How is AI reshaping the market research industry?

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AI (artificial intelligence) applied to market research is a trend this year and is intensifying. Applying this technology to market research allows companies to provide insights of greater value. In a recent interview with Radu Vrabie, he comments on the challenges and obstacles in the area of ​​e-commerce and how the application of AI could help.

AI in the surveys

As he mentioned, investing alone in acquiring traffic is not enough, the conversion rate should optimize. Is here when knowing consumer behavior and feedback becomes key. Therefore, any company that has an online presence implements some type of surveys in their marketing activities.

The surveys applied with AI will allow to analyze the answer to open questions, such as: “What do you like most about our website? “What do you like the least about our website? “Why do you almost not buy with us? The visitor of the page will have complete freedom in terms of possibilities of response. Their answers usually generates high-quality and unexpected information. You will be able to understand better your consumer needs and requirements. This means that, for example, you will have a more accurate and up-to-date understanding of why the shopping cart was abandoned. The AI ​​application will automatically highlight ideas and recommend actions to prevent individuals from leaving. It would also suggest customized actions to turn disgruntled customers into dedicated customers.

Benefits of AI

  • One of the most notorious is obtaining and analyzing Insights in less time.
  • It is intelligent. AI allows to disclose relevant information and group them even if the user has a new way of describing the product or service.
  • Knowing directly the feelings and thoughts of the consumer.
  • The possibility of making necessary changes more readily.
  • Knowing what new features to add in the new model, what new services to implement in your store, etc. Which will be projected to minimize costs and reduce errors.

 

References:

AI reshaping survey and market research