12 Feb, 2024
The collapse of impulse buying, and what to do about it.Read More
Alangkan Plangsastra & team NOVA
15 Mar, 2023 |
In early February, MMR’s APAC team had the amazing opportunity to attend the IIEX APAC Conference in Bangkok where market research professionals from around the world gathered and shared their insights on new trends within the industry.
Here are our 4 key learnings:
1. EMBRACE AI
Rather than replacing human expertise, AI should be seen as an advisor to research. By leveraging AI, professionals can analyze and interpret data more efficiently and accurately, allowing them to gain deeper insights, and enabling researchers to focus on strategic thinking, problem-solving, and innovation. AI can serve as a helpful tool in the research process, though it is important not to be considered a panacea or without risk.
2. DRIVE PERSONALISATION
There is the stronger initiative to solve consumers’ problems and cater to their needs. AI is becoming increasingly important in driving personalization, as it enables companies to analyze vast amounts of data to create tailored experiences for individual customers. By leveraging AI technology, businesses can gain a deeper understanding of their customers' preferences and behaviors, allowing them to provide highly personalized products and services.
3. PRIORITISE ENGAGEMENT
Your consumers are your insight, so consideration of their experience should be prioritized. The traditional approach of inundating participants with an abundance of questions risks boredom and fatigue. Research should be treated as an enjoyable activity, encouraging more accurate and detailed insights. It’s a win-win situation!
4. LEVERAGE SECONDARY RESEARCH
With a surplus in the availability of public information, there’s always an opportunity to utilize secondary data to support your primary research objectives. Government, Economic or Social data can help frame where the primary research should focus on prior to it starting, though make sure you understand the limitations associated with your secondary data of choice.
"It is truly enlightening to listen to people from diverse industries, each with their unique background and knowledge frame problems and collaborate to find solutions. They share a range of methods, for example from cutting-edge technologies like AI, VR, and neuroscience to more straightforward approaches such as questionnaire design, design thinking, and agile methodologies, all aimed at achieving positive change."
Kitti Sae-Ya, Statistician
“It was great to see so many industry thought leaders meeting in person again. The presentations were thought provoking and demonstrated how much the industry is evolving with the use of automation, generative AI and ways of integrating multiple data sources. Reassuringly we did not feel behind the curve as we are using many of these approaches, but things are moving quickly and it shows we need to stay alert to everything new that is happening in the industry.”
Mark Sismey, Managing Director APAC