Data Analysis and Text Mining
Most of the quantitative data material After the Millennials uses is based on research carried out in larger institutions. How we use data is extensively documented in the section on Strategic Foresight. But we also carry out surveys ourselves, and the level of rigor and sample size is a matter of your budget. Quantitative insights are particularly important in generational research because the internal variation is so vast. Moreover, it can be difficult to know whether a trend is truly generational or if there are reasons to believe the trend affects all generations or if the generation studied will “grow out of it”. A one-time survey cannot truly test generational trends because there is no way to distinguish cohort (generation) from period or age effects. However we can customize our own surveys so that they seek answers to questions that have been asked the same age group a decade or two ago. This will give us an idea if the change is generational or not. Alternatively we can carry out surveys that have been done in other countries to compare trends across countries. This is useful when independent variables in different countries are expected to produce different outcomes in the population.
Advanced computer programs offer us interesting new areas of data analysis by parsing unstructured text data in statistically meaningful ways. After the Millennials has started applying Natural Language Processing applications (NLP) to follow conversations in social media. This means that we can recognize patterns, discover novel trends and sometimes derive the sentiments expressed about the keywords we plug in. This method can be customized to each client and company specific search criteria can be matched with keywords that express existing generational trends. Finding the right codes is often less laborious than finding the search criterium that will give useful insights, which is why text mining is used in addition to traditional environmental scanning.
After the Millennial’s existence is based on good work. We want to deserve your business. Whether your needs are limited to a shorter strategic interview or a larger foresight project, please contact to discuss the many options or have a detailed look at Services.