The secret to faster market research: Automation

Staying informed on market trends and consumer behavior is crucial for any business. Market research is an essential tool that allows businesses to do just that — ultimately helping them to better understand their customers and make informed decisions. 

However, traditional research methods can be slow and resource-intensive. That’s where market research automation comes in, which offers a more efficient solution by using technology to simplify and speed up the research process. 

In this blog, I'll explore the basics of market research automation, its importance, and some of the top tools available to help your business gather and analyze data more effectively.

Market research automation is all about using technology to make the research process faster and easier. Instead of manually collecting and analyzing data, automation tools handle those tasks for you. This can include things like sending out surveys, gathering data from social media and even analyzing responses to find patterns or trends.

By automating these steps, companies can get insights more quickly and at a lower cost. Plus, it helps reduce human error and makes it easier to handle large amounts of data. However, it’s important to remember that while automation speeds things up, human judgment is still key in interpreting the results and making decisions.

In short, market research automation streamlines the way businesses gather and use data, making the process more efficient and scalable while still relying on expert insight.

Automation plays a crucial role in modern market research by simplifying the entire process, from data collection to analysis and reporting. Here’s how it works and why it’s so important:

1. Faster data collection

• How it works: Automation tools can gather data from various sources like surveys, social media and websites in real time. For example, a company can set up an automated system to collect customer feedback through online forms or scrape social media for brand mentions.

• Why it’s important: This speed allows businesses to respond to market changes quickly. Instead of waiting weeks or months for results, companies can get immediate insights and act on them, which is crucial in today’s fast-paced environment.

2. Efficient data analysis

• How it works: Automated systems can analyze large datasets quickly, identifying trends, patterns and key insights without the need for manual processing. AI and machine learning algorithms can even predict future trends based on historical data.

• Why it’s important: This level of analysis would be difficult and time-consuming for humans to perform, especially with large datasets. Automation ensures that insights are not only accurate but also delivered in a fraction of the time, enabling quicker decision-making.

3. Cost savings

• How it works: By automating repetitive tasks, companies can reduce the need for manual labor. Tools that automatically generate reports, visualize data or track responses eliminate the need for extensive human involvement.

• Why it’s important: Reducing manual work means lower costs. Businesses can allocate resources more efficiently, focusing on strategic decision-making rather than time-consuming data processing.

“AI is phenomenal at taking masses of unstructured data and summarizing it very well. So it’s super easy [for AI] to scroll through the tens of thousands of pieces of research we have and pull out some of the key insights to help you find what you’re looking for.” 

- Tony Costella, Global Consumer and Market Insights Director at Heineken

4. Scalability

• How it works: Automated systems can handle large-scale research projects that would be overwhelming for a human team. Whether it’s collecting feedback from thousands of customers or monitoring multiple online platforms, automation makes it possible.

• Why it’s important: As companies grow, so does the need for more extensive market research. Automation allows businesses to scale their research efforts without a proportional increase in time or costs.

5. Real-time insights

• How it works: Automation allows for continuous data collection and analysis, providing up-to-date insights. For example, a company might use automated tools to monitor customer sentiment in real-time during a product launch.

• Why it’s important: Having access to real-time data means businesses can pivot their strategies quickly if needed, staying ahead of competitors and meeting customer needs more effectively.

6. Improved accuracy

• How it works: Automated tools reduce the likelihood of human error, ensuring that data collection and analysis are consistent and accurate. For instance, algorithms can process data without the biases or mistakes that might occur with manual analysis.

• Why it’s important: Accuracy is key in market research because decisions are based on the insights gained. Automation ensures that the data driving these decisions is reliable.

Automation is transforming market research by making it faster, more efficient and scalable. It enables companies to gain real-time insights, reduce costs and improve accuracy, all of which are essential in a competitive business environment. While automation handles the heavy lifting, human expertise remains crucial for interpreting results and making strategic decisions. This combination of technology and human insight is what makes market research automation so powerful and important.

“The perfect model is always the hybrid model. Use the machines for the right jobs and use the humans for the right jobs. It’s that beautiful blend of machines and humans and understanding where you may be able to automate and save time, but also where it's important to use deep empathy and insights that you can feel…is where to err on more human than machine.” 

- Nic Umana, Global Agile Innovation Human Intelligence Director at Mars

There are now software tools available that can automate the entire market research process. These platforms can collect data, analyze it and even generate reports with little to no manual input. They’re designed to make market research faster, more efficient and accessible, even for teams without extensive research experience.

How market research software works

• Data collection: The software can automatically gather data from multiple sources, such as surveys, social media, customer reviews and even competitor websites.

• Analysis: It then processes this data, identifying trends, patterns and key insights using AI and machine learning algorithms.

• Reporting: Finally, the software generates reports, visualizes data and sometimes even offers actionable recommendations based on the findings.

Criteria to evaluate good market research software

When choosing market research software, there are several important factors to consider:

1. Ease of use:

   • Why it matters: The software should be user-friendly, with an intuitive interface that doesn’t require extensive training. If it's too complex, it could slow down your research process rather than speeding it up.

   • What to look for: Look for drag-and-drop features, customizable templates and straightforward navigation.

2. Data sources and integration:

   • Why it matters: Good software should be able to pull data from a wide range of sources, including social media platforms, survey tools, CRM systems and public databases.

   • What to look for: Check if the software integrates with your existing tools and if it supports the data sources you need.

3. Customization and flexibility:

   • Why it matters: Every business has unique needs, so the software should allow for customization. Whether it’s tailoring surveys, adjusting analytics parameters or customizing reports, flexibility is key.

   • What to look for: Features that allow you to modify the software to fit your specific research goals, such as custom dashboards, survey templates and analytics settings.

4. Advanced analytics and AI capabilities:

   • Why it matters: The strength of the software lies in its ability to analyze data accurately and provide deep insights. AI-powered tools can identify trends, forecast outcomes and even offer recommendations based on your data.

   • What to look for: Look for features like predictive analytics, sentiment analysis, and machine learning capabilities that go beyond basic data crunching.

5. Reporting and visualization:

   • Why it matters: Clear, actionable reports are essential for communicating findings to stakeholders. Good software should make it easy to visualize data in charts, graphs and dashboards.

   • What to look for: Automated report generation, customizable visualizations and the ability to share reports easily with your team or clients.

6. Scalability:

   • Why it matters: As your business grows, so will your research needs. You’ll want software that can handle an increasing volume of data and more complex research projects.

   • What to look for: Ensure that the software can scale with your business and support larger datasets and more users as needed.

7. Cost and value:

   • Why it matters: Budget is always a consideration. The software should offer good value for its features and capabilities.

   • What to look for: Compare the pricing models and ensure that the features you’re getting justify the cost. Also, consider whether the software offers flexible pricing plans, such as pay-as-you-go or tiered subscriptions.

8. Customer support and resources:

   • Why it matters: Even the best software can have a learning curve or technical issues. Good customer support ensures you can resolve problems quickly and get the most out of the software.

   • What to look for: Check if the software provider offers robust customer support, including live chat, phone support and comprehensive help documentation or training resources.

9. Data security and compliance:

   • Why it matters: Handling sensitive data, especially customer information, requires robust security measures. The software should comply with data protection regulations, such as GDPR or CCPA.

   • What to look for: Ensure the software has strong encryption, secure data storage and compliance with relevant regulations.

Automated market research software can significantly streamline your research process, saving time and resources while delivering valuable insights. When choosing the right software, focus on factors like ease of use, integration capabilities, advanced analytics and strong support. By evaluating these criteria, you can select a tool that not only meets your current needs but also grows with your business.

Here’s a list of some of the top market research automation tools:  

1. Zappi

Zappi is a market research automation platform that focuses on helping brands test ideas, ads and concepts directly with consumers and creates learnings over time. It integrates market research directly into the product development process, allowing for fast consumer insights.

In addition to its practical and comprehensive platform features, Zappi’s quantitative research is developed in collaboration with top brands and reflects the latest advancements in the field. This approach ensures that Zappi provides innovative solutions across various industries, including consumer packaged goods, quick service restaurants, finance and technology. 

Key features:

• Automated concept and ad testing tools

• AI-powered insights and predictive analytics

• Pre-built research templates designed by experts

• Benchmarking against industry data to contextualize results

• Collaboration features for teams to work on research projects together

Best for: Brands looking to accelerate their ad or product development and marketing efforts by integrating real-time consumer feedback into the process.

Reach out to learn how Zappi can help you create better ads and products people love.

2. Suzy

Suzy is a market research platform designed to provide quick, actionable insights by connecting businesses directly with consumers. It offers a straightforward approach to gathering feedback and making data-driven decisions.

Key features:

• Real-time access to a diverse consumer panel

• Simple survey creation and rapid feedback collection

• Tools for analyzing and visualizing survey results

• Flexibility in targeting specific audience segments

Best for: Businesses looking for fast, actionable insights with a focus on real-time consumer feedback and ease of use.

3. Voxpopme

Voxpopme specializes in video-based feedback, allowing companies to capture, analyze, and share video responses from customers. It’s a unique tool that adds a personal touch to market research by giving consumers a voice and face.

Key features:

• Automated video feedback collection from customers

• AI-powered analysis to transcribe and categorize video content

• Integration with other research tools like Qualtrics and SurveyMonkey

• Video highlight reels for sharing key insights with stakeholders

Best for: Companies looking to add qualitative, video-based insights to their market research efforts, providing a deeper, more human understanding of customer opinions.

Market research automation is essential for companies that want to stay competitive and responsive to changing market conditions. By using advanced software tools, businesses can streamline the entire research process, from data collection and analysis to reporting and decision-making.

The right market research software can save time, reduce costs and provide more accurate data, enabling businesses to make informed, data-driven decisions.

To learn more about how Zappi can help you automate your research, reach out to us.