Technology has been constantly innovating and expanding the market of research technologies that are used for data gathering and analysis. There are many new technologies that are going to shape the future investments in technology.
Here’s a look at the trends in research technology that are going to shape its future:
Video analysis technology
So, the first and the most important Research Technology Trends that you can see in the future market research sector is the use of video analysis technology. Looking at the past five years, video consumption has blasted. It predicts that the future market will comprise 80% of the content and data collection. It will come through video. The major challenge is to decode video content in the business.
Ovation MR is a worldwide provider of 1st party data to people who seek solutions that need data for forming informed business decisions. This company is a leader in offering high-end B2B research and customer research, and authentic data across various industries throughout the globe.
Combining several data stores
The seamless integration of multiple data stores helps in the creation of a single consumer view. It is one of the trends that is going to shape the future of the market research technological sector. A business should invest in specific technologies that assist the integration of data to ensure that brands get a predominant view of the behaviour of customers.
Agile research helps the business to gain a specialized understanding of the experiences of people on a real-time basis, with brands, across their behaviours.
Blockchain is another important trend that you are likely to see in the future. Being one of the rapidly advancing and expanding technologies, blockchain is creating a buzz among panellists.
It is one of the important technologies that have maximum possibilities of expansion in the future. A blockchain is considered to be a series of digital “blocks”. These blocks contain several records of business transactions.
Each of these blocks gets connected to other differences that are present before and after it. Businesses need a variety of blockchain services and infrastructure to fulfil their needs for compliance, privacy and performance.
With an explosion of data throughout the market, most of the market research brands have more than adequate about their customers. This data is undecipherable, unattainable but data automation allows brands to accumulate process as well as store data in an effective manner.
Passive data collection
Passive data collection is another important trend in market research technology. It helps in tracking the behaviour of customers in the background. To have more data does not imply that you have the appropriate data.
It is necessary for the brands to focus on creating engagement in meaningful conversations of the customer to avoid informing business decisions on the basis of blind data points.
Market research technology is an important area that will see major enhancements in the future. All these emerging technology trends will take over the business world this year and in the coming years too.