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AI: Friend or foe?

A glimpse of what our speakers are presenting at the 2022 Human Insights Conference!

Historically, running an effective insights program has been nearly impossible for many businesses, with the outsized demand on time, money, and resources limiting who was able to implement ongoing data analysis and insights generation into their operations.

But as AI democratizes the research and insights space, it’s now possible for businesses and teams of all sizes to reap the benefits of AI-powered insights tools. Here, we break down results from our recent survey of 200 research and insights specialists in Australia and the US focusing on AI for text analytics — and provide a rundown of three key advantages of this revolutionary technology.

The benefits of AI in insights
We asked our researcher pool to identify benefits they’d like to see in an AI tool. Some standouts?

  • Ease of analysis (49%)
  • Accuracy (44%)
  • Less manual work (41%)
  • Depth of insight (37%)
  • Cost efficiency (35%)
  • Speed (33%)

The good news: its never been easier to harness these benefits for insights generation. Here’s how:

If you’re not using AI in your insights program, you’re behind. Here’s why.

Historically, running an effective insights program has been nearly impossible for many businesses, with the outsized demand on time, money, and resources limiting who was able to implement ongoing data analysis and insights generation into their operations.

But as AI democratizes the research and insights space, it’s now possible for businesses and teams of all sizes to reap the benefits of AI-powered insights tools. Here, we break down results from our recent survey of 200 research and insights specialists in Australia and the US focusing on AI for text analytics — and provide a rundown of three key advantages of this revolutionary technology.

The benefits of AI in insights

We asked our researcher pool to identify benefits they’d like to see in an AI tool. Some standouts?

  • Ease of analysis (49%)
  • Accuracy (44%)
  • Less manual work (41%)
  • Depth of insight (37%)
  • Cost efficiency (35%)
  • Speed (33%)

The good news: its never been easier to harness these benefits for insights generation. Here’s how:

Improving efficiency and saving time through automation
Because of their size and power, AI-powered insights tools are able to aggregate and analyze vast amounts of data at incredible speeds — Yabble’s insights generator Hey Yabble is 1,000 times faster than an expert human coder and has saved insights professionals nearly thousands and thousands of hours to date — eliminating the manual work and effort that’s long been associated with research.

With this valuable time back in their hands, specialists and businesses can skip time-intensive data processing and instead focus on what really matters: delivering actionable insights and using them to drive strong outcomes.

Unlocking the full power of data
The ways in which we create and consume data is shifting at unprecedented rates. Ninety percent of the world’s data was generated in the last two years; 2.5 quintillion bytes of data are created every day, and Google processes more than 40,000 searches per second.

With this explosive growth comes considerable complexity and an important question: how can you put yourself in a position to maximize the value contained in any kind of dataset?

With the right AI-powered tool, you can unlock the full potential of your data and use your unique insights to fine-tune every aspect of your business. Leverage call center transcripts to optimize your customer experience, analyze product reviews to support better and faster new product development, explore employee feedback for measurable ways to improve efficiency — with AI the size, breadth or complexity of dataset is no longer a barrier.

Validating business strategy
No matter the size of your business, chances are you’re dramatically underutilizing insights when it comes to steering business strategy.

Strategy validation, though, is one of the greatest benefits AI has to offer. Because AI automates what’s historically been a manual process (saving businesses time and money) and allows for analysis of huge datasets with unmatched speed and precision, businesses can now use their data to inform strategy at all levels.

This results in greater decision-making across the organization, as well as more efficient use of money and resources. Decision makers and stakeholders can feel confident they’re doing the right thing because they have used relevant data driving to substantiate their strategies — a great boost for businesses ultimately accelerating growth, innovation and ushering in a new way of embedding actionable insights into businesses.

The AI factor
Bottom line: if you’re not using AI in your research, you should be. The benefits are myriad, from incredible time saving, richer insights to better business decisions — and the future’s only getting brighter. Don’t get left behind.

Presenter: Kathryn Topp, Yabble

See program day one: Human Insights Conference

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About The Research Society 1133 Articles
The Research Society is the peak body for research, insights and analytics professionals in Australia. It has a diverse membership of individuals at all levels of experience and seniority within agencies, consultancies, client-side organisations, the non-profit and government sectors, support services as well as institutions and the academic community. As well as over 2,000 individual members, the Research Society has 125+ company and client partners, with the number continuing to grow. The Research Society research professionals and company partners commit to and are regulated by the Research Society Code of Professional Behaviour.

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