27 Jan DATA SCIENCE AND ANALYTICS 4.0: NEW MARKET RESEARCH TRENDS TO BE TRACKING
With technologies evolving, market research capabilities advance to deliver more granular, real-time data flexible enough to guide strategic decisions. All manner of interesting new developments and trends promise to accelerate progress throughout 2024 and 2025.
Leveraging modern connectivity, video-based research gains significant user engagement and insight potential. Through video calls, survey platforms obtain facial reactions, tone analysis, environment observations and think-aloud commentary not accessible through text or verbal methods alone. Videos collect non-conscious micro-expressions and cues within actual home or work usage environments for authentic emotional responses and body language.
Integrating this video technology into virtual shopping simulations elicits detailed feedback. Product mockups, branding concepts and simulated environments depict realistic experiences for panelists to evaluate. Follow-up questions prompt open dialogue while video captures honest reactions in the moment during these digitally recreated scenarios.
From web-based platforms to in-home smart devices, the Internet of Things (IoT) also enlarges market research capabilities. Connected products relay actual usage behaviors – what settings consumers use, frequency patterns, which features they ignore. Such concrete behavioral data avoids reliance on claimed usage and supports trend analysis across wider respondent pools.
As these smart products proliferate alongside apps and sites requesting consumer data input, survey fatigue increases. Conversational user interfaces emerge as an engaging solution. Integrating voice technologies like Amazon Alexa or chatbots, research interactions feel fresh through natural dialogue mimicking human researchers. The simplified, interactive question sequences sustain high completion rates while reaching audiences on preferred communication channels.
Finally, artificial intelligence-powered analytics achieve quick, accurate synthesis of exponentially growing data streams from these myriad sources. With self-learning abilities, AI platforms automatically surface unexpected connections, anomalies and predictive models to rapidly empower strategic decisions once reserved for lengthy expert analysis.
As an agile tool for comprehending ever-evolving consumer motivations, market research continues rapid transformation. Harnessing the latest technologies results in more immersive, behavioral and scalable insights to clearly expose openings, trends and next best actions across industries.