Market Research Is Dead – Long Live Insights

Presented at IIEX LATAM on 26 September 2024 together with the Worldwide Independent Network of Market Research (WIN). We make the crucial point that in order to unlock the potential efficiency gains of Artificial Intelligence (AI), its use must be interleaved with human experts, thus leveraging the strengths of both. For example, while AI systems such as the one deployed by Inspirient for this evaluation excel at statistics and slide writing, the story-lining and contextualization for the client is still better left to the human researcher.

The full abstract of this talk is available at https://events.greenbook.org/iiex-latam/agenda/session/1396801 and a quick video overview of the underlying technology is available at https://www.inspirient.com/ai/

1. MARKET RESEARCH
IS DEAD-LONG
LIVE INSIGHTS
Leveraging AI for Quantitative Research
and Maximizing Researcher Efficiency

2. INTRODUCTION
Dr GeorgWittenburgUrpi Torrado

3. AIM OF THE PRESENTATION
THE EVOLUTION OF AI IN MARKET RESEARCH
•AI is shifting the focus from market
research to insight generation and
storytelling
•AI is disrupting our profession – the
ultimate outcome will be a total change
of the research profession
•Show how to transition from traditional
market research to actionable insights
through AI

4. WIN'S COLLABORATION WITH INSPIRIENT
39 countries
25,000 interviews
Multiple languages
Diverse contexts

5. ADVANTAGES OF A ‘WALLED GARDEN’
•Controlled data quality and precise training parameters, NOT the vast internet
•Practical use and proven results of the system
Survey
raw data
Analytical
results
Chat GPT
User

6. EFFICIENCY AND TIME SAVINGS
Database Data
processing
Create
PowerPoint
Script for data
processing
Tables User
analysis
Traditional method - 1 week

7. EFFICIENCY AND TIME SAVINGS
Database Data
processing
Create
PowerPoint
Script for data
processing
Tables User
analysis
Traditional method - 1 week
Upload
database
Select focus
for analysis
PowerPoint output
and tables
Review
of results
Deeper user
analysis
Inspirient / WIN - 30 minutes

8. EFFICIENCY AND
DEEPER ANALYSIS

9. “Speeding up the analysis and
charting process to give us time
to uncover the real story.”
Richard Colwell, RedC Research
“Inspirient is helping us in quality control
and having a full view of analysis of our
survey in less than 5mins..”
Xavier Depouilly, Indochina Research

10. IMPACT
Time
Business
relevance
of insight
Not viable
Not feasible
Months Minutes
Business
insights
Marginally relevant
Highly relevant

11. OVERCOMING DASHBOARD LIMITATIONS
The streetlight effect an observational bias that occurs when
people only search for something where it easiest to look.

12. OPERATES SEAMLESSLY GLOBALLY

13. HOW BEST TO USE BOTH?
Data analysis Uncovering story Preparing the StoryFinalising the StoryContent for ClientsData sorting
AI
AI system very quickly
took raw data and
produced around 30
slides of findings
Human
Humans can go further
and get deeper findings
Both
AI wasn’t trained to
classify label changes
across years
Human
Telling the story is often
better done more
qualitatively, leaning on
data uncovered by AI
AI
AI can analyze and
create a summary
with the main findings
Human
Creating reports for
clients was much
easier using the
human story rather
than the AI

14. RECAP AND FINAL THOUGHTS
On-time and
efficient
Week-long analyses can now
be done in minutes – never
miss a fleeting window of
opportunity.
Understandable
and auditable
Understand each insight
through audit-proof paper
trails detailing each step of
the reasoning process.
Dependable and
always On
Our AI doesn’t stop to eat or
sleep, and its performance
never falters but only gets
better with time.
Unbiased and
complete
Ask all possible questions to
identify opportunities and
risks that would be missed
by manual analysis alone.

15. FUTURE OF MARKET RESEARCH
Embracing AI to transform traditional market research
AI not replacing jobs but augmenting roles and tasks
AI = added value for researchers

16. THANK YOU
+ Q&A