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Market Research Industry Future

  • By admin
  • July 3, 2015
  • 19 Views

The furious rush in new technologies can make us expect a massive economic transformation in the coming years. Market research industry future is widely exposed to digital market. In terms of economic mobility, research and consulting industries are surveyed to be at the bottom of the list, compared to the other industries. The future is not far and there is no place to escape than to dive along with this change. It is very difficult for the market research industry to get adjusted to the change since the traditional surveys dominates still.

The industry is expected to take 4 strategic decisions to cope with the other industries.

A move away from traditional approach:
The market research industry has to put its’ full resource into moving from traditional surveys and Q&A to a real technique for next generation, which would be technically strong, a unique methodology providing a proper insight. This would not just help the clients, but the client as well to have a real secured future competing with the identical industries.
Apart from that industries are working on digital technology in a lesser phase nut this would be fulfilled in no time. The following talks about the digital technology that industries are working on in terms of their promotion or research work.

TECHNIQUES OF FUTURE MEDIUM IN USE UNDER CONSIDERATION
Social Media Analytics 47% 35%
Online Communication 44% 38%
Mobile Surveys 28% 46%
Big Data Analytics 40% 35%

 

An accurate Data, may it be small or big:
The rate of collecting data has improved 100 times more than what it was 10 years back. This data has to have a fruitful future ie, the data should have an insight which would provide an information about the search. Since we are flooded with data, defining data insight would derive us to a better world of knowledge. Google Consumer Survey

Change the change:
The market research talk about change but in reality it has hardly done any change. The traditional market research is actually tending toward a functional IT firm which is financially and strategically well defined. This definite change is diving in no time and so market research companies should be innovating their technologies. This can really market research industry, building a Bandwagon Effect:

Consumer Collaboration:
With consumers having an increasing access to the digital world, the power over online, social and mobile technologies has lifted consumers’ desire, need, and enthusiasm to collaborate with brands. This has given a chance to the market research industries to know the consumer insight and give a better knowledge to the clients. Various models and techniques can give a highly effective presentations and reports that suffice the requirements of various clients

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