Efficient and intelligent: how AI is changing market research

Artificial intelligence (AI) is fundamentally transforming market research. The reason: with its help, decision-making processes can be accelerated and deeper insights can be gained from data. Here you can read how AI is already revolutionizing market research. Be inspired and find out how innovative approaches can help your company remain future-proof and competitive.

Automate routine tasks

AI is increasingly taking on tasks that were previously time-consuming and repetitive in market research. For example, data can be cleansed with the help of AI. In concrete terms, this means that AI recognizes and corrects incorrect entries, fills in gaps and automatically improves data quality. Reporting is also revolutionized with the help of AI. Instead of spending hours editing tables, market researchers can quickly create AI-supported reports that graphically present important findings and supplement them with specific recommendations for action.

For teams, this means saving time, which opens up space for other work. Time that these teams can use to concentrate on strategic tasks, analyze trends or develop innovative methods.

Gain new insights quickly

Synthetic data are artificially generated data sets that mimic real data. They do not contain any personal information, but are based on algorithms that simulate real patterns. Without resorting to real customer data, market researchers can use synthetic data to

• Test scenarios,
• analyze new target groups or
• Test hypotheses.

Working with AI-generated synthetic data sets can also make sense for data protection reasons. The reason: since synthetic data does not contain any personal information, it minimizes the risk of data breaches.

The Persona Institute goes one step further with its "Talk to Personas" feature. With the help of an AI-supported chat bot, you can communicate with your personas in real time. This feature simulates authentic dialogs with B2C, B2B or candidate personas and provides valuable insights into their mindset and needs.

Read more: How you can use your buyer persona as a voice assistant

Integrating qualitative research results

Recognize patterns and summarize similar answers: Digital tools based on AI make it possible to use qualitative data in market research more efficiently than before. They can be used to automatically analyze interviews, focus groups or surveys in order to filter out emotions, topics or opinions.

One example is the AI-supported analysis of interviews. AI tools can not only identify what is said, but also how it is said - emotions, tone of voice and implicit messages become tangible. The advantage is obvious: companies save time and resources and still get a detailed picture of their target groups.

Precisely predicting trends

AI can analyze huge amounts of data in market research in order to identify trends and developments at an early stage. It links historical data with current information and derives well-founded forecasts from this. This enables companies to predict how markets will develop or how the purchasing behavior of their target group will change.

A concrete example: AI can recognize that demand for a product in a certain region regularly increases at a certain time. Companies can use this insight to optimize stock levels or launch targeted advertising campaigns.

These precise predictions make it easier to make business decisions based on solid data. Companies thus minimize risks, react more quickly to market changes and secure a competitive advantage.

Strengthen customer loyalty

AI can be used to create personalized user experiences that strengthen customer loyalty. How does this work? By analyzing user behavior and preferences in real time and offering tailored content or recommendations. Companies benefit from this type of personalization in two ways: customer loyalty is strengthened and the likelihood of repeat purchases increases.

One example is the dynamic adaptation of online stores: Based on the user's previous behavior, the website displays targeted products that might interest them while they are shopping. This personalized approach conveys the feeling of being understood.

Scaling market research

Another example of how you can optimize your market research with the help of AI: AI-powered technologies make it possible to conduct market research on a large scale without losing efficiency. Automated systems collect data from various sources, analyze it in real time and deliver results that can be directly incorporated into decision-making processes.

One example of this is the implementation of global studies. As AI can analyze data from different countries simultaneously and process results in the shortest possible time, a direct comparison between markets is possible - without having to wait months for results. This makes it easier to make well-founded decisions and react more quickly to changes - a decisive advantage on the market.

Your optimized market research: With the Persona Institute to deeper insights

With innovative AI-supported solutions and data-based personas, the Persona Institute supports you in making your market research more efficient and targeted. Contact us and find out more about our services - for deeper insights into your target groups!