Hybrid Market Research Powered by Artificial Intelligence

hello and thank you for your time today were gonna talk about hybrid market research powered by artificial intelligence and specifically how machine learning and natural language processing make chat sessions with large respondent samples possible productive and powerful artificial intelligence machine learning help us break through some of the historical challenges of traditional market research methodologies if quant tells you what and qualitative tells you why adding AI to the mix gives us the best of both combining the depth of qualitative understanding with statistically significant quantitative insights this accelerates the concept development process by both identifying and.

optimizing the most promising concepts in real-time currently its a two-step process there are focus groups which are exploratory take three to four weeks to set up execute report often involve small numbers in travel analysis time and likely youll want multiple groups in multiple geographies to get national representation quantitative can take two to six weeks depending on scope and provides statistically significant insights but doesnt offer the deep qualitative understanding focus groups with an AI approach were able to get the best of both worlds quantitative insights gathered based on.

open-ended responses to qualitative questions giving true power to those quantitative insights by providing extraordinary context heres how it works one moderator poses questions to hundreds of people at one time each participant has a set time to respond which we control their response may take 30 seconds to 45 seconds to submit to the AI once they submit it the AI processes all of those open-ended responses analyzes them codes them and then starts presenting them back to respondents in multiple pairs this allows the machine learning to start gathering information on which verbatim.

responses best represent the consensus view of the population and the most popular view of the common population this is similar to a conjoint exercise the AI analyzes and reports the answers in real-time and the texture of the open-ended responses help explain the why behind the result we believe that this technology really offers tremendous strength in three different areas the ability to id8 and brainstorm with a population to gain feedback on concepts creative and packaging and to discover category insights about how people behave and what things they prioritize.

when respondents come into the session they are given a quick segmentation screener which the marketer can use to filter the data while the session is live respondents participate in the chat based focus group and at the conclusion of each time period for each question quantitative insights to the qualitative questions are delivered instantaneously at the heart of this AI technology is the open-ended question where trip is participants can respond with freeform text which the machine learning and natural language processing can then.

code instantly and start feeding back to all of the participants in pairs in a voting process similar to a conjoint exercise of course we can also ask poll questions which are then able to be filtered responses are able to be filtered in real-time while the study in session are in process for each set of responses you instantly get key insights through an interactive data analysis this includes a ranked tab which offers a quick overview of how participants.

rank each response based on popularity and consensus a filter tab allows you to use not only questions asked in the segmentation screener but also poll questions to filter combinations of participants and see which answers rise to the top for different cohorts the segment tab automatically clusters participants into demographic or attitudinal segments helping us understand if there are different subgroups within the population and what elements are driving them the most no tool is perfect but this one comes close there’s terrific applications for exploration of category and brynn insights its power with concept types.

and testing is immediate and obvious particularly with creative elements positioning and packaging the power of having qualitative supporting insights associated with quantitative results cannot be understated the speed and clarity of the results is perhaps the thing that astonishes clients the most at the end of the one-hour session they feel they have absolute certainty into what they should do next and what the data is telling them and we also have the freedom to pulp probe and flip the.

script if were getting answers that are different than what we might expect and get those additional insights in real time the challenging parts it requires a lot of consumers to attend 300 people need to be recruited to get 100 people to show and the qualitative incentives would call quant numbers usually its 30 to 40 dollars for each 30-minute excuse me each 60-minute participant run up the.

incentive bill quite quickly artificial intelligence is a game changer and 20 years of marketing research this is the most powerful and promising tool weve seen its not a magic bullet but for concept creative package testing it offers the best of both qualitative and quantitative worlds its not cheap but it is affordable for small and mid-sized brands do the value it offers of being one study versus multiple studies to get to the same place studies can be completed in as little as two weeks and.

the initial reporting is instantaneous your biggest questions are likely answered in full and with astonishing clarity at the conclusion of the one-hour session additional reporting follows as we dig into the data and see what other insights might be gleaned but most of what you need to know is known at the end of that hour thank you for.

your time Im Charles Miller president and CEO of persuadable research corporation you can reach us at WWE mm or you can reach me at C Miller at persuadable Scott we look forward to talking with you and helping you drive growth for your brand.