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Articles and Blog Posts
Articles and Blog Posts inspired by the world of consumers
What is the difference between qualitative versus quantitative research?
7 Jul 2020
Team idStats.
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Brand Culture’ – Your Magic Potion For Marketplace Success
16 Dec 2019
Aarnesh Shrivastava, Team idStats.
‘Brand Culture’ – Your Magic Potion For Marketplace Success “People don’t buy what you do, they buy why you do it” Simon Sinek We live in a real-time world where news/events and happenings from across the world are serving for…
Linking Brand Essence And Growth
25 April 2016
Jerome Conlon, Branding Strategy Insider
The key to a successful repositioning program is clear thinking about the nature of your brand essence. Many companies skip the brand introspection, purpose, values and philosophy step. Instead they go straight to product line planning and marketing tactics.
The reality is if you haven’t thought deeply about your brand purpose and values and how these might be used to forge stronger bonds with consumers then your still doing planning but it is not really strategic planning in a brand sense.
Brand Essence – 9 ways to have a strong brand essence
17 Dec 2019
Hitesh Bhasin, Marketing91.
Brand is associated with intangible benefits and experiences that the customer attains by using a product or a service. Brand should not be confused with the trademark, logo or the name of the company. It is actually a collection of thoughts and feelings about the experiences when getting in touch with the product or service.
Trends in Market Research
30 Jan 2020
Aarnesh Shrivastava, Team idStats.
Imagine if you could significantly speed up the market research process, ensure more accurate insights, and drive efficiency across every step. Now, imagine being able to do that without even thinking about it or having to get your hands dirty.
Thankfully, with the right tools and an investment, there are a new growing trend in market research industry that’s leading to a more fast and automated generation of results in far lesser time.
6 Growing Industries to Watch in 2020
18 Feb 2020
Aarnesh Shrivastava, Team idStats.
As one decade draws to a close, predicting what’s to come in the next can be challenging. While the US-China trade war continues to sow uncertainty in global markets, there are signs an end may be in sight. Though earlier this year brought warnings of a recession, economists now say the US is likely to avoid one.
In other words, the news of the day may not be the best indicator for the trends of the year, which can lead to hasty decision-making and missed opportunity.
Unfiltered Communications
30 Jan 2020
Aarnesh Shrivastava, Team idStats.
Increasing Importance of Authenticity in Today’s Connected World! By the idstats team. In today’s world, given the rhetoric around #fakenews abounds, the need for ‘authentic’ and ‘genuine’ communication by brands is becoming increasingly critical. With leading brands using social media…
Visibility & Focus
16 Dec 2019
Aarnesh Shrivastava, Team idStats.
Visibility & Focus – Market Research Goals for 2017 This article and expertise were originally published on Forbes. Visibility is one aspect of marketing that won’t change — regardless of the year. Marketing before and after a digital transformation revolves around…
Five Trends Shaping The Future Of Customer Experience In 2020
17 Dec 2019
Blake Morgan, Forbes
For the last five years I’ve written predictions for the future of customer experience. There is no doubt in my mind that the discipline of customer experience has exploded since 2014 when I started this column for Forbes. It’s amazing to see the evolution of trends and technology from my predictions. In 2015 I wrote about the multi-channel customer. In 2016, I predicted the growth of the Internet of Things and video for customer service. 2017 was all about data and machine learning, 2018 showcased personalization and the CEO owning customer experience and last year I predicted the growth of digital transformation. Clearly, things are always changing and evolving, and it’s up to us to keep up.....
How can Social Media Analytics be a Powerful Tool for Market Research?
8 Aug 2018
Pooja Dara, Medium.com
From big organisations to the startups, social media is a great platform to understand consumer choices, sentiments and intentions in real-time. It allows you to know the customer base on a more personal and emotional level. This way, it helps them to improve or redirect their marketing efforts.
Hidden Value of Mystery Shoppers
20 Jul 2020
Aarnesh Shrivastava, Team idStats.
She walks in the hall, in her pocket with a carefully concealed script. Or, perhaps she's typed notes in her smartphone, occasionally looking at them as if she's checking texts or emails. She tests out her watch to see how long it takes shop workers in the aisles to welcome her. She keeps track of how long it takes a person to solve an issue with the order. She looks for outdated signs or clothing that have no visible price on it. She looks at her head in bathrooms and aisles in store to see if the stock is perfectly set.
Planning for Insight: How to Build an Insight Roadmap for Customer Centricity
28 Jul 2020
Aarnesh Shrivastava, Team idStats.
An insight roadmap is a strategy for maintaining customer centricity in the company. It brings stakeholders together to agree on key goals which will inform your insight community. It will help your community operationalize and provide a path forward for the insight community manager to inform the business. We'll explore why you may need it in this article, offer some considerations and give suggested logistics. In our own organizations and the experience of our customers, we will share what we learnt to do.
The Power of Branding: A Brand Essence Analysis
31 July 2019
Aarnesh Shrivastava, Team idStats.
A digital marketing company in Singapore should be aware of the branding strength. Today, it is a very useful concept that every large company uses. This is not easy to understand, but when it is understood, it is of immense benefit for all companies, be it start up business and corporation. Here is the article on only one of the many facets of branding for those interested in leveraging the power of a brand.
Redefining Customer Experience: Why Customers Look for Safety Before Shopping
14 Aug 2020
Aarnesh Shrivastava, Team idStats.
COVID-19 has broken down the way we think of the consumer experience. Read on for ways the customer service can be directly impacted. It stripped the customer experience bare. When the virus spread, health and protection with it were taken down. In reality, it still concerns 72 per cent of our customer panel. Yet the brand is about to spice them up again.
Focus Groups: Their Importance and How to Conduct One
17 Aug 2020
Aarnesh Shrivastava, Team idStats.
And what exactly are focus groups? In general, it's a driven conversation about a new product, program, or marketing campaign with a representative group of consumers. You ask questions and facilitate a dialog between your target market in order to learn about their opinions and then use those insights to shape your future campaigns or launches.
Brand essence and your brand identity
28 Sep 2020
Aarnesh Shrivastava, Team idStats.
The most linked piece of information in our organization is brand identification. Your brand essence is the first stage of creating your brand identity, but how do you know your brand essence is good? Learn the five requirements for the assessment of great brand essences. Read positive and bad real-life examples of brand essence. Written to inspire others to develop, evaluate or refine their brand essence and brand identity in the process.
The Elusive Holy Grail of Consumer Data Science and Intelligence
28 Sep 2020
Aarnesh Shrivastava, Team idStats.
In the current context, understanding consumer data science is very important. In today's marketplace, in order to remain competitive, brands, agencies and organizations must have easy, seamless access to complex consumer-based data. Meanwhile, the environment in which we work has been affected by awareness around data collection, responsible usage, and legislation. As people change their emotions and attitudes rapidly, external stresses from the global pandemic, widespread natural disasters and social disruption are also prompting the need for customer insights to pick up.
Creating a Buzz: How to Make Insights Exciting
29 Sep 2020
Aarnesh Shrivastava, Team idStats.
Insights are inherently exciting when formulated correctly and actionably-they have the ability to fully change every industry and help us to understand customer behaviour. So why are we doing such a disservice to them that we are approaching them the same way we do raw data?
The Difference Between Implicit vs. Explicit Testing
29 Sep 2020
Aarnesh Shrivastava, Team idStats.
With several different research approaches, from more conventional polls, focus groups, and milk research, to more advanced immersive VR / AR research, eye-tracking techniques, and various behavioural science-based approaches, market research is a fascinating area.
How Custom Market Research Can Help You Make Strategic Decisions
22 Oct 2020
Aarnesh Shrivastava, Team idStats.
To gain important insights into a variety of industries, many businesses rely on syndicated market research reports, but sometimes a more personalized approach is required for strategic decision-making, known as custom market research.
Which Market Research Method Provides the Highest ROI?
13 Nov 2020
Aarnesh Shrivastava, Team idStats.
In business decision making, market research plays a critical role. This describes the roles and procedures that are successful as well as those that need attention. It is important for efficient overall market positioning and assessment, as well as providing consumer, stakeholder and staff feedback on details of product, service and experience. A business could easily find itself falling short of consumer standards or competitor norms and suffering as a result without the assistance of market research. But the technique of market research offers the highest return on investment?
Market Research and the Importance of User Experience
17 May 2021
Aarnesh Shrivastava, Team idStats.
Commissioned campaigns, planning, size, review, and reporting were all part of market research in the past. You might see a project coming up in the next few weeks; there would be a design phase, a recruitment phase, and then you'd conduct the actual research (getting lost somewhere on the outskirts of Manchester trying to find a focus group facility or programming a 100-question survey that you'd later regret), drill through a massive pile of data, and then create a PowerPoint presentation to present. You'd have to hope you'd nailed the approach in the first place, because turning it around was like manoeuvring a super tanker.
Human Experience Research: An In-Depth Guide
14 June 2021
Aarnesh Shrivastava, Team idStats.
It is our obligation as researchers to investigate a variety of various techniques and methodologies for any given assignment. This allows us to select a method that will provide us with the greatest and most relevant data available. Experimenting with several strategies is necessary to establish which methodology is best suited to a given brief. HX – human experience research. HX prefers to talk about ‘people' rather than the terms that could be used to the other two groups, such as ‘customer,' ‘consumer,' ‘user,' and so on.
Human Experience Research: An In-Depth Guide
18 June 2021
Aarnesh Shrivastava, Team idStats.
User Experience research is more analogous to stand-up paddle boarding: it's interesting, inexpensive, quick, flexible, and portable, but it's definitely a little frightening. Furthermore, unlike traditional market research focuses on feedback from a large number of people, User Experience research focuses on individuals and how they engage with products and services in order to personalise and improve the user's experience.
Role of Focus Groups in Conducting Perfect Insight Research
21 June 2021
Aarnesh Shrivastava, Team idStats.
A fundamental output and advantage of focus groups is the production of unexpected ideas and interpretation. When a researcher, as a moderator, is able to build and cultivate a really communal atmosphere within a focus group, we can notice aspects of participant behaviour that we wouldn't ordinarily be able to see. The moderator manages the balance of more and less strong characters during participant engagement, but it is the interaction between participants discussing concepts and products that can yield the greatest insight.
Informative Decisions Derived from Qualitative and Quantitative Data
25 June 2021
Aarnesh Shrivastava, Team idStats.
New tools, platforms, and technology advances abound, bolstered by a shift in industry discourse. The hot new trends of neuroscience and automation have taken over conversations that were previously focused on agile and mobile research.
Digital Transformation's Impact on the Insights Industry
28 June 2021
Aarnesh Shrivastava, Team idStats.
Technology and commercialization have sparked global change, but change brings with it dozens of new difficulties and opportunities that all industries must adapt to. The use of digital technology to solve problems, modify processes and policies, and evolve into a better functioning organization and industry is what digital transformation is all about.
GDPR: 160,000 data breaches reported already, so expect the big fines to follow
18 Feb 2020
Aarnesh Shrivastava, Team idStats.
Over 160,000 data-breach notifications have been made to authorities in the 18 months since Europe's new digital privacy regulation came into force, and the number of breaches and other security incidents being reported is on the rise.
Analysis by law firm DLA Piper found that after the General Data Protection Regulation (GDPR) came into force on 25 May 2018, the first eight months saw an average of 247 breach notifications per day. In the time since, that has risen to an average of 278 notifications a day.
Training’s Renewed Role in a Rapidly Changing World
15 Jun 2020
Aarnesh Shrivastava, Team idStats.
Admittedly, summer doesn’t technically start until June 20th in the Northern Hemisphere, but usually as we enter this season, there’s an anticipatory sense of fun and cheerfulness as we look forward to sunshine, pool or beach time, backyard parties, vacations, and the like.
Translating Business Problems into Research Objectives
5 July 2021
Aarnesh Shrivastava, Team idStats.
It can be intimidating to create a research brief because it looks that there is a lot to write and a lot of responsibility resting on it. However, it doesn't have to be long or convoluted; a page, or even half a page, should be sufficient to appropriately translate your company concerns into meaningful research objectives. The important thing to remember is that this document only needs to be as long as it needs to be – there is no need to exceed a word count, and there is no need to make it lengthy for the sake of it, since doing so can cause you to lose critical focus.
The widening world of Mobile Ethnography
25 Feb 2020
Aarnesh Shrivastava, Team idStats.
Your lens or their lens: The widening world of Mobile Ethnography In a world of “selfies” mobile ethnography taps exactly into that: selfies, but for research; especially for market research. Mobile ethnography is derived from two words – mobile and…
Some Real-World Examples of Ethnographic Research
30 Sep 2020
Aarnesh Shrivastava, Team idStats.
The Harvard Business Review describes ethnography as a "branch of anthropology that requires trying to understand how people live their lives." Ethnography is an indirect technique for market research purposes in which the natural behaviour of consumers is studied in their daily environment. In order to comprehend their point of view in detail and depth, ethnography enables researchers to immerse themselves in the lifestyle of consumers.
Why Ethnography is Still the Best Form of Research
6 Nov 2020
Aarnesh Shrivastava, Team idStats.
Ethnography is regarded by many people as a costly, time-consuming method of study. Ethnography is rarely ever taken into account, whether its service, product, or experience creation. These naysayers are correct most of the time. You wouldn't want to participate in a long-term, expensive ethnographic analysis to settle on a name for the new service you are providing, after all.
Contemporary Youth Culture in India as seen through a Semiotic Lens
16 Dec 2019
Aarnesh Shrivastava, Team idStats.
February 2018 All Rights Reserved Youth is a life stage and a cohort of immense interest to everyone – to the youth themselves, to marketers who hope to catch them young in favour of their brands, to educationists who see…
How to Build a Luxury Brand
16 Dec 2019
Aarnesh Shrivastava, Team idStats.
How to build a luxury brand Source: Warc Best Practice, March 2017 Downloaded from WARC This paper explains how luxury brands need to adapt to an evolving market comprising digital opportunities, millennial shoppers, the concept of “affordable” luxury and the…
Human-Centered Design
7 Jun 2021
Aarnesh Shrivastava, Team idStats.
Human-centered design (HCD) continues to gain traction in a variety of industries. If done appropriately, the method has the ability to produce useful, customer-centric insights. These insights can be leveraged to generate new solutions that provide customers and businesses with long-term value. HCD entails a deep understanding of users, innovative thinking, and rapid solution testing.
Leveraging Semiotics
20 Dec 2022
Yoko Oba, Team idStats.
Human-centered design (HCD) continues to gain traction in a variety of industries. If done appropriately, the method has the ability to produce useful, customer-centric insights. These insights can be leveraged to generate new solutions that provide customers and businesses with long-term value. HCD entails a deep understanding of users, innovative thinking, and rapid solution testing.
An Insight to Data Mining
21 May 2018
EduPristine
In today’s world of vigorous competition, it has been observed that the development of Information Technology and Automation in past few years has raised the capacity of companies to generate and collect a large amount of data. They have Database Management System (DBMS) to store a large amount of organizational data. But storing a large amount of data is not enough for company’s success, extracting value from that database is equally important. Deriving real value from previously stored data is crucial for company’s growth and this can be achieved with data mining. Data mining in DBMS (Database Management System) is used as a support system to facilitate effective functioning of the organization.
Validity: Why Are Researchers Considered About Validity of Data?
16 Jul 2020
Aarnesh Shrivastava, Team idStats.
Validity is described as the degree to which a research study measures what it intends to measure. For example, if the objective of the survey is to measure the disposition to avail of a micro-credit scheme amongst a group of workers; and the survey uses constructs that measure the intention to avail of the micro-credit then the data is said to be valid. There are two main types of validity for analysing the appropriateness and meaningfulness of data - internal and external validity. Internal validity refers to the validity of the measurement and test itself, whereas external validity refers to the ability to generalise the findings to the target population.
Reliability: Why Are Researchers Considered About Reliability of Data?
17 Jul 2020
Aarnesh Shrivastava, Team idStats.
Reliability refers to the consistency of results i.e. similar results when the study is repeated under the similar conditions. For example, if for a given survey to measure the disposition to avail of a micro-credit scheme amongst a group of workers one gets consistent information from more than one group, more than one time (test-retest), more than one instrument/ questionnaire (parallel forms), then these results can be said to be valid.
Re-Evaluating Our Way of Life – ‘Sustainable Living’
20 Jul 2020
Aarnesh Shrivastava, Team idStats.
The pandemic has forced us to revisit the social and economic paradigms that were often considered to be given in the past years. Indeed, the Covid 19 has through enforced isolation has not only triggered economic recession, but also social recession; as it has made each of us – our social strata notwithstanding - confront firsthand the issue of ‘personal safety and thrust upon each of us the challenge of living in an uncertain world’.
Text Analytics: Interpreting the Consumer’s Story
19 Aug 2020
Aarnesh Shrivastava, Team idStats.
Text content is available all over the internet. All sources of raw text data are emails, forum questions, social media messages, customer support requests, responses to open-ended survey questions and even this blog post. Text data are drawn from something written by a human being and it is possible to examine these raw text data to discover informative patterns.
The Underlying Mechanics of Consumer Trust in Market Research
29 Sep 2020
Aarnesh Shrivastava, Team idStats.
Consumers expect more from brands in today's world. Influencers and endorsements now have less authority after saturating the market for a good while as the industry moves back to 'trust marketing'; customers want to develop a relationship with a brand again. Consumer understanding of data security and privacy rights has grown in accordance with this change, and study participants are keen to ensure that they know what their data is used for, and how.
The Role of Technology Providers in Market Research
13 Nov 2020
Aarnesh Shrivastava, Team idStats.
Modern market research is underpinned by technology. New tools have often been used by researchers, whether it's a move from note taking to tape recording to mini discs to digital recorders and from face-to-face surveys, to post and phone surveys, then email, then desktop and smartphone surveys. This is not only about making the researcher's life simpler, but ensuring the knowledge is recorded in the most effective way to perform a detailed review afterwards.
Understanding Data Driven Decision Making
27 Nov 2020
Aarnesh Shrivastava, Team idStats.
Data-driven decision-making is just what it sounds like a system by which participants use information to guide their choices. The whole industry of insights is focused on this feeling, as we are the miners of insightful golden nuggets of data on which companies lead their whole brand.
Bridging the Gap Between Brands and Consumers
17 May 2021
Aarnesh Shrivastava, Team idStats.
Consumer perceptions, behaviours, and buying patterns have all changed dramatically in the last year, forcing companies to adapt quickly. Though transactions are still mostly driven by basic needs, people are becoming more aware of their purchases, purchasing locally, and embracing digital commerce.
How Technology Offers to Quantitative Methods in Future
21 May 2021
Aarnesh Shrivastava, Team idStats.
Market research has a fascinating history, full of innovative ideas, refined methods, expanded scopes, and technical advancements. At its inception, market research was a strictly quantitative area whose aim was to assess promotional activities and financial results of companies all over the world.
How Technology Offers to Quantitative Methods in Future
21 June 2021
Aarnesh Shrivastava, Team idStats.
In the insights sector, agile research is a popular topic of discussion. We're always looking for new tools, strategies, processes, and anything else that can help us develop and deploy agile research experiences more easily, quickly, and affordably than ever before. But we're still not at the position where we can confidently state that we can deliver agile research experiences whenever we need them.
Research Strategies Empowered by Agile
21 June 2021
Aarnesh Shrivastava, Team idStats.
With the growing number of requests from stakeholders for faster and more agile research, it appears that more insight teams are grappling with the shrinking amount of time available to do high-quality market research in the insights sector.
We are constantly creating research methodologies and working within the limits imposed by stakeholders as an industry, but there are a few that stand out for really time-constrained teams:
Conjoint Analysis: A Market Researchers’ go to Statistical Model
29 Jul 2020
Aarnesh Shrivastava, Team idStats.
Conjoint analysis is a technique in market research that tests where consumers put interest on a product or service. Conjoint analysis, a popular technique, incorporates practical hypothetical scenarios to assess purchase decisions in a survey.
Data Mining: Social Media vs. Online Communities
28 June 2021
Aarnesh Shrivastava, Team idStats.
Businesses trying to better align themselves with customer requirements should take advantage of social media, which is clearly a rich source of raw, unfiltered consumer data. Online communities, on the other hand, can work in a similar way and are specifically designed to collect data for research. So, which platform is superior for data mining? What do you prefer: social media or online communities?
What is the difference between artificial intelligence and machine learning?
7 Jul 2020
Aarnesh Shrivastava, Team idStats.
Artificial Intelligence refers to the use of computers to mimic human intelligence using logic, decision trees or machine or deep learning. The computer is doing something intelligent, so it’s exhibiting intelligence that is artificial.
How AI is Transforming and Automating Consumer Goods Industry
17 Jul 2020
Aarnesh Shrivastava, Team idStats.
Artificial Intelligence (AI) is one of the trans-formative technologies that the organizations of consumer goods should adopt to further accelerate their path to digital maturity. Innovations in artificial intelligence 'perform or theoretically increase tasks, better assist in illuminating decisions, and accomplish goals that have traditionally required human intuition, such as planning and reasoning from incomplete or ambiguous knowledge and learning. As such, AI developments in the commercial industry will potentially boost the upper hand of an enterprise and enhance the consumer experience.
Impact of AI on Market Research: Will it lead to new heights?
17 Aug 2020
Aarnesh Shrivastava, Team idStats.
In Insights Industry, Artificial Intelligence has consistently remained the most talked about subject. Despite process streamlining by machine learning, the future of market research is reliant on the perseverance of hard skills.
Artificial Intelligence and Market Research: What being human means
19 Aug 2020
Aarnesh Shrivastava, Team idStats.
AI (or artificial intelligence) is a staple of science-fiction in dystopia, so much so that it almost becomes a cliché. Just talk of AI conjures up visions of cruel robot overlords who try to kill the human race with one hand. In 2014 Stephen Hawkins and Elon Musk echoed fears of an extinction at the hands of our own technological creations. Yet the research industry is steadily marching towards an automated future led by machine-learning algorithms and smart models. Surely, we are building the future of which we have been warned?
How AI is Changing and Improving Consumer Insights
19 Aug 2020
Aarnesh Shrivastava, Team idStats.
Although technology is evolving at a rapid rate for us to learn about artificial intelligence, there is still much more out there. Especially the ways it can help you understand your customer, as in segmentation of the market. One might possibly suggest we 're in the infancy of understanding artificial intelligence. AI has the potential to revolutionize how in 2020 and beyond we gather commodity and customer insights.
Influence of Natural Language Processing (NLP) on Marketing and Market Research
21 Aug 2020
Aarnesh Shrivastava, Team idStats.
NLP has gone far beyond being merely a better input method these days – we can use machine learning algorithms to understand, evaluate, and even synthesize text and voice in new ways that have never been before seen before. Because marketing relies heavily on words to convey messages about people and products, it is not surprising that NLP has sculpted a large marketing technology niche.
Predictive Data Analysis and Modelling: How does it enhance marketing and market research?
21 Aug 2020
Aarnesh Shrivastava, Team idStats.
Predictive marketing analytics would have been adopted years ago – if only the computing power were more omnipresent, the data would be more accessible and the software would be more user friendly. Now "predictive analytics" itself is almost a buzzword, after almost 30 years of marketing tracking with a backward glance.
How Artificial intelligence is changing market research and engagement
11 Sep 2020
Aarnesh Shrivastava, Team idStats.
Although Hollywood movies can lead you to believe that AI is an ominous thing, market researchers have nothing to fear and everything to gain from it. The new artificial intelligence technologies transform interaction and contribute to the hottest market research patterns, with everything from broad scale data processing to report production. Here are some ways in which AI will help market researchers achieve success in 2019 and beyond.
Leveraging Text Mining to drive Consumer Story and Insights
14 Sep 2020
Aarnesh Shrivastava, Team idStats.
Text mining sounds like a sophisticated word, but it's quite a basic idea behind it. In short, this includes using the technology of machine learning to derive useful knowledge from text-based data (product feedback, emails, data from call centres, and more). Customer analysis teams use the text mining technique extensively, and it can help product marketers and analysts understand the pain points of their clients, how consumers use those products, and more.
How AI is changing everything about Market Research Industry
21 Sep 2020
Aarnesh Shrivastava, Team idStats.
To understand the potential for AI 's transformational impact on market research, the factors that led to the sector's decline in its conventional form need to be appreciated. One reason is that the area of client observations has been market research. However, the rise of big data as a business intelligence tool has dramatically eroded that position within an organization.
How is digital transformation taking place across sectors?
21 Sep 2020
Aarnesh Shrivastava, Team idStats.
Digital transformation may be a buzz word in the tech realm, but for each company it's special and personal. The definition varies from one business to another. Innovation brings a different sense to each entity, regardless of the similarities that each organization shares, and its implementation is — by default — unique in every case.
Impact of AI in Redefying Business Processes
22 Sep 2020
Aarnesh Shrivastava, Team idStats.
Artificial Intelligence (AI) emulates the mechanism of human intelligence involving the extraction of concrete observations and patterns, anticipating plausible future decisions made possible by the three key tenants of Machine Learning ( ML), Natural Language Processing ( NLP) and Deep Learning (Neural Networks) technology. AI has developed encapsulating anything from rule-based machine learning to image classification whose uses range from preventing high-end cybersecurity threats to object recognition. Artificial Intelligence redefines Business Processes through geolocations. Here are the instances of usage that illustrate the pursuit of AI in business speech.
How AI is being used in Market Research and Other Industries and its Impact
28 Sep 2020
Aarnesh Shrivastava, Team idStats.
Artificial intelligence has endless examples that influence our lives. Although some people call this the idea of "robots taking over the world in an evil genius way," it is difficult to argue that by saving us tons of time , money and energy, artificial intelligence has made life easy. Machine learning, deep learning and natural language processing (NLP) are the main concepts closely linked to AI that you can come across over the course of our discussion. Before we go on, let's make sense of them.
IDENTIFYING CONSUMER INTENT: SENTIMENT ANALYSIS AND NLP IN SOCIAL MEDIA
28 Sep 2020
Aarnesh Shrivastava, Team idStats.
Social media has empowered clients to interact more freely than ever before with their favourite brands and share their thoughts. 80 per cent of the world 's data is estimated to be unstructured or unorganized. Every day, huge amounts of information are generated via emails, support tickets, chats, social media conversations, which form the supporting pillars of sentiment analysis. Sentiment analysis finds its existence in the monitoring of social media, brand monitoring, customer support and market research, offering advertisers between 70-80 percent of the time the chance to get their insights.
Understanding How Predictive Analysis Leads to Better Consumer Understanding
28 Sep 2020
Aarnesh Shrivastava, Team idStats.
Predictive analytics is a data analytics field that specializes in 'predicting' the future based on insights created from user experiences from current and historical data. A very neat idea with a great deal of promise for all sectors. Data mining, machine learning, and statistical analysis techniques are usually used to gather and sort this knowledge from a range of platforms covering the many channels through which brands communicate with clients and consumers.
Ways AI Can Improve Digital Transformation's Success Rate
28 Sep 2020
Aarnesh Shrivastava, Team idStats.
Transforming or changing the interactions of consumers digitally must be the foundation of any investment in emerging technology or business processes. As a strictly technological, abstract construct, it is necessary to get beyond digital transformation and see it as a must-have strategy to maintain clients and attract new ones. The hundreds, if not thousands, of successful customer stories they produce are known as the most successful digital transformation ventures.
Survey Chatbots: The future of Qualitative Research
29 Sep 2020
Aarnesh Shrivastava, Team idStats.
While chatbots are becoming more popular on websites and social media contact applications, 60 % of customers prefer to wait in a queue to speak to a human agent over communicating with a chatbot, which brings us to the all-important issue, are Survey Chatbots coming of age or are they aging out of all utility?
Role of AI in Market Research: Importance of Humanising the Insights
30 Sep 2020
Aarnesh Shrivastava, Team idStats.
AI (or Artificial Intelligence) is an increasingly prevalent topic. I don't think it can't completely replace a researcher and how we think and function (thankfully or we'd all be searching for new jobs!) because it's becoming more popular within the market research industry; and on top of that, I don't think it should.
Ways in Which Artificial Intelligence Can Complement Qualitative Research
22 Oct 2020
Aarnesh Shrivastava, Team idStats.
Back in 1950, the famous Alan Turing question, "Should machines think?" He opened his 'Computing Machinery and Intelligence' paper. Jumping much ahead in time, the developments in artificial intelligence (AI) are manifold and cover almost all facets of our lives. AI serves millions every day, whether by your mobile, your vehicle, your bank or your home. Often you use a service such as Siri or Cortana actively, other times it's less evident and it also goes unnoticed quite much. The AI wave is having an effect on markets, including market research, across the board.
Market Research Automation: Fact, Fiction and Reality
22 Oct 2020
Aarnesh Shrivastava, Team idStats.
The commissioning, set-up and recruiting process of market research projects is one of the areas arguably ripe for automation. You could simply include your credit card information, pick a testing tool, buy a sample and off you go instead of having to enquire via a website, speak to an account manager, lift a PO, have a set up call, etc. If required, sample purchases could be connected to external research platforms and agile testing could be carried out quickly. Sounds awesome! Theoretically...
HOW ARTIFICIAL INTELLIGENCE HAS CHANGED IMAGE RECOGNITION FOREVER
20 Nov 2020
Aarnesh Shrivastava, Team idStats.
Advances in Artificial Intelligence (AI) technology have made it possible for engineers to create software that can identify the material in images and videos and explain it. Previously, image recognition was restricted to recognizing distinct objects in an image, also known as computer vision. Researchers at Stanford University and Google, however have found new software that recognizes and describes the whole scene in an image. The app can also write extremely precise captions explaining the picture in 'English'. Today, artificial intelligence software is also available that can imitate the ability of humans to observe and understand, and can recognize and explain the content of videos and photographs with great precision.
AI with Market Research: Combining Next Generation Tech with Human Insights
27 Nov 2020
Aarnesh Shrivastava, Team idStats.
Nothing is as difficult as the human brain, capable of carrying out multiple complex tasks at once. Yet technology is a catch-up, capable of automating procedures, speeding up project schedules, and so much more with the continuous improvement of machine learning and artificial intelligence technologies.
AI and Deep Learning: Impact on Market Research
2 June 2021
Aarnesh Shrivastava, Team idStats.
The reality that customer behavior is shifting is undeniable. There are several things at play, but one of the most significant is the impact of technology in everyday life, which is speeding up and modifying the customer journey.
Getting Richer Insights using Natural Language Processing and Machine Learning
21 June 2021
Aarnesh Shrivastava, Team idStats.
To grasp the meaning of text documents, machine learning (ML) for natural language processing (NLP) and text analytics uses machine learning algorithms and “narrow” artificial intelligence (AI). Social media comments, online reviews, survey responses, and even financial, medical, legal, and regulatory paperwork are all examples of documents that incorporate text. In natural language processing and text analytics, the role of machine learning and AI is to improve, accelerate, and automate the underlying text analytics functions and NLP features that convert unstructured text into usable data and insights.
Technologies that are transforming Market Research
5 July 2021
Aarnesh Shrivastava, Team idStats.
When it comes down to it, market research is very simple: find a market, ask it questions about products and services, then respond to its wants. Of course, this is an oversimplification, but there was a time when this was nearly true, and market research businesses had a remarkably straightforward job. Market research, on the other hand, has become a far more sophisticated and ever-changing beast that need continual monitoring and tracking to keep up with.
Blending Data Formats to Drive Decisions
6 July 2021
Aarnesh Shrivastava, Team idStats.
Market research should be at the heart of decision-making within the organization when confronted with a business issue, challenge or even when trying to try something different. Researchers need to develop the correct methodology and decide how to compare, validate or contrast findings in order to address research questions with validity and accuracy. Will a strictly quantum or qualitative focus offer the answers we need at one point in time, or should researchers look at a mixed approach at other points in time with both qualitative and quantitative methods and comparisons to other data sets? If more than one analysis technique is used, then more than one data set is sourced, interpreted, and analyzed, so how can all this information be handled and processed by researchers?
Incredible Artificial Intelligence Pioneers Everyone Should Know About
25 Feb 2020
Aarnesh Shrivastava, Team idStats.
Every year, the World Economic Forum reports on technology pioneers from around the world. As you might expect, this year, many companies use artificial intelligence (AI) and machine learning at the core of their business to deliver innovative products and service offerings. Anyone interested in AI should know about these pioneering businesses
Humans, Machines and Conversations: How AI is optimizing Ethnography
18 Sep 2020
Aarnesh Shrivastava, Team idStats.
Ethnography is an entire research area. It is itself relatively recent, with the most common type first identified as a subset of anthropology in 1988. Approximately ten years later, it was introduced relatively quickly in the commercial market research industry. Ethnography is the study of culture and the people. It is intended to investigate cultural phenomena where, from the point of view of the topic of the study, the researcher observes society.
Facial Coding (FACS)
16 Dec 2019
Aarnesh Shrivastava, Team idStats.
The Facial Action Coding System (FACS) is a tool, which has been globally recognized for accurate measurement of complete gamut of facial expressions. Swedish anatomist Carl-Herman Hjortsjo had originally developed the system and later psychologists Paul Ekman and Wallace V.…
Standing Apart In The Rain forest
16 Dec 2019
Aarnesh Shrivastava, Team idStats.
Helping your brand stand out on the shop shelf by using eye tracking Given the visual clutter common across the retail stores globally, most brands struggle to really stand out from competitors and to be noticed at the first point of…
Spooked By Spock: Demystifying The Science Of Behavior
16 Dec 2019
Aarnesh Shrivastava, Team idStats.
Spooked By Spock: Demystifying The Science Of Behaviour Humans are not Spock. Much as traditional economists would like to have otherwise, the reality is humans are not rational – they are emotional and have biases, leading to imperfect decision making.…
THE MATH BEHIND LOSING AND WINNING
16 Dec 2019
Aarnesh Shrivastava, Team idStats.
THE MATH BEHIND LOSING AND WINNING Exploring how loss aversion bias can be leveraged in an attention deficit world BEHAVIOURAL ECONOMICS PRIMER. In sports, the pleasure of winning is less than the pain of losing. Winning is great. You get…
Getting to Know Neuromarketing: Facial Coding
5 Aug 2020
Aarnesh Shrivastava, Team idStats.
Analysis of facial expression as the Facial Action Coding System was originally developed by Carl-Herman Hjortsjö in the late 60's and early 70's, and pioneered by Paul Ekman and Wallace Friesen in the 70's, where facial expressions are studied, primarily by changes in different categories of facial muscles, to determine the emotional response of an person.
Importance of Behavioral Science to Facilitate Insight Research
22 Oct 2020
Aarnesh Shrivastava, Team idStats.
Ten years ago, if you discussed behavioural science with a market analyst, chances are that they would have seen the theory as a strictly theoretical endeavour, or even understand it as something marketers would begin to incorporate in their campaigns in frustration. Just a few could decide how it will be used in future market research.
Impact of Eye Tracking Technology on Research and Insights
6 Nov 2020
Aarnesh Shrivastava, Team idStats.
Eye tracking is not a new development at all and is, in short, an eye activity measurement. In a research context, the application of eye tracking includes tracking the line of sight, how the pupil responds to different stimuli, and for how long the eye concentrates in one place, i.e. at a specific stimulus. You wouldn't believe the insight from examining respondent eye behavior that can be gained-not always a conscious decision.
Emotion Mapping
6 Nov 2020
Aarnesh Shrivastava, Team idStats.
When engaging with the brand or service, the term 'customer journey' describes each and every meeting a customer has; these can be direct or indirect. Of course, the journey involves purchasing experiences, but it goes beyond that, from the early moments when a consumer becomes conscious of your brand through their post-purchase experience, any loyalty building efforts you use and, eventually, brand advocacy. It is important to remember that every organisation's client journey is special.
Emotion Mapping: Understanding the Customers Emotions
20 Nov 2020
Aarnesh Shrivastava, Team idStats.
We recognize that our choices, as individuals and as consumers, are shaped by emotions. As marketers, we're involved in having a better experience for people making decisions about our goods. We are turning to analysis to do that. Our Questions: How do our goods improve the lives of people? What challenges are people facing next to the issues addressed by our products? What is the sense in which people use our goods and how can we help meet them where they are? And who are the individuals that use our products? What are their everyday lives like, and where do they fit in with our product?
Capturing Customers' Emotions: Creating an Insights Map
9 Jun 2021
Aarnesh Shrivastava, Team idStats.
Understanding consumer emotions is more crucial than ever, and including emotional states into customer journey maps is one of the most effective methods to turn this knowledge into action.
One of the most important functions of a customer journey map is to depict the customer's emotional state. While it is critical to precisely portray the customer's behaviour throughout their trip, a critical piece of the puzzle is missing unless emotion is also incorporated into the map.
Behavioral Science: What Researchers Need to Know
5 July 2021
Aarnesh Shrivastava, Team idStats.
Behavioral science has impacted a wide range of fields of research, both academic and commercial, and its influence is only rising. Researchers should keep an eye on this developing field and its implications for the future of market research. However, before we look to the future, we must first comprehend its impact on current market research.
It is all Play! – Exploring the Power of Lego Serious Play
16 Dec 2019
Aarnesh Shrivastava, Team idStats.
Today, study after study has proven that our brains are hard-wired to understand and retain stories, not to retain long lists of facts. This also holds true for stories vs. facts related to companies, brands and products.
Design Thinking Is Not A Process, It's A Mindset
17 Jul 2020
Aarnesh Shrivastava, Team idStats.
Through design thinking workshops several advertising agencies, marketing companies, UX studios and even freelance consultants unexpectedly discovered new revenue streams. Currently there are so many posts out there about how to grasp and master concept thought.
How can a Market Research Firm Apply Design Thinking Principles?
28 Sep 2020
Aarnesh Shrivastava, Team idStats.
The challenges we have as market analysts are always nuanced and multi-faceted, and our research priorities are continually changing toward the current fast-moving markets and evolving consumer and user needs. How do we answer these kinds of research questions in a way that facilitates, and even welcomes, this intangibility? The application of the concepts of design thinking to market research issues encourages researchers to do exactly this.
Impact of Design Thinking on Consumer Research
30 Sep 2020
Aarnesh Shrivastava, Team idStats.
Design thinking is an iterative method in which we aim to understand the consumer, question assumptions, and redefine issues in an effort to find possible methods and solutions that might not be immediately obvious with our initial level of understanding, "according to the Interactive Design Foundation."