More than one in two do not have enough time for their research projects. Around 80% reported that they spend too much time trying to understand results or waiting for results. The use of automated methods and artificial intelligence (AI) is a crucial part of successful, future-proof insights management.
quantilope publishes the Insights Report 2021 with the latest figures from the industry survey and the most important current trends.
Although the overall mood in the insights industry is good, the results of this study clearly show that a large proportion of companies and service providers are in the throes of change and are struggling to keep up. More than half of the respondents are not currently working in an agile environment. Corporate structures are still too rigid and there is a lack of knowledge and capacity. A significant amount of time is
being devoured by tasks that are not actually part of the insights projects or is being spent waiting for results. The respondents reported that the lack of time during day-to-day work is having negative consequences, such as teams delaying projects, foregoing quality, or even doing without research completely and making decisions based on gut feelings instead.
You have stated that you usually (tend to) not have enough time for your research projects.
How do you solve this bottleneck?
Compensating for a lack of time in insight management
Source: Insights Report 2021, quantilope
81% of the respondents agreed with the statement that market research needs to become more modern and agile, suggesting that there is a huge call for this to happen. Over 70% believe that the future will be shaped by automation and artificial intelligence (AI).
The Insights Report 2021 provides a comprehensive presentation of the study’s results.
Get the whole report now!
About the study
The Insights Report 2021 is based on an industry study conducted by quantilope between December 2020 and January 2021. The study surveyed more than 120 people in Germany who have a professional connection with the insights industry. 61% stated that they worked on the client side of the industry (e.g. in-house market research or marketing departments), while just under 40% said that they worked for a market research service provider (e.g. market research institute, agency, or consultancy).
All results were captured through quantilope's Agile Insights Software, using automated, advanced methods (e.g., Maximum Difference Scaling, Key Driver Analysis, and Total Unduplicated Reach and Frequency (TURF)).