There is increasing shift in market research towards analytics kantar ceo
A great topic!
Yes, you're absolutely right. There is a significant shift in market research towards analytics, and this is reflected in the words of Eric Salama, the CEO of Kantar, a leading global market research and data analytics company.
In an interview with AdExchanger, Salama emphasized the importance of analytics in market research, stating:
"The future of market research is all about analytics. It's not just about collecting data, it's about using that data to drive business decisions. The role of the researcher is no longer just to collect data, but to analyze it, to interpret it, and to provide actionable insights to clients."
Salama highlighted the need for market research to evolve and become more data-driven, leveraging advanced analytics and machine learning techniques to uncover deeper insights and drive business growth. He noted that clients are increasingly demanding more sophisticated analytics and insights to inform their business decisions, and that market research companies must adapt to meet these demands.
Some key trends driving this shift towards analytics in market research include:
- Big Data: The explosion of data from various sources, including social media, IoT devices, and online transactions, has created a need for advanced analytics capabilities to process and analyze this data.
- Machine Learning: The increasing use of machine learning algorithms to identify patterns, predict behavior, and make recommendations is transforming the way market research is conducted and analyzed.
- Customer Experience: The growing importance of customer experience has led to a greater focus on understanding customer behavior, preferences, and needs, which requires advanced analytics and data visualization capabilities.
- Digital Transformation: The rapid pace of digital transformation in various industries has created a need for market research to keep pace with these changes and provide insights that inform business decisions.
In response to these trends, market research companies like Kantar are investing in advanced analytics capabilities, including machine learning, data visualization, and predictive analytics, to provide clients with deeper insights and more actionable recommendations.