Gone are the days of manual market research analysis. Marketers no longer have to stand on the streets asking people if they remember any of the ads they read in a publication. Research back then took place at a small scope and occurred in a limited population. Marketers would have to make conjectures and even play guessing games to try and figure out how to attract their target audience and create products or services they might want. Nowadays, with the right market research insights platform or market research analysis software, analysts can collect and interpret more accurate data in less time.
Not all market research platforms and software are created equal, though. Some may gather information from unreliable sources or offer limited features that force analysts to pay for several different platforms to get everything they need. How, then, are you supposed to tell which ones to use? We have created this guide to help with that.
What Is Market Research Software?
Market research analysis software and platforms collect data about customer behavior and broader market trends. They help companies figure out who they want to target with their marketing efforts, what products and services to offer, and what feedback their target audience has. Once the software or platform collects the data, it will compile that data into dashboards and reports. These will make it easier for you to see, understand, and interpret the data. From there, you can make more informed decisions on how best to attract and retain customers.
PureSpectrum is one such market research analysis platform, which offers two technology platforms to aid in your quantitative research:
- Marketplace uses advanced technologies and automation to give you access to high quality respondents from over 60 countries.
- Insights platform enables you to target your audience, create customized surveys and gather real-time feedback that can be easily understood in a digestible analytics dashboard
Each of these individual platforms can be utilized on their own but are also integrated to provide a complete end-to-end research solution.
What Are Marketing Research Tools?
Market research software tools are mechanisms that do the work within the platform. For example, some tools help businesses send surveys to ask consumers for feedback, and then other tools gather it into one place. Still others can provide you with information on your competitors and on the profitability and reach of your own marketing efforts. To learn more specifically what some of the different market research tools are and what they do, let’s look at PureSpectrum’s platforms.
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Tools in the Marketplace Platform
- Automated Fielding ensures that your target audience will see and respond to your surveys.
- PureScore™ assures that only high-quality respondents answer your surveys.
- Panel Deduplication guarantees that each survey is from a unique respondent and that survey responses aren’t duplicated.
Tools in the Insights Platform
- Immediate access to primary demographic data
- Automated charts that can be filtered and compared on demand
- Included crosstab reports with data tables and stat testing
- Exportable data in Excel, PPT and SPSS for deeper analysis
- Trended Data from Multiple Collection Periods allows you to understand how effective your marketing efforts are over time so you can keep up with changes in your customers’ thoughts on your company.
When deciding which market research analysis platform to choose, make sure it has all the tools you need to gather a wide range of reliable data quickly.
How Do You Analyze Market Research?
Once you have all your research gathered, there are several ways to analyze it to better understand what you’re seeing. PureSpectrum offers several options:
- Dynamic Dashboards presentation ready dashboards available during data collection which allows users to filter, compare and analyze data in real-time.
- Automated Data Tables exportable stat tested tables available at the click of a button for more advanced analysis.
- Custom Reporting in-house researchers available to create custom reports in the form of pdf, powerpoint and excel based on client need. This will save time and allow the data to be presented in the format best suited for consumption.
Compiling all the data to conduct this analysis can seem daunting. With a market research analysis platform like PureSpectrum, though, you can see the results of your surveys in real-time, automate cross tabs, run significance tests, and more. You will save time collecting your data and can more easily analyze and act on it once it’s gathered into PureSpectrum.
Choose One of the Best Marketing Research Platforms: PureSpectrum
To create effective marketing strategies in an efficient manner, you need a platform that makes it easy to reach your target audience, gather their feedback, and analyze it. PureSpectrum is that platform. Not only will you be able to send out surveys and get back quality data, but you’ll also have a place to synthesize and analyze all of it. Our platform will even create graphs and charts for your reports and presentations in an instant.
To get started on your market research analysis, request a demo of our platform.
About PureSpectrum
PureSpectrum offers a complete end-to-end market research and insights platform, helping insights professionals make decisions more efficiently, and faster than ever before. Awarded MR Supplier of the Year at the 2021 Marketing Research and Insight Excellence Awards, PureSpectrum is recognized for industry-leading data quality. PureSpectrum developed the respondent-level scoring system, PureScore™, and believes their continued success stems from their talent density and dedication to simplicity and quality.
In the few years since its inception, PureSpectrum has been named one of the Fastest Growing Companies in North America on Deloitte’s Fast 500 since 2020, and ranked for three years in a row on the GRIT Top 50 Most Innovative List and the Inc. 5000 lists.