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Some even feel they have too much data and are confused what to focus on. Many undertake research because it is a norm to do so at a certain time. The research department would say it is three years, so they must take a census.

The ultimate reason for conducting any research is to have the database to develop consumer or customer insights. There is a huge difference between finding data and discovering insight.

Insight is something that will not jump out from the research just like that. It requires people from various units - marketing, consumer planning and research - to put it together after seeing the raw data.

Some examples can explain the idea. Years ago, research found that more than 80 per cent of women used conditioner when they washed their hair. While they were happy with the quality of the shampoo and conditioner, the same research revealed, they spent on average more than three minutes per wash, waiting just to give enough time for the conditioner to set in. A typical company would stop there and say that research was done, there were no behaviour changes and the company should continue to develop a better shampoo and conditioner.

However, some companies did not stop there. They worked on the data found and put two and two together to derive the insight that "consumers would be delighted if they could have healthy hair, but spend minimal time on it".

As a result, 2-in-1 shampoos (shampoo with in-built conditioner) were born. Procter and Gamble was the first company that was able to commercialise this concept with its breakthrough technology that delivered product efficacy.

Insight does not need to be only functional or product related. It can be derived from anything, even the emotional side. Insight can also occur at different levels. It can be a small one that just answers one specific query, or it can be a breakthrough that turns around a brand or a company, even at a global scale.

In 2000, a powerful insight was used by Diageo on its Johnnie Walker brand. It was a brilliant work with its global advertisement agency, BBH. The insight derived from the global database was "men want to progress in life". That was when the global concept of "Keep Walking" was born.

Johnnie Walker was already the No 1 whisky brand. Then Johnnie Walker recorded its growth of 73.6 per cent to reach the level of 187 million bottles per year. The No 1 leader rose higher, with the biggest gap ever between itself and No 2.

You need to ask yourself whether you run your business in such a way, like most other people do, that you just conduct research to get raw data and facts (and use them as they are), or you do not stop there but make sure your company develops powerful customer insights from the data, which will be a breakthrough discovery for your company for years to come.

Vorathep Rangchaikul is president of Diageo Moet Hennessy (Thailand). Follow his article every third Friday of the month.