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Big Data in Market Research: Why More Data Does Not Automatically Mean Better Information
GfK Marketing Intelligence Review
Big data will change market research at its core in the long term because consumption of products and media can be logged electronically more and more, making it measurable on a large scale. Unfortunately, big data datasets are rarely representative, even if they are huge. Smart algorithms are needed to achieve high precision and prediction quality for digital and non-representative approaches. Also, big data can only be processed with complex and therefore error-prone software, which leads todoi:10.1515/gfkmir-2016-0017 fatcat:m3sdtsjjdrdgbd7xm2lx5dh7li