--- title: The Role of Market Research In a Big Data World description: Big data seems to have taken over the minds of modern marketers. But that is not to say online market research has lost its place. In fact, it is now more important than ever. image: https://blog.flexmr.net/hubfs/The%20Role%20of%20Market%20Research%20in%20a%20Big%20Data%20World.png --- close ## Ready to level up your insights? Get ready to streamline, scale and supercharge your research. Fill out this form to request a demo of the InsightHub platform and discover the difference insights empowerment can make. A member of our team will reach out within two working days. close ## Cost effective insights that scale Quality insight doesn't need to cost the earth. Our flexible approach helps you make the most of research budgets and build an agile solution that works for you. Fill out this form to request a call back from our team to explore our pricing options. 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[Listen Now](https://resources.flexmr.net/mrx-lab-podcast) - ### Featured Stories - [Specsavers Informs Key Marketing Decisions with InsightHub](https://resources.flexmr.net/specsavers) - [The Coventry Panel Helps Maintain Award Winning CX](https://resources.flexmr.net/coventry-building-society) - [Isagenix Customer Community Steers New Product Launch](https://resources.flexmr.net/isa-insights) - [Curo Engage Residents with InsightHub Community](https://resources.flexmr.net/curo) - [Tech & Trends](https://blog.flexmr.net/topic/tech-trends) / - [Research Methods](https://blog.flexmr.net/topic/research-methods) / - [Strategic Thinking](https://blog.flexmr.net/topic/strategic-thinking) / 5 MIN READ ## The Role of Market Research In a Big Data World #### Chris Martin # [Making VoC and CX Insight Work Across Departments](https://blog.flexmr.net/operationalising-voc-cx-programmes) Organisations have access to more customer feedback than ever before. So why does so little change? [Read more](https://blog.flexmr.net/operationalising-voc-cx-programmes) 5 MIN READ #### Alanna Moreland - [Events (1)](https://blog.flexmr.net/topic/events) - [Insights Empowerment (38)](https://blog.flexmr.net/topic/insights-empowerment) - [Practical Application (178)](https://blog.flexmr.net/topic/practical-application) - [Research Methods (285)](https://blog.flexmr.net/topic/research-methods) - [Strategic Thinking (235)](https://blog.flexmr.net/topic/strategic-thinking) - [Survey Templates (7)](https://blog.flexmr.net/topic/survey-templates) - [Tech & Trends (397)](https://blog.flexmr.net/topic/tech-trends) Big data describes the wealth of digital information produced by our interactions across the internet - the trails and footprints we leave. According to [IBM](http://www.ibm.com/big-data/us/en/), the term arises from the generation of constant, unrelenting information, defined by three distinct factors: velocity, volume and variety. It is believed that about 90% of the world's data has been produced in the last two years and the rate at which this is happening is only increasing. [SAS](http://www.sas.com/en_us/insights/big-data/internet-of-things.html) attributes the ferocious rise of big data to the increasing importance of the Internet of Things (IoT). This consists of three main components: the data producing devices, communication networks and computer networks that use this data. In fact, the IoT has become so sophisticated that much of the data produced by the internet is never even seen by human eyes. It has become its own self-sustaining eco-system. While marketers are excited by the prospect of being able to access an overwhelming amount of information about not only devices but consumers too, big data comes with a lot of challenges. One of the biggest is the sheer volume and variety of information produced. So, if the world is moving ever faster towards markets dominated by Big Data and the trends they predict, does market research have a place in it? And if so, what is it? ### The Power of Market Research Market research is and will continue to be a powerful tool long into the future. In fact. it is hard to imagine a world without it, and there is a very good reason for that. It is difficult to replace the sheer clarity of insight that well-defined market research can provide. While Big Data and the Internet of Things may be encroaching on the territory of market research, it is impossible to remove it completely. That is because, in addition to the analytical insights that market research can offer, it also provides something much more difficult to analyse - human behaviour. As a people, we do not always act rationally and our behaviour cannot always be predicted. This has always been the bane of market researchers everywhere. No matter the amount of data, nothing can compare to the insight gained simply from talking to others. This is where the real power, and value, of market research lies in a big data world. It may complement, it may contradict, but it is difficult to dispute the insight gathered from a deep and empathetic understanding of customer opinion. ### The Uniqueness of the Human Condition Even some of the biggest supporters of Big Data acknowledge that to use Big Data, you need Big Analytics. But what does this mean? It means that the wealth of data provided is, in many ways, too much. To be able to understand and interpret it we need tools that are up to the challenge. What is even more difficult is taking those findings and applying them to people. Big Data can identify trends on a massive scale. It can predict our behaviour on an individual, community or even ubiquitous level. However, the question it cannot yet answer is why. Often we make decisions that do not make sense. In fact, we often do not even understand our own decisions. For example, in the famous Coca-Cola/Pepsi blind taste test (dubbed the Pepsi Challenge) nearly all participants preferred the taste of Pepsi, but would still choose Coca-Cola. Big Data is capable of predicting the first half of that result, but not yet the second. For now, the only way we can understand people is to empathise and use our own experiences of people. ### The Accessibility of Data One issue with Big Data is how inaccessible it is to so many businesses. The sheer processing power needed to crunch the numbers is astounding and out of the reach of many businesses. Even when the technology does become widely available, it is likely that the analytical tools used to process the data will be kept tightly under wraps. The challenges of big data provide those who are able to understand it a huge competitive advantage. Therefore, to compete with numerical data on such a scale, businesses must ensure that their market research is detailed, accurate and relevant. While the largest companies may have access to the most sophisticated analytical technology, market research is a level playing field and one which aids those with the skill to conduct it correctly. ### Advances in Market Research While Big Data is evolving at an exponential rate, so too is the world of market research. We at FlexMR are at the forefront of this, pushing market research into the digital age. Online market research provides the same benefits as traditional formats, including depth. However, it is also much more interactive and introduces some new tools that can supplement and improve your insights. Big Data is here to stay. There is no doubt about that. But this will never replace the power of market research to understand human behaviour. Highly analysed data, combined with rich qualitative insight is still the best way for marketers to understand the subtle nuances of human behaviour. *To book a free trial of the FlexMR research platform and make use of our wide range of quant & qual tools, click [here](https://resources.flexmr.net/free-demo). Or, click [here](https://www.flexmr.net/services/) to read more about the flexible service levels we can provide.* #### About FlexMR We are The Insights Empowerment Company. We help research, product and marketing teams drive informed decisions with efficient, scalable & impactful insight. #### About Chris Martin Chris is an experienced executive and marketing strategist in the insight and technology sectors. He also hosts our MRX Lab podcast. #### Stay up to date ## You might also like... ![Blog Featured Image Header](https://blog.flexmr.net/hubfs/Marketing_Files/Blogs/Headers/retaining_human_touch_customer_salience_cx_ai.png) ### [Retaining a Human Touch with Custom...](https://blog.flexmr.net/customer-salience-cx-ai) In recent years, companies have embraced artificial intelligence (AI) at pace, swept up in a technological momentum that promises efficiency and cost savings. However, in their rush to pursue quickly ... [Continue reading](https://blog.flexmr.net/customer-salience-cx-ai) 5 MIN READ ![Blog Featured Image Header](https://blog.flexmr.net/hubfs/Marketing_Files/Blogs/Headers/casual_conversation_iosetta_santini.png) ### [A Casual Conversation... with Ioset...](https://blog.flexmr.net/casual-conversation-iosetta-santini) Most research projects still currently end with a powerpoint report and a debrief. 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