The potential weaknesses of survey research methodology were blatantly highlighted when the polls did not correctly identify the winner of the presidential election. And, my last newsletter discusses what businesses can learn from the failure of the polls. My newsletter pointed out that the key lesson for business is not to give up on polls, but to recognize that any data collection and analysis methodology has strengths and weaknesses that must be weighed to determine what the information really means.
Thus, polls and surveys should not be abandoned in the wake of their recent high profile failure. Nor should the use of polls and surveys necessarily be heavily reduced. Instead, what’s needed is a rethinking of what a methodology really tells us, whether the methodology is polls and surveys, or some other technique. It’s important to use a methodology that’s suitable for the situation and to understand what that methodology can and cannot do.
In the aftermath of the election polls, we’ve seen indications that advertisers have been rethinking their use of surveys, with the possibility that surveys will be used less. Nonetheless, polls and surveys can still play an important role in business, such as for marketing research, and they can even continue to have value in politics. For example, to better “navigate any potential perils [house speaker] Mr. Ryan’s political team plans to invest more money next year in polling, research, and communications strategy,” according to the December 22. 2016 Wall Street Journal article “Ryan Steps Up Push for GOP’s Agenda” by Kristina Peterson and Siobahn Hughes.
I analyze business and am not a political analyst. But, I see important implications here. First, polls are still playing a valued role. But, additionally, it’s not just polls, but also research and strategy that help navigate the potential perils. That can include non-poll research. And, just like in business, sorting through it all, figuring out what it all means and paying attention to the possible limitations of the methodologies is essential for developing a good strategy and paving the path to success. After all, in today’s era of Big Data, using information astutely and paying attention to the patterns of successful business strategy can prove beneficial.
