Trends in Market Research Industry for 2016

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The previous year has been a most active one in terms of MARKET RESEARCH. Data is growing up to be the most valuable asset in business world; jobs related to research and development and data collection are featuring in the most in demand and highest paid profession lists. 2016 is going to be a year where the trends would continue and the industry will acquire a newer, higher stage.

With technologies getting revamped; the methods of research have also changed and there is a lots of automation into the industry which is making the activities much simpler and faster.

The following are few trends which are sure to happen in 2016; hence further developing the industry.

2016 is gonna be the “MOBILE RESEARCH YEAR”-

Although the use of mobile technology is present in the market research process, it’s just the naïve stage. Experts have found that market research using mobile Internet is almost equal to zero. Unavailability of research data/reports, too much time consumption and the high expense involved are reasons why market research on mobile is not a regular affair now.

Moreover, according to a study it is found that more than 50% of the research projects aren’t mobile optimized, which is a big hurdle. This block needs to be cleared and predictions are that in 2016, major market research companies will be spending dedicated sums in order to make market research much mobile friendly through higher adoption.

“Market research industry now holds around 9000 highly educated professionals, sector to grow beyond $300bn by 2020”

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Makeover of Data Insights, Change in the way we collect and present data-

2015 and the previous years were times when data collection was the buzz-collecting details on an industry and posting the same online was more than enough. However, with the growths; the demand for data and insights are constantly changing. This is steadily but surely brining up a change in the market research industry as well. The presence of tech is making a massive impact here as well, the data availability is immense, there’s a sea of information which is in hand yet finding the right sources is a task.

The importance of REAL TIME DATA will be growing and it will remain as priority on the list. Moreover, there is a need for data personalization also known as customized data. 2016 will have information which is newest and will have more of information concentrated to an individual’s requirements. Research entities have started taking the customized method of research much more seriously and are further working on bringing it up to greater usage.

Market Research and Big Data, the connection-

Big Data has been a vibrant term since the last few years. Yet, the progress of the industry hasn’t been uniform in all parts of the globe. However, predictions have it that big data analytics will play a greater role in 2016; companies from around the corporate world are planning to hike their spending on the same.

The big data industry is developing newer, advanced tools that would provide better outcomes within a shorter span. In short, this year and the times coming up will facilitate a blending between market research and big data in a systematic manner that makes essential business sense.