Top 10 AI Tools for Market Research
Artificial Intelligence Business

Top 10 AI Tools for Market Research

AI is transforming market research, making it faster and less labor-intensive than traditional methods. AI tools streamline web research, quickly gathering vast amounts of data from various sources like social media platforms, forums, and competitor websites. They can handle large datasets efficiently, allowing businesses to analyze the results and make informed, data-driven decisions to stay competitive.

Below we will explore the top 10 AI tools for market research that are advancing and simplifying the way you collect data for your business avenues. 

AI Tools Revolutionizing Market Research in 2024

1. Browse AI

Browse AI for monitoring data from any website

Browse AI offers a simple solution for extracting and monitoring data from any website. Users can set up a data extraction robot in just 2 minutes without any coding skills. The robot can gather specific data from websites in the format of self-filling spreadsheets. It can schedule regular data extractions and provide alerts when changes occur. You can also use prebuilt robots tailored for common use cases to start extracting data right away.

Advantages of using Browse AI

  • Simultaneously run up to 50,000 robots for extensive data collection
  • Connect with over 7,000 applications to enhance data workflows and integration
  • Automatically solve captchas to bypass web research restrictions

2. Crayon

Crayon's AI-driven competitor research platform

Crayon’s AI-driven competitor research platform equips businesses with the insights needed to stay competitive. It monitors and tracks all competitor activities, including their website updates, pricing changes, job postings, customer reviews, SEC filings, press releases, and so on. It provides concise summaries of competitor activities, saving you time and ensuring you don’t overlook any important updates or changes made by your competitors that could impact your business strategy. 

Advantages of using Crayon

  • Receive daily emails summarizing the previous day’s most important insights that keep you informed effortlessly.
  • Integrate with platforms like Salesforce, Highspot, Slack, and other tools where sellers spend most of their time.
  • Track the effectiveness of your competitive intelligence program by monitoring battlecard views, win rates against competitors, and revenue impact.

3. Brandwatch

Brandwatch Iris AI companion

Brandwatch is a powerful tool for extracting online conversations. It features ‘Iris’, an AI companion which quickly discovers and analyzes vast amounts of online conversations, streamlining research tasks for businesses. This AI technology searches through extensive online data to uncover the topics and audiences driving conversations. It helps businesses speed up their research process, identify insights, create relevant content, and analyze their own performance. 

Advantages of using Brandwatch

  • Get summaries of your competitors’ latest posts and understand their social media strategies, topics, hashtags, and so on.
  • Compare your posts and comments to those of competitors and identify your best-performing content.
  • Choose any brand, topic, or product to give relevant conversations without the need to write complex queries.

4. Hotjar

Hotjar for website visitors’ behavior

Hotjar is a leading platform that helps businesses understand their website visitors’ behavior. It uses advanced AI technology to visualize and analyze user behavior and identify user needs and emotions quickly. The platform offers a variety of tools that provide comprehensive insights into visitor interactions, helping businesses optimize their sites and improve user experiences.

Hotjar uses ‘Observe tools’ like Heatmaps and Recordings to let you experience your website through your users’ eyes. ‘Ask tools’ such as Surveys and Feedback incorporate your customers’ perspectives into the discussion. Additionally, it uses ‘Engage Interviews’ to streamline the entire user research process, automating everything like recruitment, scheduling, hosting, and recording.

Advantages of using Hotjar

  • Get a complete representation of where users click, scroll, and move on your website through heatmaps along with playback recordings to quickly identify and resolve issues. 
  • Leverage Hotjar Engage’s tester pool to recruit interviewees that align with specific personas. By conducting in-depth interviews, you can gain deeper insights into buyer personas’ goals, resource utilization, challenges, and success metrics.
  • Gather customer feedback through the platform’s targeted surveys. Discover how they feel about your products or features and better understand user needs.

5. Speak

Speak AI tools for market research

Another popular addition among AI tools for market research is Speak. This AI-powered market research tool is designed to derive valuable consumer insights from unstructured audio and video data. Utilizing natural language processing (NLP), Speak transforms various types of consumer feedback, such as digital recordings, interviews, and podcasts, into structured, actionable data sets, enabling researchers to speed up their market research process.  

Advantages of using Speak

  • Extract relevant information to derive value from your language data with the help of ‘Speak Magic Prompts’. It helps you summarize, analyze, and gather insights from unstructured language data.
  • Upload multiple files at once with Speak and enjoy the convenience of mass human and automated transcription, easy search across all media files, and comprehensive keyword and trend analysis—all within a single, streamlined system.
  • Integrate with platforms like Zoom, Vimeo, and Zapier for automatic transcription of your media.

6. Quantilope

Quantilope AI-driven market research platform

Quantilope is an AI-driven market research platform that automates qualitative and quantitative research methodologies. The all-in-one platform covers the entire market research process.

It helps you do everything from creating research questions and designing questionnaires to managing panels, analyzing data, and visualizing results.

The platform offers over 10 automated methodologies that help businesses extract high-quality insights swiftly and effortlessly. It also features a qualitative video research solution, inColor, to automatically analyze respondent video feedback for keywords, emotions, and sentiment. 

Advantages of using Quantilope

  • Monitor data in real-time as it automatically populates into existing charts and reports.
  • Create surveys effortlessly with a pre-programmed library of questions and methods, or use customizable automated survey templates.
  • Access a suite of advanced research methods, programmed and ready to be added to surveys instantly, with automatic analysis using machine learning algorithms.

7. FormX

FormX automates data collection

FormX automates data collection and conversion from various types of forms and documents. It delivers the extracted data in structured formats like JSON or CSV, which can be seamlessly integrated with other systems. FormX enables businesses to achieve digital transformation, providing a seamless way to gather and analyze data without manual intervention. 

Advantages of using FormX

  • Gather data from a wide variety of documents, including invoices, shipping orders, loyalty member applications, bank statements, contract receipts, purchase orders, HR forms, and more. 
  • Use pre-configured data extraction models for identity cards, general shopping receipts, and official licenses, allowing instant data collection with a single click.
  • Benefit from a low or no-code platform with intuitive instructions for managing parsing configurations, testing data extractions, and accessing integration materials.

Do you know the Moonbeam AI: Long Form Content Writing Assistant?

8. Involve.me

Involve.me AI Tool for market research

Used daily by over 3,000 businesses worldwide, Involve.me is one of the most user-friendly AI tools for market research. It features powerful tools for creating interactive forms, surveys, quizzes, and calculators designed to boost website conversions and improve data collection.

It has over 300 pre-built templates that cater to various business goals like generating leads, delivering product recommendations, gathering customer feedback, and collecting audience insights.

Advantages of using Involve.me

  • Involve.me offers a streamlined survey creation process due to its easy-to-use drag-and-drop editor to design dynamic surveys that help in creating various forms for market research from scratch. 
  • Saves time and effort since it allows you to customize forms as per your specific research needs.
  • Tailor interactions based on individual user responses with AI-generated text elements offer a highly personalized experience.
  • Access AI analytics reports that analyze user interactions to uncover valuable insights, identify trends, and provide actionable recommendations, to increase the effectiveness of market research.

9. Perplexity

Perplexity AI market research tool

Perplexity AI combines AI-powered search capabilities with user-friendly features, catering to a variety of professional needs. This market research tool is designed to enhance the research process through advanced AI, machine learning technologies, and natural language processing.

It excels by delivering clear, concise answers from a diverse range of sources, including websites and academic journals. The tool is particularly beneficial for content creators, SEO specialists, and academic researchers, helping streamline their workflow and enhance the quality of their output.

Advantages of using Perplexity

  • Leverage the tool to summarize text and extract key information from complex documents.
  • Get citations for the gathered information, allowing you to verify the source and credibility of the data.
  • Take advantage of the free version, packed with significant features, and upgrade to the optional Pro version for even more comprehensive access.

10. Aomni

Aomni for B2B sales process

Aomni focuses on compiling data relevant to B2B sales processes. It gathers information from various online sources like company websites, news articles, financial reports, and social media to create comprehensive reports on target accounts and competitors.

Aomni quickly identifies high-intent leads and the right buyers within target organizations. It helps businesses train the AI model with their sales knowledge to gain a deep understanding of their solutions, customers, and target market.

Advantages of using Aomni

  • Integrate with popular CRM and sales engagement tools for seamless data flow and a more efficient sales process.
  • Identify the most suitable buyers within any organization, eliminating extensive searches.
  • Leverage its insights to create personalized sales content tailored to each target account

Simplifying Market Research with Web Research Services

While AI tools offer remarkable capabilities for market research, they come with certain limitations. These tools often specialize in specific functions, such as gathering customer data or extracting competitor information. This means that relying solely on these tools can lead to a fragmented understanding of the market.

For instance, an AI tool designed to collect customer data might excel in providing insights into consumer behavior and preferences but fall short in analyzing competitor strategies. Similarly, a tool focused on competitor analysis may overlook critical aspects of customer sentiment or emerging market trends. This narrow scope can result in an incomplete and potentially misleading picture of the market landscape. Additionally, using multiple AI tools to cover different aspects of market research can be resource-intensive and challenging to manage.

To achieve a more comprehensive market understanding, opting for professional web research services is a viable and often more effective solution, especially if you have multiple data sources and complex data analysis requirements.

As human intervention remains crucial during market research, third-party experts utilize custom web crawlers, scripts, and APIs, alongside manual online research techniques, to extract a wide range of data. This approach ensures that the data collected is thorough, relevant, and accurate—something that automated processes cannot achieve single-handedly.

By outsourcing web research services, companies can leverage expert knowledge and advanced methodologies, leading to more precise and actionable market insights without straining internal resources.

To Conclude

As AI continues to evolve and transform the research domain, choosing any of these top 10 AI tools for market research will significantly enhance your data collection and analysis efforts. Carefully evaluate each tool’s features, pricing, and usability to ensure you select the most suitable option for your market research requirements.

While some tools may offer robust features suitable for large enterprises, others may be designed for small to medium-sized businesses with more modest needs. If you prefer a simpler approach and don’t want to search for tools yourself, consider opting for web research services to handle your market research needs.

References:

https://www.quantilope.com/resources/best-ai-market-research-tools
https://insight7.io/7-best-ai-tools-for-marketing-research-projects-2024/
https://www.involve.me/blog/best-ai-tools-for-market-research-2024
https://explodingtopics.com/blog/ai-market-research-tools
https://www.predictableinnovation.com/methods/ai-for-market-research
https://www.mailmodo.com/guides/ai-research-tools/

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