Artificial intelligence (AI) has become increasingly present in recent times and is being adopted as a tool to streamline processes and increase efficiency, especially within the marketing field. There has certainly been some worry about AI replacing jobs within some industries, the market research industry included. However, AI as a tool is perceived to be able to greatly benefit many businesses by increasing efficiency. Market research has long been seen as an intensive task for many companies, due to the lengthy process of data collection, analysis and reporting. With the need to make these processes more efficient, AI may just be the answer; the team at Spotlight Recruitment highlight how AI may make an impact on market research in the future.
Data collection
The data collection process has been simplified in recent times, with online surveys providing a quicker way to collect data, especially for more qualitative and more detailed responses which tend to lead to more fruitful consumer insights. According to Forbes, Generative AI (AI that can generate text, images, code or other types of content) can be used to assist the data collection process by facilitating rapid survey development. However, Generative AI is still in its early stages and there are still challenges and ethical practice to consider such as data privacy and security as well as AI bias.
Data analysis
Artificial Intelligence also enriches market research as it can quickly process large amounts of data and assists insight generation through finding key themes and terms from scripts within qualitative data. Therefore, AI provides key assistance with identifying valuable insights which can be translated into actionable objectives which would benefit any marketing department. Whilst data analysis is usually the most time-consuming element of market research, we can expect for these processes to be revolutionised in the near future due to the integration of AI.
Data visualisation and reporting
It is clear that Artificial Intelligence will enhance the market research process as a whole which also includes streamlining the data visualisation and reporting stage. AI and its current capabilities can easily present data in an effective way, which is perfect for producing charts, graphs or any other visual aids that assist with data-based storytelling.
Overall, AI is an exciting prospect within the market research industry, as there has been a long-standing struggle with lengthy and intensive data collection and analysis processes. The introduction of Artificial Intelligence into this industry means that vital market research reports can be produced faster and will therefore aid efficiency within such organisations.
Are you looking to work withint market research and utilise the newest technologies? The team at Spotlight Recruitment would be happy to help you land your dream role, so be sure to get in touch today.
Spotlight Recruitment have been hiring standout marketing, digital, design and communications candidates for clients in all sectors since 2008. Read our 5* Google reviews from candidates and clients to find out more how we work. If you would like to discuss hiring plans, new roles or need market-relevant insight, you can reach us on 020 3008 4254 or get in touch at info@spotlightrecruitment.com.
