Exploring expert views on AI and the role of ‘stats’ in market research
Machine Learning (ML) is everywhere, from social media and virtual assistants to financial services and data security. For sales and marketing professionals, machine learning offers unprecedented analysis of big data. It holds the potential to decode increasingly layered buyer journeys. However, does machine learning truly have a role in market research, a field where we rely on analytical methods to understand nuanced and complex decision-making? Or, is statistical thinking still the essential analytical element behind the insights we deliver today?
These were the questions posed during the 2019 MRS Data Analytics conference held in London. I joined peers from Sky, Boxclever and Honeycomb to explore this topic during the “The Role of Statistics and Machine Learning in market research” panel.
Here’s what we had to say and what you need to know about the future of market research.