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Archive: January 21, 2019

Market Research Undoubtedly Benefits From the Use of Artificial Intelligence

There is an excellent chance that most people encounter artificial intelligence in the course of their everyday activities. When what appears to be a customer service representative offers assistance to someone perusing a website, that’s artificial intelligence. The information in a person’s news feed is curated by artificial intelligence; at times, the stories posted by major news outlets are also developed through AI. Artificial intelligence is at work when speaking to Alexa or Siri, when providing recommended shows on Netflix, or when using a smartphone to avoid a traffic jam. That same artificial intelligence plays a vital role in market research, a role that will only continue to grow.

Artificial intelligence makes market research more efficient

Using sophisticated data gathering tools in the research phase of a campaign will significantly increase efficiency. For example, text analysis can be used to sift through responses; it goes beyond identifying keywords and phrases to measure magnitude and centrality, determine popularity, and examine the sentiment of a text.

In addition, allowing AI to assume certain responsibilities can drastically reduce both time and expense. Researchers assert a great deal of effort is used to compile reports —according to an article on MarTech, up to 80% of effort in market research is expended writing such reports, which can be extremely costly. Using artificial intelligence to draft even a portion of these reports not only saves money but allows humans to spend more time adding their own unique insights during the analysis of the data. Artificial Intelligence Image. Brain and Circuitry

Market research firms can increase their capacity through the use of artificial intelligence

With enhanced efficiency comes greater capacity to serve more customers. Using artificial intelligence to customize a market survey, rather than build one from scratch, generates enormous time savings in constructing questions and identifying respondents. The AI platform captures the data, making it available almost immediately, and the study can be examined as it progresses. With less time spent waiting for results to come in, a market research firm can devote more energy to aiding other customers.

As the use of artificial intelligence grows, it will take on automated tasks, reviewing data, crunching numbers and offering target respondents. In so doing, market researchers are free to consider the bigger picture, making connections from the resulting data, examining the results and offering informed, innovative ideas to clients.

AI can help improve the respondent experience

While using chatbots to conduct surveys is not yet commonplace, companies have implemented interactive surveys which, fueled by artificial intelligence, adapt their questions based on how the respondent answers. This prompts the individual taking the survey to remain engaged, reducing the risk that the resulting data is incomplete.

As AI becomes more proficient at speech recognition, and more and more individuals make use of voice recognition systems, it is likely that a substantial number of electronic surveys will be spoken rather than written. Nearly a third of researchers believe this will result in a better experience for respondents, and 26% think the resulting data will be of a higher quality. It is also likely that using artificial intelligence to conduct spoken surveys will capture information from those unwilling, or unable, to provide written responses.

For over 20 years, The Logit Group has sought to use industry-best technologies to collect accurate, consistent and valuable data for our clients. We offer online and offline services including; Global Panel Sourcing, B2C Phone Research, Mall Intercepts, In-depth interview (IDI) recruitment, Focus group recruitment, customized reporting, and more.

For a full list of our services, please visit our website here and to submit a bid request, please see our Bid Request form.

Happy new year 2019

New Year, New Blog

Welcome,

It seems like we just rung in the New Year and now we’re already well into February. While this is normally the time of the year where New Year Resolutions start to taper off and old habits creep back in, we wanted to make sure we keep growing and evolving, both as people and as a company.

When Logit started more than two decades ago, we could not imagine how our business would have to adapt and change for a world in 2019. From leaps and bounds in technology to the growth and influence of social media, there was no way to have envisioned how much our industry would change in a relatively short time.

That’s why in 2019 we’re shifting gears to not only focus on the “now,” but also to look ahead to the “emerging.” There has never been a more exciting time for market research. With advancements in technology, growing trends, and new ways to connect to people across the globe, it is more important than ever to stay ahead of the curve in our field; we owe it to both to our clients and to ourselves.parallax-contact

That is why I am excited to introduce the Logit Blog, our newest initiative where we can share information, discuss concepts, work towards best practice, and push the boundaries of the industry’s landscape. But, most importantly, our new blog will be a place to connect with our clients and colleagues over our shared interest in market research and data collection.

We don’t want to give too much away just yet, but we did want to give you a sneak peek of some of the content we will be discussing:

  • Evolutions in quantitative data methods
  • Programming and hosting challenges and solutions
  • Changes in population and generational demographics
  • The growing industry of Artificial Intelligence
  • The future of market research
  • Top trends and outdated methods
  • Emerging data markets
  • And much more

Our goal for 2019 is to learn more about the world around us and share those findings with you. And, of course, we would love to hear your ideas, questions, and interests. Feel free to connect and/or comment via the blog or through any of our social media accounts; we want to grow an inclusive MRX community.

Welcome to 2019 and welcome to the Logit Blog! Where we continue to be practitioners in the science and art of research (blog) execution.

Talk soon,

Sam Pisani
(on behalf of The Logit Group)

Sam Pisani Headshot. Logit Group Managing Partner