The hardest part of quantitative market research is not that it involves numbers, math, or even statistics, but that it involves complex problems in probability. Over the past several years, psychologists have been documenting how difficult it is for us humans to solve even “simple” probability problems. One fascinating example is a puzzle known as…
Learning the math behind market research is not easy because there is no programmatic way to master it as a body of learning. It is not like algebra, geometry, calculus, or statistics in high school or college. It is complex and multifaceted and draws upon nearly every area of theoretical mathematics, but it must be…
Our March 2011 newsletter focuses on conjoint research, which we consider to be one of the most clever and powerful techniques of survey research. Why? Because it allows us to build working models of decision-making. Conjoint works by presenting people with scenarios that are more like the real-life trade-offs they always make. For example, instead…
Last quarter we wrote about Magic Numbers in Market Research—those arbitrary rules of thumb and cut-off points we use when quoting things like minimum samples sizes or how many people to include in a focus group. Presto! Like magic, the issue appeared in the New York Times a few weeks ago, this time related to…
In a recent survey we fielded among B2B decision-makers, respondents told us how much they liked participating in the study compared to other research studies they have done. They said it was “real” and interesting because it was confronting them with questions that reflect the kinds of decisions and trade-offs they make every day in…
With the magic of the holidays upon us, we got to thinking about “magic” in market research, or the lack thereof. So our just- published quarterly newsletter focuses on magic numbers in market research, arguing that certain “magical” numbers seem to guide much of what we do, whether we realize it or not. The best…
Doing “statistics” strikes fear in the hearts of many, so how about if we talk about “algorithms” instead? It’s a safer word because most people in the worlds of business and market research never have to take (or fail) a course in algorithms. Algorithms are central to the work that we do in business and…
As an industry driven by data and information, market research and public opinion polling has seen dramatic changes in the last ten years and will no doubt change quickly and in big ways during the next ten. Looking back, here are what we consider to be the five biggest changes that shaped current challenges faced…