Crowdsourcing vs Traditional Market Research
The ways in which companies gather market research are changing. Traditional market research methods such as surveys and focus groups have been the standard for decades but crowdsourced market research has shaken up the status quo. This new approach allows businesses to tap into the collective intelligence of a large group of people to gain insights they wouldn’t get from traditional methods alone and do it faster.
Benefits of research apps
While traditional market research has its advantages, online market research apps utilising crowdsourced data offer many benefits that make them worth considering.
Online market research apps are typically far more affordable than using traditional market research companies. Projects can be quickly created within the app and sent out to participants with a few clicks. Setup is not only convenient and fast but responses in most cases can start being received within hours.
Flexibility is another big advantage if you’re working on a tight deadline as research can be done from anywhere at any time.
Available target audiences are often very large – FUEL’s own market research app, InsightFUEL, provides access to more than 100,000 participants – and detailed demographic profiling built into the product allows for defined targeting. Reporting dashboards give users access to a large amount of data in real-time. These are just some of the many advantages such apps have over traditional market research.
Beyond crowdsourced data
There are now many crowdsourced market research (CMR) apps in the market that can be used to run surveys, product sampling and more. With FUEL’s company focus being online training, we decided to expand our platform’s capability so that it operates in conjunction with any corporate training programmes.
InsightFUEL uses AI and machine learning to automatically evaluate the market research data it collects against training content and objectives. The platform identifies issues and recommends specific actions. It runs with any learning management system while FUEL manages the solution for you to ensure great results and smooth operation.
Our platform, with its automated actionable insights, provides even more of an advantage over traditional market research. In addition to being much faster, more efficient, and accurate, InsightFUEL is highly customisable allowing it to deliver improved training results.
This type of automation linking market research to training programmes has the potential to revolutionize the way market research data is used.
To find out more about InsightFUEL please feel free to get in touch with us at info@fuelonline.co.za or visit https://www.fuelonline.co.za/insightfuel
