Mission Report: Research & Results Munich 2017
Each year, at the end of October, Munich is the place to be for all market researchers. The reason is one of the most renowned market research trade shows in Europe, with around 180 exhibitors and more than 3000 visitors: Research & Results.
As per its own description, Research & Results is a market research trade show in Germany with a clear focus on business networking.
At Questia Group, we are always striving to innovate in market research, to find new solutions for old problems. Far from us, though, to claim that we are the only ones trying this fresh approach. And we are well aware that in order to do things a bit different than the other players of the game, we constantly have to keep up to date with what the actual game is.
So we went to Munich. And the omens were great: where Questia goes, the sun shines! (We were lucky to get the only two sunny days in an otherwise cloudy and rainy week.)
The trade show was very well organized and each exhibitor tried to outshine the others with very interesting stands. There was also an "innovation area" where short presentations were made regarding the more and more pronounced impact that technology and software are having on market research. And for those hungry for data and some in-depth analysis, eight workshops were available where some of the exhibitors presented ample studies and/or product features.
image source: unsplash.com
It was clear from day one that the words on everyone's lips were social media and artificial intelligence. Actually, those two were almost always spoken of in the same context: in order to analyze the verbose and very noisy results of social media listening, AI must come into play, and with it there are many things already possible: noise reduction, semantic analysis, sentiment analysis, emotion analysis and even image processing (more and more people share images only, or text and images). Combine all of these with online surveys and/or communities and you get a whole bunch of new market research flavors.
In terms of AI, a certain type of machine learning is already available today for market research via social media: Supervised learning. And the results are quite promising. You can read more about this here, here or here.
There were many more subjects that were tackled at the trade show, some more interesting than others; we will not go into detail with each of them, instead here's a short list with the ones worth mentioning:
- 2018 GDPR - everyone is curious about how is that going to play out
- Eye tracking software and its use in research
- Growth in % of surveys done using digital methods: 27% in 2009 vs 54% in 2017 in the US (source: ESOMAR)
- Studying Generation Z and social media
header image source: research-results.com