The world has become more consolidated over the last couple of years, especially post the COVID-19 pandemic. Technology plays a pivotal role in almost all industries today, including market research. Nonetheless, it has taken some time for the market research industry to catch up and fully leverage technology for accurate outcomes.
Artificial Intelligence (AI) has helped market research take a huge leap and has positioned the industry for success going into the future. The importance of data for modern businesses cannot be echoed enough. You have to take full advantage of data to have any chance of successful business today.
Data is essential information, and what we do with this information is pivotal for our enterprises. Businesses have access to a lot of big data in this era because the world has gone online. However, experts can’t run through this data at the rate which AI does.
AI enables data collection, organization, analysis, and interpretation at a massive scale, never before attainable. Ultimately, AI enables brands to better understand and predict market trends allowing them to better prepare for any shifts.
The possibilities for market research trends with AI are limitless. Traditionally, market researchers tend to structure questions that are used to capture information from consumers. However, we forget that human bias is a factor when structuring these questions. Sometimes we fail to ask the more pertinent questions because our human minds are limited.
However, with AI, data is often captured in real-time and over more organic conversations. This way we get more accurate insights into what consumers want without the element of bias. We’ve only just scratched the surface of AI in market research trends and the future looks promising.
It will probably take time for more industries to adopt and implement AI in their market research, but that’s expected.
The process of change and transition is often slow and steady. Nonetheless, AI is here to transform and advance market research trends in previously unimaginable ways. Tune into the full conversation on our podcast here.
If you would like to talk to D/A about understanding your audience and potential audiences better for segmentation, targeting and messaging across GCC markets, demographics and languages, get in touch today.
