3 market research trends of 2021

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Today’s market research is a changing industry that needs constant monitoring to keep up with the times. In this post we mention three trends that we will face in the coming year.

So far this year, we have seen how telecommunications manufacturers have made changes to their devices to adapt to the 5G network. A network that promises faster browsing for cellular users. This impacts how consumers create data daily. In addition to the data produced through cell phones, the 5G network will also be of great help with the IoT. It will facilitate the use of autonomous vehicles, or the development of smart cities.

Market research enters these futuristic cities with the ability to obtain data from experiences, with devices that are used in the routine, such as automobiles or household appliances. Since each of these devices are part of the gateway to data about consumer behavior.

  1. Analytics platform
    In the cloud, data centralization, and real time data are some of the strongest trends when it comes to analytics platforms. Flexibility, scalability, and low costs are characteristics that make cloud data a trend. Companies can focus on the quality of the data, while companies like Amazon take care of the structure.
    When we mention data centralization, we say goodbye to silos. It used to be that different departments within a company would build their own data warehouses, in order to cover specific needs of the area. But the centralization of data allows different users to publish data and for it to be reused by others. Finally, real-time data. It is no longer enough to use data from last year, or last month. In fact, there are situations where decisions made with data from 24 hours before are no longer sufficient. This is where the real-time data trend comes in, which represents a challenge because it requires software that has the capacity to process large amounts of data in real time.

3. AI-powered social media listening
The combination of data analysis with artificial intelligence and social media gives us the ability to measure customer sentiment and conduct audience research. This technology analyzes, through text, images and videos, what consumers are saying about a product, and finds out how consumer experiences vary across different regions.
With such rapid technological development, it is almost impossible to keep track of all innovations. What we do know is that as the market research industry evolves, technology will continue to drive innovation in the way we think about methodology and work