Artificial intelligence has become a significant boon to market research, with many tools now on offer for insight experts to use in automating extraneous time-consuming parts of the market research process, and spend more time focussing on the aspects that matter most – insight generation and activation.
FlexMR published an article on Research Live on 6th February 2024, entitled Scaling Success with AI in Market Research, exploring just three of the many applications of artificial intelligence in market research: research design, qualitative text analysis, and participant communication.
Scaling Research Success with AI
Insight experts have been steadily adopting artificial intelligence software into their technological arsenals for a few years now. The technology surrounding automation and artificial intelligence has grown to be a reliable tool to maximise efficiency in certain elements of market research, with more new AI-based tools being added to the marketplace every day for our convenience. But which ones stand a chance at adding true value to the research process? Here are three examples of areas that insight experts could stand to gain value on:
1. Informing Research Design
Research design has been a significant time-consuming process in the market research experience, with collaborations between insight experts and stakeholders resulting in exceptionally tailored research projects that generate incredible insights.
Now there are AI-tools such as ChatGPT and Google’s Bard application that can help us generate new ideas and create new templates for research tasks in the design stage. While we still need insight experts to build the content calendars, programme tasks and schedule them to go live, we would be remiss if we did not use AI-based tools and programmes to start the ball rolling so to speak.
2. Innovative Qualitative Analysis
There are many quantitative tools available to insight experts to sift through statistical data and present them in graphs, tables and charts – but only very recently have we seen some tools appearing on research marketplaces that work with qualitative data.
With new evolutions of artificial intelligence such as generative AI, there is renewed potential for insight teams to hand over the initial analysis of qualitative data to automation. Generative AI tools like our TextMR promises fantastic automated text analysis, not just through keywords, but sentiment analysis with thematic tagging, which helps insight teams jump to the most important part of analysis – high-quality insight generation.
3. Enhanced Communications
Communicating with participants, whether that is through scheduled research tasks, regular updates and newsletters, or simply ad-hoc replying to participant questions and concerns, could be considered a full-time job. This is where automation and AI tools come in.
However, participant relationship management can also be managed in-house from some research platforms such as FlexMR’s InsightHub. Alongside integrated data collection and analysis tools is an area to create impactful newsletters and send them to pre-constructed consumer groups to close the feedback loop.
Discover more in the full article on Research Live now.
About Research Live
Research Live is the world's leading source of industry news, opinion, special reports and feature articles for market and social researchers, data analysts and consumer insight professionals. Covering the latest trends and techniques from behavioural economics to big data analytics, as well as hot topics like polling and privacy. The publication is operated by the Market Research Society.
