uplifting environment and has produced some of our most innovative concepts to date. For example, improving internal efficiency was a vital workshop for us last year as it helped us to speed up menial tasks, such as data manipulation, allowing us more time to focus on the more important tasks like presentation writing and delivery.
Another important outcome from our workshops is our new Real Time Modelling product. Traditional Market Mix Modelling (MMM) requires a three month wait once a campaign has aired to get to a campaign/event ROI, we were able to shorten this to just a week. In addition to this, we also came up with the idea of Dynamic Attribution which fuses MMM and attribution modelling together, and allows our clients to allocate budgets across offline and online channels. As you can see, these workshops ensure a continuous track of forward thinking ideas, which motivates us to improve internally so that we can grow externally, and help grow our clients.
How can our clients benefit from this?
Our team have orchestrated multiple successful workshops for our clients. They have encouraged them to look at their business from a different angle, allowing them to understand their own data better. This leads to clearer key objectives and priority areas for analysis.
Our most recent session was an econometrics training workshop where the need for clean data was identified. Members of the client team, both junior and senior, were shown how we use their data, and how we build a model with it, making it clear that correct and clean data is paramount for the model to work.
The next few months will see us working on how to expand our current position and how to save time in the workplace. But most importantly, making sure we are on the right track to delivering a continually better product for our clients.