Digitalizing the MR Industry –
Predictions for 2018 and Beyond
Over the next couple of years, the market research industry will undergo a significant restructuring phase.
New actors in the industry, that offer end-to-end technology solutions, will win ground for those types of research methods that can easily be simplified and streamlined and, that don’t require devoted consultancy services. To stay relevant, Market Research agencies will need to continue optimizing their offerings by further integrating modern specialist technology platforms with their niche consultancy expertise.
The next wave of the digitalization has started with a new group of players coming on the scene. These firms will have a mix of talent specialized consulting and communications expertise with highly skilled technology proficiency. These hybrid organizations will “live close” to an ever-evolving technology landscape, and have a clear vision of how to use technology to automate production processes while enabling impactful time-to-insight generation. In 5 years, AI will be maturing and ready, to enter the MR segment. AI will further automate questionnaire programming and report generation, providing consumers of information better ways to grasp the insights and make conclusions. Understanding this 5 to 10-year perspective will be an important component for Market Research organizations planning their long term digital strategy.
On the corporate enterprise side, stakeholders will benefit from modern technology platforms that consolidate and structure Market Research data in ways that make these data more freely available to their organizations in an easy-to-understand and readily actionable format. We will see a resurgence of feedback management and closed loop processes in the customer experience market. Lastly, we will see an even greater use of these important tools within all areas of market research, enabling organizations to act faster and make smarter decisions on MR data.
These predictions were submitted to RFL Communications and were published in the 23rd Annual RBR Predictions Issue. Copyright, RFL Communications, 2017. Please visit RFLOnline.com to learn more about Research Business Report, RFL’s two other market research newsletters and the daily Research Business DAILY Report news video.