Is Big Tech Eating Our Lunch?
Do tech people know more about market research than social scientists?
Recently, I came across a sentiment that resonated deeply: "We live in an age where tech people think they know more about market research than a sociologist."
Undeniably, technology has revolutionised market research methodologies, providing tools of unprecedented power and precision. Data science, artificial intelligence and machine learning promise almost instant insights, distilling vast data sets into concise, actionable strategies. As technology companies move into areas traditionally the province of market research, it might appear at face value that the researcher's traditional expertise - the subtle, nuanced understanding of human behaviour - is becoming sidelined.
First principles
I'm not so sure. The foundational principle of market research has not fundamentally changed. At its heart, effective research is not solely about data; it is about insight and understanding the nuances, contradictions and subtleties of human behaviour. Here, human understanding remains irreplaceable. While algorithms can identify patterns within data, researchers interprets the significance of those patterns within a cultural and emotional context.
This brings me to a vital realisation that while technology undeniably enriches our toolkit, sociological understanding ensures we remain connected to the complex, emotional and often unpredictable human factors that drive true consumer insight.
The human factor
Algorithms, as advanced as they have become, do not yet comprehend irony, hidden social pressures or cultural subtleties. Human life rarely fits neatly into binary code or statistical categories.
But ignoring technological advances would be equally misguided. The data-driven precision that technology offers is transformative. It complements rather than replaces human insight, allowing us to test hypotheses, validate intuitions and deliver sharper, more meaningful analysis.
I believe that the integration of human insight with technological capabilities is a powerful combination and one that underpins our business philosophy. Technology enriches our methodological toolkit but sociological understanding provides essential context and meaning
