Top 6 Insights from Panel Discussion about Technology Impact on Market Research

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Last September I had a privilege to moderate a fascinating panel discussion on the topic: “A faster, cheaper and easier future for Market Research- or not?” in the frames of the Conference: “Market Research in the Mobile World: Europe 2016”.

In the panel were presented outstanding Market Research professionals: Ank Van Ophoven from Philips Lighting, Frank de Boer from KLM and Jocob Wieland from BBC.

I should admit that it was a great pleasure for me to discuss this topic on the stage of Millenium Mayfair London. Despite the fact that we touched different aspects of the impact of technologies on the Market Research, I still managed to make some key take away notes.

  1. We as market research professionals definitely shouldn’t be threatened by the modern technologies, in fact we can benefit from them a lot!
  2. Market researchers need to develop a set of skills to be able to leverage these technologies – like using data from connected devices and social media. However, it doesn’t mean that we as professionals are required to have an absolutely different profile in terms of the technical skills.
  3. Bringing insights into action is still a core of our job and technologies just bring us an access to a broader spectrum of information that can be leveraged for insights generation.
  4. Modern data is used differently in different industries that is also linked with an access to different type of data. However, there is one thing common- we as professionals should look and benefit from sources of cheap and fast data.
  5. Traditional market research techniques aren’t obsolete but having at our disposal a wider diversity of the data we could get deeper insights. Traditional techniques stay in the industry but while even 5 years ago they were a core for insights generation now they areĀ just one of many.
  6. A core challenge for market research professionals continues to be a combination of various data types to create holistic insights.

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