Ken Research Pvt Ltd, having its footprints in India is reducing the
geographical distance by serving its expert research reports to clients
worldwide. Company has marked itself a distinct publisher by optimally
utilizing technology in research space and working on building up unmatched
technologically equipped intelligence reports which helps to understand market
performance on various parameters.
Market Research
Organisations is expected to witness more about Automation, AI and Machine learning
in the near future. This
industry will witness Block chain entering the lexicon of market
research. Block chain term will be first heard in the market research
industry in the year 2018. A lot of capital is invested in the block chain business
and new businesses are sure to emerge shortly. The need for data privacy is
driving interest in block chain and will lead to withdrawal of the middle men
in the traditional market research service providers within the industry.
It was observed that
market research companies will decide to push
a very specific consulting offer. Almost all the clients will need assistance
to manage the new fundamental changes while market research industry will
become more agile along with ever increasing amounts of data.
Market research industry is very alert and supports the lifecycle
of development within the industry. Businesses just don’t need information when
a new product is a launched but also after development so that consumer needs
are considered in every aspect of new products, services, technology, websites (UX) and marketing
campaigns. This trend requires insight along with the development through
the use of research and testing iterations. The year 2018 will witness
increasing number of companies realise and articulate the need for market
research.
Almost all the businesses will ask for speed
and the need for speed will increase dramatically from now
on. Market research on demand is not just about being fast or more agile but
providing the market research data to the population who can make decisions
based on it. The next few years we may witness the beginning of a
democratisation of the market research industry. This industry will no longer
hold its reports from agencies or teams, but by stakeholders themselves.
Clients will increasingly expect to view the outputs of customer
feedback and how different data systems are connected and integrated. In trend
will challenge the data privacy standards set out by the Research Society. It
is expected that research will move into the marketing departments of brands
and away from the marketing research organisations due to the rapid growth in
big-data analysis. All the consultancies and firms will treat the consumer’s
data with respect which is a positive boost for market research. Few areas in
the market research industry will be greatly challenged, but others, such as
provision, creation of opted-in research communities and panels, will likely
flourish.
The overall evolution in the market research industry is a progression
towards ‘action -orientated’ research with feedback, analysis and
interpretation that is much more closely aligned to business decisions. Market
research is becoming much more real-time driven by social media and smart
phones. The future market research industry will help people to make decisions.
Usually, people are asked to punch in data by asking questions and the way of
answering will be slightly different from now on. One can get data through a
survey and also through search and as well as social media.
Computer
intelligence is advancing rapidly and the market research
industry and computers will be twice as intelligent as humans over the coming
years. Computers will be able to understand what people think about a brand
just by observing them through their online behaviour. At the other end,
complicated discreet choice modelling (which needs very good statisticians) is
done at the press of a button. Five years from now, the market research industry would increase its spending on better intelligence in order to make smarter and more confident
decisions; increase the adoption of automation tools to become more effective
and efficient in their jobs; evolution in research departments which look a lot
more like strategic planning functions than the marketing research departments;
and the industry would focus on qualitative methods (Qual). The future of
market research is brighter while the face of disruption requires learning new
skills, building influence in the company and embracing new technologies.
To know more
on research methodology and other research report related information, refer to
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Contact Us:
Ken Research
Ankur Gupta, Head Marketing &
Communications
+91-124-4230204
