What do you do if your market research data is obtained through new technology?

1 Choose the right technology

Before you decide to use new technology for your market research, you need to have a clear purpose and a realistic budget. You also need to consider the ethical, legal, and technical implications of your choice. For example, if you use artificial intelligence to analyze customer feedback, you need to ensure that your algorithm is transparent, fair, and accurate. If you use biometrics to measure emotional responses, you need to obtain informed consent and protect the privacy of your participants. If you use blockchain to store and share your data, you need to understand the costs and risks involved. You also need to make sure that your technology is compatible with your research design, methods, and objectives.

2 Validate your data

Using new technology can generate large amounts of data, but not all of it may be relevant, reliable, or valid. You need to validate your data by checking its sources, methods, and quality. You also need to compare your data with other sources, such as secondary data, industry benchmarks, or previous studies. You can use techniques such as triangulation, cross-validation, or peer review to verify your data. You also need to be aware of the limitations and biases of your technology, such as data gaps, errors, or assumptions. You need to acknowledge and address these issues in your analysis and reporting.

4 Communicate your findings

Using new technology can help you communicate your findings and recommendations to your stakeholders, such as clients, managers, or investors. You can use formats such as reports, presentations, or podcasts to share your results in a concise and compelling way. You can also use methods such as storytelling, infographics, or testimonials to highlight your key messages and stories. You need to tailor your communication to your audience, and use language that is clear, relevant, and persuasive. You also need to provide evidence, context, and implications for your findings, and invite feedback and questions from your stakeholders.

5 Learn from your experience

Using new technology can be a learning opportunity for you and your organization. You can use your experience to evaluate the effectiveness, efficiency, and impact of your technology. You can also use your experience to identify the strengths, weaknesses, and opportunities for improvement of your technology. You can use methods such as surveys, interviews, or focus groups to collect feedback from your stakeholders, participants, and team members. You can also use methods such as audits, reviews, or case studies to document your lessons learned and best practices. You need to use your feedback and findings to inform your future decisions and actions, and to share your knowledge and insights with others.