Predicting the future is always prone to errors of guesswork and interpretation, a fickle science indeed. However, in business or specifically in market research, it is important to predict and analyse the future to reap the benefit. As we have already completed the first half of the year, it is not very difficult to predict the top market research trends that are going to dominate the latter part of the year.
The Evolution of MVP:
Popularized by Eric Ries, a consultant and writer on start-ups, the MVP or minimal viable product, already a known term is anticipated to be the tipping point for this year as more companies are expecting to adopt MVP approach to share their success stories.
Data is everything:
‘BIG DATA’ has been a trend for a couple of years though; many organizations are yet to use this successfully. As GDPR has made its way already, businesses now have to take advantages of ‘Big data’. However, most businesses have a data tool, but they are not using it effectively. More investments are expected as brands will try to use data to greater effect, to know their customer better. In 20018,businesses of all shapes and sizes will be seen turning data insight into more meaningful experiences with customers.
Automation in Market Research:
A rise of automation in market research has been noticed. To automate a rising number of processes in the marketing world, machines are being used. Emerging technologies including programmatic ad buying, artificial intelligence, machine learning, process automation, NLP, chatbots are significantly changing the scenario. These are bringing new efficiencies in ways of working, a positive sign and certainly, this has become a top market research trend in current year.
Blockchain-based research companies:
While automation has been in focus in the last couple of years, Blockchain was the undisputed leader last year and surprisingly there is no sign of slowing down the trend in this year. The number of companies using blockchain-based solutions for all purposes will start to emerge. Some early experiments with blockchain in market research are expected.
DIY to become mainstream:
DIY research growth is linked with our 2018 trend in market research. In-house insights teams will grow and start to assume more responsibilities in deploying and analysing studies; be it quick and fast consumer surveys across 2018.
We, at Market Quotient are following these Top Market Research Company trends to serve our clients better with more accurate information, which will help them grow globally.
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