Market research is an aspect of business which has survived the transition into digital life and flourished for generations. Major companies rely on market research to help them make critical decisions about their next moves, and transcription has aided in the research process and made it an overall better experience. Incorporating modern tools into the equation has made market research sophisticated and vital to success, and we’re keen to talk about how.

No More Misinterpretation or Confusion

Modern market research has many moving components. It’s often a fast-paced, lively discussion among multiple participants about an idea, which can lead to many overlapping voices and thoughts. It’s easy to misinterpret an attitude towards a design element or a product idea, leading to decisions using incorrect facts and figures.

Transcription helps to prevent this from being a problem. The modern audience is free to express themselves, and even if you don’t necessarily understand a viewpoint or idea at the time, having a written record to refer back to can help give an edge in designing or implementing ideas for new services and products.

Multiple Review Stages Made Easy

Market research involves numerous rounds of conversation, research, and polls to determine attitudes toward products and ideas. It’s no surprise that it takes more than one conversation to get some answers. Of course, finding ideas and identifying common thoughts and feelings is a lot harder if you’re working with a mess of audio files or, worse still, trying to remember exactly who said what in a discussion.

Transcription makes market research a lot easier by providing a clean, reliable set of documents to look at whenever you’d like. You can easily track through them to find common opinions, see if someone changes their attitudes over time, or if there are great ideas to glean from the participants. It’s clear how transcription streamlines the process of data collection.

Data Protection

We live in a world where data protection is a mandated part of any business exercise – including market research. Audio and video files are too easily spread, and you’ll lose track of who has access and who doesn’t – a GDPR nightmare.

Having access to transcription means that you can create one set of documents that can be kept, used, and destroyed according to data protection laws. Audio and video files can be deleted, and you can rest easy knowing you follow the rules.

Research Made Easy

Ultimately, the goal of market research is to enable sensible business decisions. Access to transcription services makes that much easier, making the whole experience much more enjoyable and less complicated. Being able to keep track of ideas and concepts through documents makes collecting opinions a streamlined process. More companies than ever are beginning to incorporate the idea, and it is easy to see why – transcription provides an essential service in the business world. EQ Transcription is here to assist with this, giving you the tools and resources necessary to thrive in a fast-paced world where collecting data quickly is vital.