What is market research? Well, to put it simply, it’s surveys and focus groups and interviews and communities all pulling together to help us learn more about markets, marketing, and consumers.
It’s a field that’s taken a beating in the last few years as outsiders have brought innovative techniques to light. These new techniques have stolen share from market research and will continue to do so in the coming years.
Like it or not, big data, analytics, and data scientists have taken our jobs right out from under us.
But wait. What is market research again? It’s actually not surveys or focus groups. Market research is really the application of scientific methods to understand markets and consumers. It has nothing to do with specific techniques. It’s science. Just science. And big data is science. Data scientists use science. Indeed, market research by any other name is still science.
Is market research going to die? No. Is your job going to die? Maybe. Especially if you don’t keep up with the newest scientific methods. So go learn SAS and SQL and R. Go learn and your career in market research will never die. Your title might change but not your career.
–Written on the go