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How a deeper understanding of human behaviour can transform your business
Most complex business problems boil down to human behaviour. Ultimately, how people behave strongly influences how products, services, and organizational processes are designed and how stakeholders embrace them. That’s where behavioural insights comes into the picture.
As emerging threats and opportunities transform the business landscape, organizations that harness the power of applied behavioural science to understand what drives customers and employees to think or act the way they do will prevail.
Through behavioural insights (i.e. applied behavioural science), we can see how we don’t always make decisions in a rational and calculated way. We often use thought processes that are intuitive and intuition-driven rather than deliberative and planned.
You can’t force people to be more rational, but by recognizing the power of personalization and anticipating cognitive biases using behavioural science and data analytics, you can design targeted, cost-effective interventions that nudge people toward better decisions and behaviours. It’s about addressing the inefficiencies that stand between you and the best outcomes for your organization and stakeholders.
Gallup research shows that companies applying behavioural insights principles outperformed peers by 85% in sales growth and more than 25% in gross margin during a one-year period.
PwC’s behavioral insights practice looks at using the science and knowledge of human behaviour to decide how to solve problems in order to get the best outcome for customers, employees and citizens. In the digital era, many businesses are faced with disruption from new and emerging technologies. While this innovation is exciting and is changing how we work it’s only part of the equation.
Your people and processes are key to successful business transformation but are often overlooked. The value of truly understanding human behaviour across your organization is imperative to setting up your organization for success.
Our behavioural toolkit uses the power of applied science and data driven insights from reality to help you work towards your strategic initiatives.
PwC's behavioural insights practice consists of researchers, strategists, and designers who specialize in applying the science of human behaviour to solving business problems. Our Canadian practice is part of PwC's integrated, global network of applied behavioural science teams.
We work across multiple contexts and industries, but recent projects include helping organizations in banking, wealth management, insurance, utilities, retail, not-for-profit, and government sectors.
Our team of applied scientists works alongside industry and competency specialists to combine the best of subject matter expertise, empirical rigor, and practical market insights.
Our offerings fall into three broad categories:
Businesses are facing issues around:
Below we have listed some of the ways in which we have used behavioural insights to help customers solve these problems and others.
We have over 50 Canadian case studies and many more globally.