During the Market Research Society virtual awards ceremony earlier this week, Jane Frost, CB, CEO of the organization, said “Market Research is a critical part of society’s sustainable recovery.” This phrase stood out to us, because even as the awards celebrate innovation and forward-thinking projects in consumer insights and market research, we are still in the midst of a very real crisis around the world.
Why is market research important to our recovery? Throughout the COVID-19 pandemic, data has been relied upon not only by people looking for information, but also by experts and officials making important decisions to curb the virus. In the market research space, insights companies everywhere have been conducting studies to help brands and businesses understand their audiences during a time of immense change. In some cases, researchers are sharing their relevant findings and resources with decision makers.
It’s easy to see how research has been a vital part of navigating the crisis, as every trusted news article includes some type of data. While most things in 2020 have been quite challenging, this reality provides a wealth of exciting opportunities for research and the need to understand consumer behavior has become even more central to success.
We wrote last month about how the turning over of the year to 2021 won’t change much when it comes to the need for consumer insights. This is true. It’s also true that insights and data will indeed play a role in our recovery. We need to ensure that we are uncovering them in the most efficient and effective way possible, for fast access and easy sharing.
This means tapping into the right technology to accomplish critical objectives. One that is specifically designed to handle both aggregate and raw data, while automating report generation can help. OfficeReports offers the industry’s only solution that is fully integrated into Microsoft Excel and PowerPoint for easy data analysis and reporting. This means those handling the data can work in an interface they already know and use on a daily basis.
There’s no doubt that information is power. Market research can deliver that information, and give the world the ammunition it needs to forge a data-driven path to recovery. Even as more and more places enact more stringent regulations due to increased virus outbreaks, we are concurrently seeing hope in the form of vaccines and treatments. Research will be vital in tracking any successes (or failures) in the months to come, as well as the public’s reactions and feelings about whatever the current situation may be. This data will help us find our way to “sustainable recovery.”