The Market Research Industry’s Year in Review

Editor’s Note: Usually to end the year we post predictions from a variety of industry leaders. However, this year we decided to take a different tack and sit down with one of the true seers of the insights industry: Simon Chadwick, and to dive deep into a conversation on what the trends we saw play out in 2022 might mean for what we’ll see in 2023.

The full conversation can be found on the GreenBook Podcast, but for those who want a quick summary of the major ideas we experimented with the AI system ChatGPT to high points. Not only was the core interview fantastic, but the quality of the summary from the AI system is mind-blowingly good as well. Perhaps 2023 will be the year of AI? We shall see …

As the year 2022 comes to a close, it’s a good time to look back at the past year and reflect on the changes and developments that have taken place within the insights industry. One person who has been at the forefront of these changes is Simon Chadwick, the managing partner and co-founder of Cambiar Consulting, a change management consulting firm focused on the insights industry.

In this special edition of the GreenBook Podcast, Chadwick discusses his background and experiences within the industry, and offers his thoughts on the state of the industry as we head into 2023.

Changes to the industry in 2022

Chadwick began his career as the CEO of several research companies, before co-founding Cambiar Consulting in 2004. He notes that the amount of change going on within the industry at that time was relatively minimal compared to today, and that the need for guidance through these changes has only grown in the years since. Chadwick has also been involved with trade organizations such as the Insights Association and CASRO, and is the editor of Research World.

“Chadwick cautions that these technologies are not a replacement for human insight and expertise.”

Looking back at the past year, Chadwick notes that the insights industry has continued to evolve and adapt to new technologies and changing customer needs. One major development has been the growth of artificial intelligence and machine learning, which has helped to improve the speed and accuracy of research.

However, Chadwick cautions that these technologies are not a replacement for human insight and expertise, and that they should be used as tools to enhance and complement the work of researchers.

Another significant change has been the increased focus on diversity, equity, and inclusion within the industry. Chadwick notes that this has been a long-overdue development, and that it is essential for the industry to better reflect the diversity of the populations it studies. He also points out that a more diverse and inclusive industry will be better equipped to understand and serve the needs of a wide range of customers.

Looking to the future

As we head into 2023, Chadwick predicts that the insights industry will continue to evolve and adapt to new technologies and changing customer needs.

He believes that the use of artificial intelligence and machine learning will continue to grow, but stresses the importance of maintaining a human perspective in research. He also expects to see a continued focus on diversity, equity, and inclusion within the industry, and encourages organizations to prioritize these values in their hiring and business practices.

All in all

Overall, the past year has been a time of significant change and development within the insights industry. With the continued growth of artificial intelligence and machine learning, and a renewed focus on diversity and inclusion, the industry is well-positioned to meet the challenges and opportunities of the coming year.