This blog includes a list of some AI market research tools on the market that will modernize the way you gather valuable customer feedback.
AI market research tools are research solutions grounded in AI technology - such as automated survey creation, automated data cleaning, automated report generation, and more. AI tools for research methodology separate themselves from traditional research agencies by offering a user-friendly way to speed up project timelines without sacrificing quality or substance.
Below we'll dive more into what AI market research tools are, how they can accelerate the research process, and some tools to consider.
Table of Contents:
- What are AI market research tools, and how do they work?
- How AI tools can accelerate your market research
- How quantilope uses AI for market research
- AI tools to consider
What are AI market research tools, and how do they work?
AI market research tools are software and platforms that leverage artificial intelligence, particularly machine learning, to automate, enhance, and accelerate various aspects of the market research process. Traditionally, market research processes are known to take weeks - even months! - for survey creation, data collection, data analysis, and report creation.
Today's businesses are being held to much faster turnaround times, with stakeholders looking for insights as fast as possible to stay ahead of their competition and relevant in their category. AI market research tools are the answer to those needs, revolutionizing how businesses gather and analyze consumer insights for faster, more efficient, data-driven decision-making.
AI tools work by gathering data or information (from social media conversations, website data, survey insights, and so on) and using advanced algorithms like natural language processing (NLP), machine learning, and predictive analytics, to form hypotheses or takeaways from that information. These tools often have reporting features where they can instantly summarize the gathered information into reports, dashboards, or other visualizations and highlight key insights.
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How AI tools can accelerate your market research
Because AI tools are dramatically shortening turnaround times without sacrificing quality, researchers have more time to focus on higher-level activities like data interpretation and strategic decision-making. As an added benefit, by using AI tools, researchers minimize the risk of human error and bias in their data analysis, leading to more accurate and objective results.
But AI tools are capable of assisting beyond surveys analysis, and automated data visualization. These tools can also assist with more high-level, strategic tasks, such as generating creative marketing copy based on research findings or summarizing complex reports into easily digestible takeaways for stakeholders.
All this to say, AI isn't replacing the need for market researchers; instead, it's taking over their tedious, day-to-day tasks so valuable researchers can spend more time focusing on how the insights actually impact and accelerate their business. These tools can be thought of as a co-pilot, allowing research teams to get more done in less time.
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How quantilope uses AI for market research
quantilope continues to grow and advance it’s AI capabilities that have formed the foundation of the Consumer Intelligence Platform since day one.
With one of the largest suites of advanced research methodologies powered by machine learning and AI, survey building templates, automated survey analysis, LOI automation, and AI-generated insight summaries, quantilope is grounded in AI-powered tools for a seamless end-to-end research experience.
quantilope views AI as one of the best research Co-Pilots a brand can leverage for their insights process - from developing effective marketing strategies using data-backed insights to streamlining a product development team’s workflow based on current customer needs and trends, AI analysis tools allow brands to do more with less - without sacrificing quality.
AI tools to consider
1. quantilope:
quantilope was built with AI at its core. At each step of the end-to-end research process, quantilope optimizes the platform experience so that researchers can focus more of their valuable time on delving into actionable insights - not on the tedious research processes.
Key AI features of quantilope:
Below are some AI features that have been central to quantilope’s platform experience since day one:
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Automated survey setup: Build your survey from scratch with a pre-programmed library of questions and methods, or, leverage an automated survey template that provides a customizable foundation to get you started.
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Automated advanced methods: Choose from a market-leading suite of 15 advanced research methods - automatically programmed and ready to drop into a survey in an instant. Each method is also automatically analyzed using machine learning algorithms.
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Automated LOI prediction: Ensure a strong respondent experience through an automated LOI (length of interview) prediction - letting you know how long it will take the average respondent to make their way through your survey.
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Automated charting: Monitor data in real-time and watch as it’s automatically populated into your existing data charts and reports.
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Automated emotion and sentiment analysis: quantilope’s qualitative video research solution, inColor, takes respondent video feedback and automatically analyzes it for keywords, emotions, and sentiment.
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As AI continues to positively disrupt traditional ways of research, quantilope continues to evolve as well - as demonstrated with the launch of its advanced AI co-pilot, quinn! quinn provides researchers with guidance and support throughout the end-to-end research process, from setting up advanced survey questionnaires to generating insights for dashboard headlines/summaries.
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- Using quinn for survey setup:
quinn streamlines the survey setup process by leveraging AI to instantly generate a list of advanced method inputs (such as dynamic elements for an Implicit Association Test). Not only does quinn speed up the advanced method survey setup process, quinn also inspires researchers with survey inputs that researchers may not have thought of themselves. Regenerate quinn's suggested inputs as many times as you like, or manually customize as needed. - Using quinn for report automation:
quinn can generate chart headlines and entire dashboard summaries in mere seconds, allowing research teams to spend more time actually digesting and acting on insights. Not only does quinn generate the content of these reporting elements, quinn also applies the same style, tone, and formatting used throughout the dashboard, leaving researchers with minimal (if any) manual edits.
- Using quinn for survey setup:
quantilope’s AI features and tools (especially quinn) solve the research dilemma of having too many research requests with not enough hands or resources to do them. Researchers can lean on quinn as their always-available collaborative partner to build new projects and analyze results even faster than before.
See quantilope's AI in action in this on-demand webinar:
2. Speak
Speak is an AI-based market research tool that specializes in turning unstructured audio and video feedback into actionable consumer insights through natural language processing (NLP). Research teams can use Speak to convert consumer interviews, digital recordings, YouTube videos, podcasts, focus groups, etc. into an actionable data set.
Key Features of Speak:
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Automated transcription: Speak lets researchers convert their audio and video into text using automated transcription tools.
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Speak Magic Prompts: This feature of the platform lets researchers leverage recommended prompts rather than have to create their own from scratch.
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Bulk analysis: Speak users can import individual files or upload in bulk depending on their research needs.
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Integration capabilities: Speak lets users create directly in the Speak platform, or use video integrations like Zoom, YouTube, Vimeo, and more.
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3. Appen
Appen is a market research solution providing a broad range of data services, from data collection, to data preparation, model evaluation, ad evaluation, benchmarking, and more. Their products serve as a way to gather large volumes of data for training and AI testing purposes.
Key Features of Appen:
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AI Training Data: Appen provides companies with training data to develop and fine-tune AI models. The training datasets teach the AI systems how to correctly perform specific tasks so that companies can confidently use the AI models for real business objectives.
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Data Annotation: Appen offers data annotation services for all types of datasets - such as images, videos, audio files, text feedback, and more.
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Linguistic services: Natural language processing (NLP) is another area of focus for Appen, including text generation, text classification, translations, scripting, language tag predictions, and more.
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4. Pecan
Pecan is a predictive analytics platform that leans on machine learning and AI to turn imported data sets into actionable predictions - such as customer retention rates, demand forecasting, campaign optimization, and return on investment. The platform works by analyzing the imported data sets to answer a user-prompted business question - like ‘X Days after initial install, predict whether customers will spend more than $X by day 30.”
Key Features of Pecan:
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Predictive analysis: Pecan users can ask straightforward questions about their data set, and receive a predictive analysis back within a few days. Users can even schedule recurring predictions in the future.
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Data integrations: Unlike other market research platforms where users set up and run their studies on the platform itself, Pecan works by integrating with other software tools to import existing data sets for analysis. They integrate with popular software tools like Salesforce, Oracle, and Amazon S3.
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Information Security: Pecan prioritizes data security through protocols such as authentication, cryptography and encryption, cloud data storage, and an incident response management team.
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5. Crayon
Crayon is a market research tool/software platform that’s focused on providing its users with competitive intelligence. Their AI-powered analysis engine sorts through competitor metrics and sends automatic alerts with relevant information so that sales and marketing teams can work more efficiently.
Key Features of Crayon:
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Multi-sourced information: Crayon captures real-time competitive intelligence from a number of sources such as competitor websites, review sites, and publications.
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Sales battlecards: Crayon users can connect their existing battlecards to the platform’s feed of competitive intel for a real-time source of truth.
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Integrations: Users can integrate their battlecards and other information within Crayon’s platform with software such as Salesforce, HubSpot, and Slack.
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6. Hotjar
Hotjar is a user experience (UX) tool that provides businesses with valuable information on how users are interacting with their website. Visual heatmaps represent where website surfers are clicking or scrolling. The site uses AI features such as a feedback popup asking for consumer satisfaction on the site and targeted surveys to better understand your target audience.
Key Features of Hotjar:
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Recordings: This feature of the Hotjar platforms lets brands see what users see when they visit their website. The recording tracks mouse movements, clicks, and other user interactions in a live playback fashion.
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Feedback popup: Hotjar’s Feedback popup leverages AI to present website visitors with a real-time suggestion box to voice their frustration or delight with the website.
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Surveys: Hotjar lets you send targeted surveys to live users on your site to validate business ideas in real-time.
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Interviews: Hotjar’s Engage tool hosts 1:1 interviews with users and records/transcribes the video feedback for valuable insights.
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7. ChatGPT
ChatGPT is a great tool to use across several stages of the market research process. From asking the AI-driven platform to generate a list of potential survey questions to using the tool to draft insight summaries, ChatGPT can save research teams a lot of time and resources.
Key Features of ChatGPT:
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Competitor analysis: ChatGPT users can ask the OpenAI platform for paragraphs or a bulleted summary list of intelligence on their closest competitors. This can be helpful when thinking about creating a new product or marketing campaign - to see what your competitors are doing in the same space.
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Market trends and insights: Ask ChatGPT for the latest market trends and insights to stay on top of consumer behavior changes and include related questions in your own online surveys.
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Email campaign creation: ChatGPT can draft personalized emails to specific consumer groups (such as high-quality prospects or certain customer segments).
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8. Browse AI
Browse AI is an AI tool that can extract data from any website and analyze it - with the hope of creating a more equal and accessible internet environment. The tool uses ‘Pre-built Robots’ to extract data into a self-filling spreadsheet and to monitor information like search results or new business listings.
Key Features of Browse AI:
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Data extraction: This is a main feature of Browse AI’s business, and one that extracts important information in a seamless manner (such as new LinkedIn job postings, new Apps on the market, new services available in a category, new property listings in the real estate market, and other relevant information based on your industry.
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Data monitoring: The monitoring tool within Browse AI alerts companies of relevant changes - such as when a certain company’s details change on a LinkedIn page or when Google search results change.
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No-coding browser extension: Browse AI lets users extract and monitor data simply by adding a browser extension - no coding background required.
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9. Brandwatch
For businesses looking to monitor and analyze their social media presence - or that of competitors, Brandwatch is a great tool to leverage for social listening. The platform works by aggregating relevant social media posts, comments, mentions, and conversations, then segmenting the feedback into certain topics or opinions, and finally, using AI to analyze the results.
Key Features of Brandwatch:
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AI analyst: The analyst automatically pulls and aggregates social media information instantly for your brand to use in decision making.
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Image analysis: AI features are not limited to text with Brandwatch; the tool can analyze objects, scenes, and logos as well.
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Auto segmentation: Using machine learning, Brandwatch can automatically segment your dataset into any classification you might need.
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AI-powered search: The AI-powered search feature of the platform lets users instantly search for any brand name or mention within their data set.
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10. Glimpse
Glimpse is an AI-powered market research platform helping businesses identify emerging trends. This AI tool is useful for researchers crafting new consumer behavior surveys, marketers building new campaigns, strategic planners anticipating upcoming behavioral shifts, and product developers looking to get a head start on prototyping.
Key Features of Glimpse:
- Trend identification: Glimpse analyzes data from all over the web - including search trends, social media conversations, online reviews, and e-commerce sites to detect early signals of emerging trends in the market. This allows businesses to identify new product or service opportunities before they become too saturated.
- Data visualization: Glimpse offers interactive dashboards so platform users can easily explore trends and narrow in on certain insights by filtering on demographics and other criteria.
- Sentiment analysis: Glimpse uses AI to analyze the sentiment of online trends, helping businesses understand not just the trends themselves, but how consumers are feeling toward/about them - whether they're excited, skeptical, concerned, and so on.
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Emerging trends shaping the future of AI in market research
AI is rapidly changing the landscape of market research, offering new tools and techniques for understanding consumer behavior. While AI tools will never totally replace the need for market researchers, they will continue to make market researchers' lives more efficient. Here are a few key trends shaping this transformation:
- Advanced predictive analytics:
AI algorithms are moving beyond basic reporting and are now capable of forecasting future trends with increasing accuracy. By analyzing vast datasets, including historical sales data, social media sentiment, and economic indicators, AI can predict market shifts, identify emerging opportunities, and help businesses proactively adapt their strategies. This allows companies to anticipate consumer needs and optimize product development, marketing campaigns, and pricing strategies. - Hyper-personalization:
AI is enabling a new level of personalization in market research. By analyzing individual customer data, AI can identify preferences, predict future behaviors, and tailor unique experiences. This granular level of understanding allows businesses to target specific customer segments with highly relevant messages and offers, leading to increased engagement, conversion rates, and customer lifetime value. - Automation of mundane tasks:
As mentioned above, AI won't replace the value of human researchers, but it will automate the many time-consuming and repetitive research steps they're traditionally tasked with. This includes tedious and error-prone data cleaning, manual survey programming, and lengthy report generation. By freeing up researchers from these types of activities, they can focus more of their valuable time on higher-level, strategic tasks like data interpretation and creative problem-solving. This shift not only increases efficiency but also enhances the overall value and impact of market research for an organization.
As AI continues to evolve, we can expect even more innovative applications in the field of market research, leading to richer insights, more effective strategies, and stronger customer relationships.
To learn more about quantilope’s existing and upcoming AI features, get in touch below!
