As 2015 comes to an end and 2016 approaches, our team of stem cell analysts has been discussing how the new year will impact us, our partners, and our clients. As President/CEO of the first and only company specializing in stem cell markets, I spend a lot of time thinking about this topic. After substantial reflection on trends that gained momentum in 2015, I can can state with confidence that I believe the following trends will be major market research forces in 2016.
Market Research Predictions for 2016
1. Increased Utilization of Digital Content
For the first time in history, the average daily time that people spend consuming digital content has surpassed the average time spent watching TV. Therefore, market research providers now need to prioritize the use of electronic surveys, video conferencing for interviews, and other tools for immediately digitizing content. This approach will provide direct access to market participants, company executives, and industry thought-leaders. Importantly, it will also make content accessible in a format that users can consumed on multiple devices types, including phones, tablets, laptops, and more.
2. Multiple Research Inputs
Market research techniques and tools have grown exponentially over the past 2-3 years, so market research firms should now be using multiple inputs required to confirm key findings. It is no longer acceptable to make a trend statement based on a single data point.
3. Social Analytics
Finally, social analytics will be critical to assess in 2016, in addition to traditional metrics, because more than 82% of the global population is now engaging with online platforms, including social media and online search. Of course, Google is the global behemoth in online search, now dominating more than 70% of all search activity. Social analytics are user findings derived from social platforms, including Twitter, LinkedIn, Facebook, Google Search, Google Trends, and more. The importance of these social analytics is that they can reveal both individual user behavior on a topic of interest, as well as aggregate group activity.
As you head into 2016, seek out market research firms that are utilizing these “futuristic” techniques.
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BioInformant is the only research firm that has served the stem cell sector since it emerged. Our management team comes from a BioInformatics background – the science of collecting and analyzing complex genetic codes – and applies these techniques to the field of market research. BioInformant has been featured on news outlets including the Wall Street Journal, Nature Biotechnology, CBS News, Medical Ethics, and the Center for BioNetworking. Serving Fortune 500 leaders that include GE Healthcare, Pfizer, Goldman Sachs, Becton Dickinson, and Thermo Fisher Scientific, BioInformant is your global leader in stem cell industry data.
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