This Week in Research {twir}

Welcome to twir — the weekly show delivering AI-powered summaries of market research news and insights. Each week, mrxCore by Emporia scans and ingests media from top blogs, podcasts, articles, and reports, distilling the key trends shaping the industry. Best of all, twir episodes learn and get smarter over time, building on an archive of past news and trends.

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Episode 2 Summary:

• Market Research Trends in a Changing Landscape: The sources emphasize significant shifts in market research, particularly for reaching professionals in the B2B space.  Traditional methods are being challenged, and there is a growing need for approaches that cater to the specific demands of these audiences.  Personalized recruitment strategies, including flexible scheduling options and offering incentives aligned with professional interests, are becoming increasingly vital for successful engagement.
• The sources also highlight a need to broaden the scope of B2B brand research.   It's not just about tracking metrics; it's also about understanding the nuances of brand architecture, customer perceptions, and the overall brand narrative. This involves embracing a mix of research methods, incorporating qualitative techniques to uncover deeper "why" behind the "what" that quantitative data reveals.
• Additionally, the sources showcase how technology is transforming qualitative research, specifically with the integration of AI-powered video interviews.  These technologies can streamline the analysis of large volumes of interview data, offering quicker and potentially more insightful findings.
• Growth Strategies in a Competitive Industry: The sources illustrate how companies are adopting various strategies to expand their reach and enhance their service offerings.  Strategic partnerships and acquisitions are playing a crucial role, allowing companies to access new markets, integrate complementary expertise, and ultimately offer more comprehensive solutions to their clients.  This trend reflects the dynamic and evolving nature of the market research and data analytics industry, where companies are continuously seeking ways to stay ahead and meet changing client demands.
• Navigating the Rise of AI and Data-Driven Insights:   The sources paint a picture of an industry undergoing rapid technological transformation.  AI is emerging as a key driver in several areas, including synthetic data generation and the automation of application development.  SAS's acquisition of Hazy, a company specializing in AI-generated synthetic data, signifies the growing emphasis on data privacy and security within the analytics landscape. This technology enables companies to utilize data for analysis and model development while safeguarding sensitive information.
• The sources also point to the emergence of AppGen, a technology leveraging generative AI to create applications from basic user prompts. This innovation has the potential to disrupt traditional software development processes, potentially empowering users with little to no coding experience to create their own customized applications. While this democratization of app creation offers exciting possibilities, it also presents challenges for established enterprise software vendors and raises concerns about security and governance in managing the influx of user-generated apps.
• Balancing Innovation with Cost Management:   The sources don't shy away from addressing the economic realities of the industry. The increasing cost of Business Intelligence (BI) tools, influenced by various factors such as rising labor costs, software licensing fees, and infrastructure demands, poses a challenge for organizations seeking to implement data-driven strategies.   Therefore, it becomes critical for companies to focus on maximizing their return on investment (ROI) from these tools.  Exploring flexible pricing models and optimizing the deployment of BI tools across different departments are essential strategies to ensure these technologies deliver tangible value.
• Adapting to the Evolving Media Landscape:  The sources underscore the need for traditional marketing and advertising agencies to adapt to a rapidly changing media landscape.  The lines between brand marketing and performance marketing are blurring, necessitating a shift towards a full-funnel approach that addresses all stages of the customer journey.  This requires agencies to evolve beyond their traditional focus on media scale and reach and develop expertise in areas such as data analytics, customer journey optimization, and content personalization.  This transformation emphasizes the need for agencies to become more agile, data-driven, and technology-savvy to remain competitive in the future.
• Reaching Audiences Through Familiar Platforms: The sources highlight the importance of utilizing familiar and widely adopted platforms to reach target audiences effectively.  SurveyMonkey's integration of WhatsApp as a data collection channel exemplifies this trend, leveraging the platform's vast user base to streamline survey distribution and potentially increase response rates. This integration reflects the broader industry push to make participation more convenient and accessible for respondents, ultimately leading to more valuable data collection.

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