Since ChatGPT burst onto the scene in 2022, Generative AI has promised to transform the way we work. And many companies have taken note.
As more and more organizations plan to integrate this technology into their operations, it’s clear that generative AI's popularity will only continue to grow in the business sector.
One industry that is especially poised to reap the benefits of these recent advancements is market research. For most insights and research professionals, embracing this new technology isn't merely an option; it will be the key to unlocking a new realm of possibilities.
So as generative AI becomes more ubiquitous in our industry, those who understand how and when to use it will find success. That's why we are sharing tips and best practices from our very own AI experts:
What is Generative AI?
Generative AI is a type of artificial intelligence designed to generate new content, like text, images, audio, or video. Unlike traditional AI systems that rely on explicit programming and rule-based logic, generative AI leverages advanced machine learning techniques to understand and mimic patterns in the data it's trained on.
In the context of language models like GPT-3 (Generative Pre-trained Transformer 3), generative AI is capable of generating coherent and contextually relevant text based on the input it receives. It can understand context, follow the structure of language, and produce human-like responses. While image models like DALL-E are able to develop images from scratch based on the text descriptions you give them.
This technology has great potential to automate tasks, enhance creativity, and assist in complex problem-solving scenarios.
How to Use Generative AI in Market Research
Using Generative AI tools built specifically for market research, like SightX’s Ada, can help you unlock a new realm of possibilities. Some of the most common uses include:
Strategic Research Recommendations
Not sure where to start? Share your challenges, objectives, and long-term goals with Ada. She’ll sift through SightX's extensive experiment and template library to find the tests and tools perfectly tailored to your needs.
AI-Designed Surveys
Not sure what questions to ask or how to ask them? Give Ada some context and she will use the power of generative AI to build custom surveys that give you the answers you need to meet your goals.
Launch Studies Effortlessly
Selecting the correct sample size is crucial to the precision and accuracy of your data. If your sample is too small, you will undermine the accuracy of your results. But, on the other hand, small differences can quickly morph into (seemingly) significant insights when your sample is too large. So it's time to gather responses, collaborate with Ada to receive custom recommendations for the ideal sample size for your unique research project.
Data Deep-Dive
Have questions about your research data? Just ask! From audience segmentation to sentiment analysis and complex pivot table insights, Ada will bring you the answers you need instantly.
Snapshot Summaries & Key Insights for Executives
Don't get caught up in the data deluge; get straight to the insights that matter. Let Ada skillfully condense your insights into high-level summaries that equip decision-makers with the information they need to make better product, marketing, pricing, and brand decisions.
Transform Feedback into Marketing Assets
Applying your new-found insights to your business is the most important step in any study. And with Ada, it's become simpler than ever. Let Ada take the feedback you collected and use it to create custom marketing materials perfectly tailored to your audience. Be it helpful blog posts or standout social campaigns, Ada uses a data-driven approach to develop assets your audience will actually want to interact with.
4 Tips for Using Generative AI for Your Market Research
1. Be Clear and Detailed in Your Prompts
To get the best results when working with Generative AI, be as specific as possible about what you need and share context about your business, challenges, and goals.
You should also keep in mind that you don’t need to get everything into your first prompt. You can build off of previous prompts in a conversational way by sharing additional details or adding context in subsequent messages.
2. Look for Placeholder Information
After Ada has generated a test for you, take a moment to check through all of the questions and answer choices to find and replace any placeholder information. You’ll need to fill in specific details like brand, product, or competitor names before launching your survey!
3. Check the Formatting and Add Any Needed Logic
Next, you’ll want to check the formatting and flow of your survey. For multiple-choice questions, answer options should be randomized where applicable. For questions that include details about a respondent’s past selections, you will need to confirm that survey logic has been set up and is working correctly.
4. Test your survey
This one might seem simple, but we’ve included it for a reason.
Before you send your survey off to hundreds (or thousands) of people, make sure to test it yourself. When viewing it from a respondent’s point of view, you may catch issues you would have otherwise missed. So don't dismiss the power of a good practice run!
Generative AI with SightX
At SightX, we have always pushed the boundaries of market research. Our powerful tools, advanced methodologies, and automated systems have made our client’s lives easier for years.
But with our new Generative AI research consultant Ada, we are changing the game.
By harnessing the power of OpenAI’s GPT, Ada is ready to transform your marketing research and insights workflows. Collaborating with Ada is like having an expert researcher, brilliant statistician, and ace marketer on your team; helping you ask the right questions, choose the best experiments, pick out key insights, and seamlessly apply them to your business.
If you’re ready to give Ada a try, sign up for a free Lite account:
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