Why Are We Talking About New Paradigms in Market Research?

28 Feb 2020

Aarnesh Shrivastava, Team idStats.

In House

Traditions in market research are brief and often taken down by advancements in technology and technique. The balance between man and machine is crucial to handling endless streams of data.

What is the difference between qualitative versus quantitative research?

7 Jul 2020

Aarnesh Shrivastava, Team idStats.

In House

Our creative and experienced Company is proud to provide professional web development and mobile application services. We have a team of award-winning web designers and developers passionate about creating something special for each client. We aim to make useful innovative products which are easy to use, look great, and work really well.

Brand Culture’ – Your Magic Potion For Marketplace Success

16 Dec 2019

Aarnesh Shrivastava, Team idStats.

In House

‘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

External Source

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.

External Source

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.

4 Trends to Ride the Imminent Grocery Disruption

28 Feb 2020

Aarnesh Shrivastava, Team idStats.

In House

Traditions in market research are brief and often taken down by advancements in technology and technique. The balance between man and machine is crucial to handling endless streams of data.

Trends in Market Research

30 Jan 2020

Aarnesh Shrivastava, Team idStats.

In House

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.

In House

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.

In House

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.

In House

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

External Source

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

External Source

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.

In House

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.

In House

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.

Conjoint Analysis: A Market Researchers’ go to Statistical Model

29 Jul 2020

Aarnesh Shrivastava, Team idStats.

In House

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.
Learn more about this type of statistical analysis by clicking the button below.

The Power of Branding: A Brand Essence Analysis

31 July 2019

Aarnesh Shrivastava, Team idStats.

In House

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.

In House

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.

In House

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.

In House

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 House

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.

In House

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.

In House

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.

An Insight to Data Mining

21 May 2018

EduPristine

External Source

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.

In House

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.

In House

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.

In House

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.

In House

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.

In House

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.

Training’s Renewed Role in a Rapidly Changing World

15 Jun 2020

Aarnesh Shrivastava, Team idStats.

In House

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.

A Deep Dive into the Customer Feedback Loop

28 Sep 2020

Aarnesh Shrivastava, Team idStats.

In House

A perfect method for gathering and applying customer reviews is the Customer Feedback Loop. If you want to get a working understanding of the interactions of your consumers with a product, website, service, etc., this is one of the most important techniques to incorporate.

What is the difference between artificial intelligence and machine learning?

7 Jul 2020

Aarnesh Shrivastava, Team idStats.

In House

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.

In House

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 House

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.

In House

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.

In House

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.

In House

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.

In House

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.

In House

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.

In House

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.

In House

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.

In House

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.

In House

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.

In House

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.

In House

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.

In House

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.

In House

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.

In House

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.

In House

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.

The widening world of Mobile Ethnography

25 Feb 2020

Aarnesh Shrivastava, Team idStats.

In House

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…

Humans, Machines and Conversations: How AI is optimizing Ethnography

18 Sep 2020

Aarnesh Shrivastava, Team idStats.

In House

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.

Some Real-World Examples of Ethnographic Research

30 Sep 2020

Aarnesh Shrivastava, Team idStats.

In House

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.

It is all Play! – Exploring the Power of Lego Serious Play

16 Dec 2019

Aarnesh Shrivastava, Team idStats.

In House

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.

In House

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.

In House

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.

In House

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."

How to Build a Luxury Brand

16 Dec 2019

Aarnesh Shrivastava, Team idStats.

In House

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…

Contemporary Youth Culture in India as seen through a Semiotic Lens

16 Dec 2019

Aarnesh Shrivastava, Team idStats.

In House

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…

Facial Coding (FACS)

16 Dec 2019

Aarnesh Shrivastava, Team idStats.

In House

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.…

Eye Tracking (TOBII)

16 Dec 2019

Aarnesh Shrivastava, Team idStats.

In House

“Where words are restrained, the eyes often talk a great deal” – Samuel Richardson Eyesight is the most advanced senses we have. Vision is a reflection of our understanding of the exterior world. How we shift our gaze from one…

Standing Apart In The Rain forest

16 Dec 2019

Aarnesh Shrivastava, Team idStats.

In House

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 Behaviour

16 Dec 2019

Aarnesh Shrivastava, Team idStats.

In House

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.

In House

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…