Automation is widely used in the market research industry and has effectively saved time and money for many firms. When a task is automated, software follows the instructions given. The dramatic innovation offered by Artificial Intelligence over automation is the learning that occurs in the system itself, without human intervention. Here are six dramatic impacts utilization of artificial intelligence can have on the market research industry:
Improve Surveys Continuously
Ask a follow-up question to the follow-up question in real time. Artificial intelligence algorithms will pose questions you never would have thought of based on past respondents. Feedback and insights will be more conversational, something that has been proven to provide more robust data.
Open-Ended Text Analytics
Open-ended survey responses, social media comments and contact center call logs can be analyzed with natural language processing and sentiment analysis in real time. You will see trends clearly and understand prevailing sentiment across incredible amounts of data that will allow you to take informed action.
Proactive Community Management
Online communities or panels provide a forum for constant conversation with customers. Behavioral predictions driven by AI on logins, page views and time between logins helps build individual engagement profiles. Maintaining this engagement by reducing churn and disengagement will provide higher quality results.
Reduce Human Bias
Artificial Intelligence removes unconscious human bias by remembering all events, reactions, responses as simple data. Think of a focus group where the leader remembers responses in a certain way creating a chance for bias in the final report. AI processes factual information only.
Faster Report Writing
Natural Language Processing and Natural Language Generation enable the researcher to capture different qualitative data more clearly and factually. AI will allow you to write individualized reports based on keywords or subject areas the client is interested in, without spending hours in PowerPoint.
Easily Done Secondary Research
As more and more content is archived on public and private networks Artificial Intelligence can be used to process troves of data in seconds and reveal trends and themes for your research and for your clients.
Ninety-three percent of 250 market researchers surveyed by Qualtrics said Artificial Intelligence is an industry opportunity and 80% said AI will make a positive impact on the market. Is your firm at the forefront of utilizing this industry changing technique?