Brand Update: Latest Trends in Research

Brand Update: Latest Trends in Research

Last week at TMRE@Home, our very own Chief Client Officer, Raj Manocha, delved into how market research (MR) is transforming amidst the rapid advancements in AI and other technologies. As technology evolves more and more rapidly, the impact on market research is undeniable and inescapable. In the next 20 years, experts anticipate a significant transformation in the MR field, driven by advancements in artificial intelligence (AI) and other cutting-edge technologies.

This Q&A session explores these exciting developments, offering insights into where MR could be headed and highlighting essential skills for market researchers in this tech-driven landscape.

With AI and other technologies influencing how MR moves forward, where will we be 20 years from now?

This is a great question and I really do think the MR profession will be more overlapped with marketing and technology than it is now. I think the idea will most likely be a professional who covers the entire customer journey more but also guides the tech to do the work. So, you’d be controlling what information you receive, how to utilize it, how to take action in the marketplace, and how to keep evolving the journey to connect data and results.

What would be your top three recommendations to make a business case for greater AI adoption in a company?

I would say:

  1. Scalability of Resources – you’d require fewer resources to conduct research and allow your team to focus on outcomes versus the process or execution of research.
  2. Data Efficiency – Think of all the data you currently have and will continue to amass. AI will parse through that at greater speeds and potentially create more correlations than humans can, and at a much faster pace.
  3. Business Connectivity – All functions across the business will have some sort of AI technology built into their processes, so this isn’t a question of if, but when. The earlier you start to create these AI processes, to figure out what is and isn’t working, the more likely you’ll be in a place of equal footing with those functions that have already started.

Given these trends, what is the most valuable skill a market researcher can focus on developing?

I think it’s the ability to build new skills – this includes focusing on the latest technologies, making sure your ability to build business cases is sound, presenting stories that always come back to how to help move the business move forward, and how to ensure research always feels like the shiny new toy within your business. Not only do you have to arm yourself with new skills as the industry transforms, but it’s also essential to ensure your company knows your department isn’t the research function of the past. That will be the key to ensuring we can live with the trends vs. them passing us by.

For an even deeper dive into Raj Manocha’s insights on the future of market research and AI, we invite you to watch the full on-demand session available now. Gain comprehensive knowledge directly from the expert and discover more about implementing these strategies within your own organization.

To learn how Sago can help support you and your research needs, get in touch now.

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