ROLE OF AI IN MARKET RESEARCH: ENHANCING PREDICTIVE ANALYTICS AND IDENTIFYING CONSUMER TRENDS

Abstract

This paper highlights the role of artificial intelligence (AI) in market research, specifically focusing on how it enhances predictive analytics and identifies consumer trends. It discusses how AI collects and analyses vast amounts of data, enabling market researchers to gain a deeper understanding of consumer behaviour and preferences. Additionally, it emphasizes the importance of AI in predictive analytics, accurately forecasting future market trends and customer demands. The paper also mentions AI's ability to analyse consumer sentiment, personalize marketing efforts, conduct competitive analysis, automate surveys, and identify emerging trends. Overall, AI enhances market research by providing efficient data analysis, accurate predictions, and a deeper understanding of consumer behaviour, helping businesses make informed decisions and stay competitive.