Managing Director, D’Well Research
The changing global market has compelled innovation and a paradigm shift in the way businesses are being conducted and controlled. Move along or be left behind is the new axiom to follow. Old ways don’t open new doors. Since market research is all about opening new doors, the industry has followed the new wave set forth by the scope and course of this change and refined its work to remain cutting-edge.
Technological trends are impacting market research and the industry is exploring avenues to put technology to good use. Automation combined with artificial intelligence is going to make research faster and cheaper. Desk research will gain an upper hand over field research as automated data collection methods gain importance and fulfill the promise of delivering relevant inputs.
Development of software that takes advantage of the available data can give new research options compared to labor-heavy surveys. However, quick-and-easy results come with their share of drawbacks. The importance of human overview in interpreting the results obtained cannot be overemphasized. Only then can the research be given the right direction.
With the world undergoing changes politically, socially and economically, businesses are facing their share of surprises. This has led to larger dependence on market researchers to understand the way forward. Though there is availability of data in large quantities through data mining, social media and online surveys, the researcher will need to sift through this and remove the grain from the chaff to come outwith concise findings and a clear point of view to address the issues put forth by the clients. So, it’s not the data but the communication of its insights that will drive decisions.
Information available in real-time combined with the possibility to use online tools has made it pos...