How AI is helpful in Marketing Research

Aug 6, 2018 | 1914 Views

AI has gained its popularity in many industries and in various fields as well. It is also going to impact market research and its audience. AI also helps marketers to gain insights about the data that has been already collected. Starting from very beginning and simpler server log then stepping ahead towards more complex analytics software, then into big data-driven business intelligence platforms to gather data, process and to analyze them.

What does this mean actually for marketer? Earlier Google Analytics alone might have felt state of the art, and a few years ago, having your unified data sources presented in compelling reports through Tableau was amazing. Today, however, it makes more and more sense to use sophisticated data-gathering tools earlier in the process. This means in the research phase.

AI is growing at the fastest pace and it is important in the research phase that large companies are making huge investments in it. For instance, Google recently renamed its research division to Google AI. That's a pretty big bet on artificial intelligence. Now humans are completely replacing with AI. This is the major debating issue that the AI is replacing humans from the workplace. There are numerous ways that AI helps in research work and do perform better than humans. 

AI Increases Efficiency:
The very first benefit that AI increases efficiency it accomplishes the task in minimum time while humans will take too much time to perform the same task. It also saves time. While it takes a human to read a research report in order to truly understand it, does it require a human to write all of the words?

According to MarTech article, Fred Barber of response now, claimed that nearly 80% of the effort spent doing market research is used in compiling and writing the research reports. Acknowledging this, finding ways to automate portions of the compilation and "writing" of reports can make a huge difference in time spent. And what better way to spend that time than in something humans excel at (over computers) the analysis of the data and improvisation and creativity that people are simply best-suited for.

Reduces Biasness:
Second, AI reduces biasness because humans have sentiments and robots don't so the results gained via artificial intelligence are not biased. The first kind of bias is in the researcher, the focus group facilitator or, in general, the person conducting the research. Bias can result from slight facial movements or emphasis on and usage of certain words or phrases instead of others and even attention paid to certain details over others. All of this adds up to conscious or subconscious bias being present, even in a small capacity.

The second kind of bias is in the person being researched. Our memories have a funny way of presenting some things clearer than others when we recall them. But a piece of software designed to gather data about user behavior and actions remembers all points equally.
Hence, by utilizing artificial intelligence tools, researchers can get more accurate and biased free results. This is because the methods used to do the research are based on real human interactions like studying their behavior through retail environment, their usage of a mobile app and so on. 

AI Helps in Recruiting:
Artificial Intelligence was also earlier in the process. But now it is also helpful in the recruitment process.  Instead of poring over potential research it identifies the best suitable candidate so we can also let AI to perform this task so that we can better shortlist the candidates from the wide pool.
Although AI tools can help in other areas as well, particularly when they have the ability to learn and grow over time. This allows doing a better job for our clients because we can focus on other important task, time and energy on the parts of the process that humans perform in a better way.

Thus, artificial intelligence is growing at the fastest pace, and it is being used in all the industries and in our day to day activities as well. So leveraging AI in market research is very impactful and although its worthy. 

Source: HOB