Market Research tools help companies gather insights, analyze data, and understand consumer behavior. AI has transformed market research by streamlining the entire process, from initial survey planning to data analysis and final report delivery.
In this post, we’ll take a closer look at some of the most innovative AI market research tools available today. From cutting-edge algorithms that automate survey creation to sophisticated analytics platforms that harness the power of machine learning, these tools are revolutionizing the way businesses conduct market research.
Whether you’re a seasoned market researcher looking to stay ahead of the curve or a newcomer eager to explore the latest advancements in AI technology, this guide will help you find the best tools to suit your business needs.
Best AI Market Research Tools
These tools represent a range of AI capabilities in market research, from social media analytics to consumer behavior and predictive modeling, catering to different business needs and market analysis requirements.
1. ChatGPT
ChatGPT, developed by OpenAI, is a language model renowned for its advanced natural language processing capabilities. It’s been gaining popularity for its applications in various fields, including market research, where it assists in generating insights and data analysis. As a variant of the GPT-3 model, it’s designed specifically for chat applications, offering a new level of interaction in research processes.
Features
- ChatGPT can quickly gather and present publicly available data, accelerating the market research process.
- It aids in developing detailed buyer personas, providing insights into customer behaviors and preferences.
- ChatGPT is capable of identifying competitors, helping in understanding the competitive landscape.
- It can suggest ways to fill existing market gaps, offering strategic insights for businesses.
- Engaging in natural language conversations with customers, it gathers valuable feedback and opinions.
- Handles multiple conversations simultaneously, offering personalized responses and improving customer satisfaction.
Pricing
- Free plan available
- ChatGPT plus: $20 per month.
2. Browse AI
Source: Browse AI
Browse AI is a tool designed to streamline web data collection and monitoring. It automates the process of extracting and monitoring data from various websites, making it highly suitable for market research where real-time and accurate web data is crucial.
Features
- Enables automated web data extraction and monitoring.
- Offers the capability to handle concurrent tasks efficiently.
- Provides frequent checks (as low as 5 minutes) for real-time data updates.
- Allows the creation of multiple robots for diverse data collection needs.
- Includes features like premium automations and longer data retention in higher plans.
Pricing
- Starter: $19/month (annually)
- Professional : $99/month (annually)
- Team: $249/month (annually)
3. Canvs AI
Source: Canvs AI
Canvs AI is a cutting-edge platform specializing in AI-powered text analysis, transforming unstructured data into actionable insights. It’s primarily used for analyzing open-ended consumer feedback, making it a valuable tool for market research. The platform helps in accelerating time-to-insights, reducing costs, and deepening the understanding of consumer sentiments.
Features
- Specializes in transforming open-ended text from various sources into actionable business intelligence.
- Utilizes advanced AI for text analysis.
- Capable of integrating with popular research platforms for efficient data import.
- Designed to cater to the needs of brands, research agencies, and media & entertainment companies.
- Focuses on accelerating the process of obtaining insights from consumer feedback.
Pricing
- Custom pricing
4. Appen
Source: Appen
Appen is a global leader in AI and ML project support, offering data sourcing, annotation, and model evaluation services. It caters to a diverse range of needs, from large-scale data collection to fine-tuned language model (LLM) training. Appen’s platform is designed to enhance the accuracy and efficiency of AI and ML applications, making it a powerful tool for market research.
Features
- Provides comprehensive data sourcing, including custom dataset creation and pre-labeled datasets.
- Offers advanced data annotation tools, assisted by machine learning for various data types (text, image, audio, etc.).
- Supports model evaluation with global and local testing, ensuring AI models are effective in real-world scenarios.
- Utilizes a global crowd of over 1 million contributors, covering 235+ languages across 170+ countries.
- Delivers customized solutions through managed services, platform-only access, or a hybrid approach.
Pricing
- Custom pricing
5. Craiyon AI
Source: Craiyon
Craiyon, formerly known as DALL-E mini, is an AI model known for generating images from textual descriptions. While it’s primarily focused on image generation, its capabilities can be creatively applied to market research, particularly in visualizing concepts, products, and marketing materials based on textual descriptions.
Features
- Generates images from text descriptions, helpful for visualizing marketing ideas or concepts.
- Creates visual content for market research surveys or presentations.
- Understands how certain concepts or products are visually perceived.
- Perfect for brainstorming and creative processes in marketing strategy development.
Pricing
- Supporter: $5 per month billed yearly
- Professional: $20 per month billed yearly
- Enterprise: Custom pricing
6. Pecan AI
Source: Pecan AI
Pecan AI is a predictive analytics platform tailored for business intelligence analysts and teams. It simplifies and speeds up the process of building and deploying predictive models in various customer-related and operational use cases. The platform does not require extensive data preparation, making it accessible for users with different levels of expertise.
Features
- Facilitates the creation of predictive models without the need for extensive data science knowledge.
- Offers solutions for user acquisition, customer engagement, and supply chain optimization.
- Includes features for marketing mix modeling, campaign optimization, lead scoring, customer churn analysis, and more.
- Enables predictive campaign Return on Ad Spend (ROAS) forecasting and customer win-back strategies.
Pricing
- Starter: $99 per month
- Growth: $280 per month
- Business: $1200 per month
- Enterprise: Custom pricing for organizations with unique needs.
7. Quantilope
Source: Quantilope
Quantilope is a comprehensive platform for automated market research, offering both quantitative and qualitative research methodologies. This end-to-end platform is designed to streamline the entire consumer research process, delivering actionable insights and a meaningful view of the consumer in a very short time frame, typically between 1 to 5 days.
Features
- Allows conducting surveys in various languages and regions for international consumer reach.
- Offers brand and ad tracking to monitor changes in KPIs over time, such as brand perception and effectiveness of advertising campaigns.
- Features automated data cleaning flags and live significance testing for high-quality data analysis.
- Provides the flexibility to connect any panel to the platform, including the use of external panels or social media networks.
- Analyzes data in real-time with updates for each new response.
- Custom variables and subsamples for detailed analysis, along with customizable survey and report designs.
- Supports collaborative project management and provides interactive dashboards for comprehensive insights display.
Pricing
- Custom pricing
8. SurveyMonkey Genius
Source: SurveyMonkey Genius
SurveyMonkey Genius is an AI-powered survey creation tool that assists in designing effective surveys. Utilizing machine learning and AI, it analyzes survey questions and structure to improve the quality and effectiveness of the survey, ensuring higher response rates and more reliable data.
Features
- AI-guided survey creation for optimized question phrasing and structure.
- Recommendations for survey length and question order to maximize completion rates.
- Analysis of potential biases in survey questions.
- Real-time feedback on survey design for continuous improvement.
Pricing
Advantage: $25 per user per month, billed annually
Premier: $75 per user per month, billed annually
Enterprise: Custom pricing
9. Crayon AI
Source: Crayon AI
Crayon AI is a competitive intelligence platform designed to supercharge market analysis. It focuses on filtering and prioritizing crucial competitive insights, helping businesses stay ahead in their market. With features like AI-powered summarization, automatic tagging, sentiment analysis, and anomaly detection, Crayon AI provides comprehensive insights into competitor activities.
Features
- Efficiently filters out irrelevant data, allowing focus on critical competitive insights.
- Generates concise summaries of news articles, blog posts, and press releases.
- Classifies new intelligence and grades the sentiment of insights using NLP.
- Dynamically scores intelligence based on market impact using ML models.
- Alerts for significant anomalies and tracks competitor website changes.
Pricing
- Custom pricing
10. Tableau
Source: Tableau
Tableau is a widely recognized business intelligence and data visualization tool. It excels in creating intuitive and visually appealing presentations from complex data sets, aiding informed decision-making. Tableau’s user-friendly interface, with drag-and-drop capabilities, allows users of varying technical expertise to create dynamic, interactive dashboards.
Features
- Tableau provides prebuilt dashboards for various data sources, including Salesforce and LinkedIn Sales Navigator, which save time in creating and connecting to popular data sources.
- It supports integration with tools like Python, R, and Einstein Discovery, making it suitable for deep data analysis.
- AI features are built into the platform to simplify and streamline analytics.
Pricing
- Viewer: $15 per user per month (billed annually)
- Explorer: $42 per user per month (billed annually)
- Creator: $75 per user per month (billed annually)
Stay Updated with the Latest AI Tools & News:
Join the Building Startups Newsletter
We’ve just taken a quick tour of the 10 AI market research tools that are changing the market research game in 2024. These tools are instrumental in helping businesses make data-driven decisions by providing insights into market trends, consumer behavior, and competitive landscapes.
However, keep in mind that the AI market research landscape is continuously evolving, with new tools and technologies emerging regularly. To keep up with the pace, we’d recommend you join our community, Building Startups.
Our mission is to help startups find the resources and tools they need to connect their business with the right audience. We’ve got a newsletter that’s all about new discoveries, sharing insights, and connecting you with a network of like-minded professionals and enthusiasts passionate about intelligent solutions that touch people’s lives.
The community is led by Ajay Yadav, the brains behind Roomi and co-founder of Simplified, who’s sharing his knowledge and expertise to navigate the complexities of startups and funding.
