A Statistically Driven Solution to Understanding Customer Needs

A Statistically Driven Solution to Understanding Customer Needs

Marko Begonja, Samantha Pinkes & Asiri Silva • June 2, 2025
Marko Begonja, Samantha Pinkes & Asiri Silva • June 2, 2025

Share

A Common Problem: Understanding Customer Needs 

Investors and management teams often struggle to discern what customers say they want versus what they actually want. Traditional innovation frameworks and customer needs assessments (e.g., Clayton Christensen’s “Jobs to be Done” approach) rely on in-depth market conversations or rudimentary web survey analysis (e.g., ranking criteria on a scale from 1-7) to inform strategic decisions. While these approaches may often be sufficient, there remain many instances when a market’s purchasing dynamics are too complicated or nuanced for customers to clearly express their purchasing rationale. 


In these cases, there are meaningful risks, particularly for management teams seeking to refine product/market fit. The most effective way to mitigate such risk is to observe customers’ actions instead of trusting their stated intent (e.g., Eric Reiss’ “Build, Measure, and Learn” approach); though this requires a disciplined commitment to resourcing and iteration. 

A Statistically Driven Solution

At Grant Thornton Stax, we employ an alternative analytical approach to solve this issue. Our approach measures customers’ derived needs (as opposed to stated) without requiring lengthy product/market fit testing. The approach is rooted in a MaxDiff analysis, which begins with collecting data using best-worst scale web survey questioning. This questioning format presents respondents with a subset of criteria and asks them to select the most and least important on each screen. The answer options adapt based on respondents’ prior selections, thereby forcing tradeoffs while reducing survey fatigue. 


Using this data, we run a statistical analysis to quantify the relative magnitude of purchase criteria importance. The outputs from this analysis are meant to represent the “derived importance” of a customer’s purchasing criteria (i.e., what is truly meaningful versus stated as meaningful). 

Image of carious charts displaying examples of Derived Importance Analysis (Web Survey/Data Collection, Statistical Analysis, Data Synthesis)

This analysis can serve multiple purposes. In one case, on behalf of a B2B software client, we used these derived purchasing criteria and firmographic attributes, in combination with a statistical clustering analysis, to create a sophisticated market segmentation—versus segmenting based solely on firmographic attributes, like size or region. Ultimately, this enabled us to move beyond surface-level segmentation and deliver actionable strategic recommendations that changed the company’s product roadmap and commercial motion, in line with core customer needs. 

This analysis can serve multiple purposes. In one case, on behalf of a B2B software client, we used these derived purchasing criteria and firmographic attributes, in combination with a statistical clustering analysis, to create a sophisticated market segmentation—versus segmenting based solely on firmographic attributes, like size or region. Ultimately, this enabled us to move beyond surface-level segmentation and deliver actionable strategic recommendations that changed the company’s product roadmap and commercial motion, in line with core customer needs. 

Image of Asiri Silva
Image of Will Barden

Asiri Silva

Head of Data Science

Image of Sam Pinkes

Samantha Pinkes

Director

Image of Marko Begonja

Marko Begonja

Manager

Market Segmentation Based Behavioral and Firmographic Attributes

In a different case, a transportation service provider needed to pinpoint what marketing messaging would have highest resonance with school district customers. By running a similar MaxDiff analysis testing the relative importance of student outcomes, Grant Thornton Stax enabled the client to craft more targeted and effective sales and marketing materials, while also informing product development to strengthen its competitive differentiation. 

Chart of Messaging Reach: All Outcomes Resonance, TURF Analysis

Conclusion: A False Trade-Off 

Sophisticated customer insights can be achieved using a lean customer research approach. Using Grant Thornton Stax's web surveying and statistical techniques, customer needs be can more precisely assessed and implications can be incorporated into actionable sales, marketing, and product strategy. Visit www.stax.com or click here directly to learn how we can help develop strategy using deeper customer insights.

Read More

Featured by The Food Institute: Pet-Food Investments Surge as Gen Z, Millennials Drive Humanization
By Samantha Pinkes April 9, 2026
Grant Thornton Stax Director Sam Pinkes was recently featured by The Food Institute where she offered commentary around the growing humanization trend among pet owners. Read more.
5 RSA Conference 2026 Takeaways for PE Investors
By Tyler Michaels & Sam McCabe April 8, 2026
We attended the RSA Conference, a premier flagship cybersecurity conference. Read our list of takeaways to learn about how cybersecurity assets will be impacted over the next year.
Paul Edwards on The Consulting Report's Podcast: Top Consultant
April 8, 2026
Grant Thornton Stax’s Paul Edwards, named a Top Consultant by The Consulting Report, joins RJ Lumba to discuss the award and life at the firm.
Grant Thornton Stax Advises Uplift Investors on its Acquisition of IMS Legal Strategies​
April 6, 2026
Grant Thornton Stax supported Uplift Investors on its recent acquisition of IMS Legal Strategies, a global provider of expert and advisory services. Read more about the deal here.
Youth Sports: Expanding Value in a Growing Market
By Owen Tindle & Luke Scheibel April 6, 2026
Youth sports has emerged as one of private equity's most actively targeted consumer categories, and Owen Tindle and Luke Scheibel share Grant Thornton Stax perspectives. Read more
Grant Thornton Stax Advises CenterOak on Acquisition of Grismer
April 2, 2026
Grant Thornton Stax supported CenterOak Partners on its recent acquisition of Grismer Tire & Auto Service, a leading operator of tire and automotive service centers. Read more here.
Show More