CRG Predictive Intelligence, a division of CRG Global

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From innovative new product ideas to new flavor variants, service offerings, packaging, and more, idea validation is a critical step in the development lifecycle that, if done correctly, helps accurately identify the ideas that are most likely to succeed in-market. Using the right screening tools, companies can determine which ideas are the most viable, while failing fast on those that aren’t, directing their resources toward ideas that are more likely to deliver a robust ROI. In this article, we take a closer look at the idea validation process, exploring what it is and why it matters for businesses looking to save time and money when assessing a new product or service for market potential.

While we like to believe that data, numbers, statistical analysis, and math belong to a world of cold, hard, inarguable facts, the real truth is this: Sometimes, data lies. Why? Because lurking under the surface of even the most carefully designed survey is an invisible force always working against the truth, undermining data quality, obfuscating reality, and giving market research professionals a major headache in the process. This force is, of course, survey bias, and it presents a particularly destabilizing variable in the world of market research.