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The Role of Transcription Services in Market Research and Data Analysis

Market research and data analysis remain mainstays of the modern business world, providing key tools and feedback to help shape products and branding we all know and love. You can bet that before the release of a new product or range, the idea was carefully put through market research to see how people might react. Nowadays, it is easy to see how modern market research ideas have evolved and developed with the use of transcription as a tool for creating valuable content which can be used in a host of innovative and engaging ways. Let’s take a look.

Enhancing Interviews with Transcriptions

Whether we’re looking to conduct a one-to-one or group interview, there’s no denying the value of both in market research, providing businesses with major insights into how consumers feel and react to specific products. The power of transcription is that it helps to preserve the integrity and value of these interviews.

You can take an audio recording and convert it into text, which opens up a wealth of options surrounding what you can do with that content. You can go back over the responses and examine them more closely, or even compare them with other interviews to see how people react in different settings to unique ideas. With tools like these at your disposal, it wouldn’t be very difficult to find the nuance behind different preferences and behaviours, allowing you to get the most from your data.

Capturing the Voice of the Customer

It doesn’t matter where you collect the customer feedback from, it can still be valuable. This means that if you’re trying to get access to forums, surveys, social media or just conversations on the streets of London, you can collect data and use it later.

Transcription helps to take all of this data and convert it into usable information which can help to find and identify things like trends, key phrases, suggestions, complaints and other valuable insights. It is important for businesses to understand the customer experience, because this helps them to make the right decisions surrounding new ideas and trends. It can be so important to validate consumers and make all research consumer-focused.

Why Transcription Services?

It is true that there are a lot of automated tools out there for transcription, and they may seem tempting for a business to use in conjunction with market research. However, these types of tools do not account for the complexity and nuances associated with market research data, and this is what the human touch is necessary for - offering people the accuracy they demand.

Professional services use tools that are much more reliable and accurate than a person could achieve on their own with software. We, for example, only work with experts who can create flawless transcriptions which will give you the data you need in a format you can work with. It is important to be precise with an approach like this one. London Transcription is here to help so please get in touch.


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