Transition from Market Research to Data Science
Posted: Tue Apr 22, 2025 6:06 am
Marketing research and data science have something in common. They are critical for businesses that want to learn more about their customers or market and make better strategic decisions.
The professional activities of both market researchers and data scientists revolve around data and the vast number of sources from which it can be obtained. The primary goal for both is to understand how data can contribute to smarter, more effective decision making. Both perform the same function in an organization and are two sides of the same coin.
Now let's try to understand whether these directions can become one.
We know that market research and data science are not the same philippines cell phone number list thing. So what makes them different, and how can market researchers and data scientists benefit a company?
Before we can answer this, we need to remember the purpose of market research and how data science came to be. Many of us already know that market research is the process of gathering information about consumer needs and preferences or market information. Often, the research is conducted using statistical methods or methods that collect and analyze data to draw conclusions. Of course, in today’s digital market landscape, research has evolved to have access to much larger sources and capabilities.
But with the rise of the Internet and the emergence of many new types of data, companies needed a better way to understand and extrapolate information. Data science became relevant due to the need to collect, analyze, and extrapolate information from new, unstructured, and massive data sources. Another reason for the emergence of data science was the emergence of new business questions that were previously difficult to answer (e.g., predictive models and forecasts). While data science also includes statistical techniques, this influx of data was larger than anything marketers and market researchers had ever seen. As a result, a new set of skills and tools was required.
The professional activities of both market researchers and data scientists revolve around data and the vast number of sources from which it can be obtained. The primary goal for both is to understand how data can contribute to smarter, more effective decision making. Both perform the same function in an organization and are two sides of the same coin.
Now let's try to understand whether these directions can become one.
We know that market research and data science are not the same philippines cell phone number list thing. So what makes them different, and how can market researchers and data scientists benefit a company?
Before we can answer this, we need to remember the purpose of market research and how data science came to be. Many of us already know that market research is the process of gathering information about consumer needs and preferences or market information. Often, the research is conducted using statistical methods or methods that collect and analyze data to draw conclusions. Of course, in today’s digital market landscape, research has evolved to have access to much larger sources and capabilities.
But with the rise of the Internet and the emergence of many new types of data, companies needed a better way to understand and extrapolate information. Data science became relevant due to the need to collect, analyze, and extrapolate information from new, unstructured, and massive data sources. Another reason for the emergence of data science was the emergence of new business questions that were previously difficult to answer (e.g., predictive models and forecasts). While data science also includes statistical techniques, this influx of data was larger than anything marketers and market researchers had ever seen. As a result, a new set of skills and tools was required.