On May, 22 2020
Introducing the next episode of our Casual Conversation series! This time we're looking ahead as we explore the possible futures awaiting us in insight technology. Join our CEO, Paul Hudson, with our Technology Development Manager, Annette Smith, and Head of Insights & Research, Amy Greenwood, in this new video to discuss the future of insights technology, and the impacts that will have on our industry and research processes.
The Innovations of Insight Technology
The future is a wildly unpredictable and ever-changing entity, and the technological aspect isn't any different. Technology is the prime catalyst for many innovations across all industries, with market research being just one of many experiencing continuous technology-based evolution.
Technology allows us to connect with participants regardless of where they are and what time zone they're in, and Since the dot.com boom in the late nineties to early noughties, businesses and consumers have adopted smarter technology in quick succession, allowing for an instant connection to be formed no matter what device they might use. Computers, laptops, and smartphones have become the most effective channels for market research, and online market research is slowly reaching it's full potential.
But as it's reaching it's potential, where do we go next? What technologies are being developed and is there a way to incorporate them into the research process so that insights industry can evolve in conjunction with the technological landscape? That is what Paul, Annette, and Amy are discussing in this episode. As expert insight professionals, they paid close attention as the insights industry has evolved into what it is today, and have some ideas as to how to improve the research process for the future.
There has been a lot of talk in the past few years on the topic of automation, how we can automate processes now so that insight professionals can focus on generating accurate and actionable insights for business use. But the use for automation is still growing, without this need being met. Amy foresees more automation in the future of the insights industry, focussing on the simpler research tasks such as task scheduling and the creation of data tables and graphs for easier analysis. Insight reporting is a big topic to be exploring, since it's on the verge of an innovative evolution itself, so automation in the analysis process would be a great boon to researchers looking to focus more on insight activation.
With the working world undergoing a rapid shift, we're focussing more and more on how video can be used in the research process. Traditionally, we've used video in the form of live web-interviews with participants for either group or one-on-one discussions, but that's only the very start of it's potential according to Annette. Annette explores the technology that could enhance the use of video in market research but also the challenges that we're presented with in regards to the analysis of video data - as well as using technology to help us harvest more video data at scale, we will also need to utilise technology to help us analyse it effectively.
Quantitative research has been the main method used in most market research projects to date, with qualitative focus groups making an appearance to help iron out the details and get to the root of the ever-elusive 'why' question. But Paul advocates that a focus on qualitative technology can aid our understanding of human behaviour, capture the emotion behind the answers, and provide richer insights for activation. With a future focus on qualitative technology we will be able to create more ways of connecting with participants.
The Casual Conversation Series
A Casual Conversation on... is a series of short, candid videos with the FlexMR leadership team that introduce the key offerings of the agency, our thinking and viewpoints on the future of market research and the insight industry. Throughout these videos, you'll hear direct from those involved in designing the InsightHub platform and the unique agency model that FlexMR operates.