According to the latest statistics from Gartner, worldwide spending on information technology is projected to be $3.76 trillion this year, an increase of 3.2 percent from 2018. As companies all over the globe begin to adopt new technology, it has become even more vital for the market research industry to keep up.
Some of us remember the painfully slow move to online surveys and equally painful (ongoing) move to mobile. No one wants to relive those days, so many market researchers are searching for the latest technology that can improve their efficiency, reduce costs and help them stand out from the competition.
Easier said than done, right? Choosing the right software is a decision that can be challenging. There’s a dizzying array of choices out there, both from inside and outside the market research industry, and there are inherent risks involved with adoption. However, the industry is moving forward, with or without us. It’s not smart to bury our heads in the sand, but instead take a thoughtful approach.
There are many things to consider, including the individuals who will be using the technology, your clients’ needs and how much support you will receive on an ongoing basis. Below, we’ve outlined a few quick questions that can get you started on the right path when it comes to technology adoption.
Take the time to explore and weigh the options, and capitalise on your unique approach to market research by investing in software that highlights your strengths. After all, the right choice in software can help to differentiate your business, increase your productivity and deliver on your stakeholder’s specific needs.
1. Does the solution fit your company’s unique needs?
The first order of business is to gain a deep understanding of how software will fit into the architecture of how you run your company and what your clients are expecting you to deliver. Then you can sift through the options and find the tools—or combination of tools that will allow you to best meet these specific parameters.
2. Does it have a foundation in market research?
The best tools have been built by people who understand the research experience from the ground up and know what it takes to build essential trust with users. This mindset results in tools that address key pain points because the experts behind them are already intimately aware of the challenges.
3. Is new technology being used to meet new demands?
Machines just do some things better, including meeting demands for speed and accuracy. Solid implementations of things like automation and machine learning can help complete tasks efficiently and leave you free to do your most valuable job of uncovering insights.
4. Is there a culture of constant improvement?
Check to make sure your vendor is nimble and responsive in making improvements. The ecosystem in the industry is always changing, so solutions that implement feedback and track the pulse of new approaches are ideal.
5. Are there responsive, knowledgeable humans backing it up?
No matter how advanced a software solution is, human expertise is needed to drive it. It is this marriage of market research experts and advanced use of technology that can create real success.
Want more? Check out the Infotools Buyer’s Guide to Market Research Analysis Software.