New start-up reveals lack of trust in online research

A new cloud-based start-up has been launched, to provide businesses with tailor-made research.

InsightBee is incubated by Evalueserve, a leading research and analytics firm. Using a global network of over 3000 research consultants, InsightBee produces personalised, cost-effective reports through an online shopping platform – whether it is custom research on companies and industries or a specific business question.

The start-up was launched after a survey showed that nearly half (46 per cent) of the business executives in the technology industry spend over 10 hours a week sourcing business insights.

However, despite the amount of time spent researching, the same proportion of those surveyed (46 per cent) felt they could depend on the information they were able to find.

The start-up surveyed 100 senior executives in UK technology companies to understand the amount of time spent collecting business insight and to determine the perceived quality of the findings.

InsightBee uses a proprietary engine called K-Hive that generates a draft report from numerous data sources. A qualified global analyst team then validates and synthesises the data to make the report accurate and relevant.

“Our research has revealed an astonishing gap in insight. Demonstrating a deep understanding of customers and their specific needs is becoming increasingly important for winning new business,” said Manoj Madhusudanan, Managing Director of InsightBee.

“However, getting high quality insights on customers and prospects is a huge challenge for many technology firms, especially small and medium sized businesses. We have therefore launched InsightBee to make a difference in this important area, and to bring a fresh and efficient approach to research.”