Benefits of Online Panel In Market Research Industry
Companies today use market research to identify their key markets, understand where they are positioned in the market and determine future strategies. One of the most important tools available is online panel companies which allow for better quality data collection with smaller margins of error than traditional focus groups or surveys which can take years to design, field and compile results. With an industry size of $3 billion globally, there’s still room for growth as approximately half of all survey research budgets go unspent every year. One of the main reasons why online panels are becoming more popular is that it offers access to people that would otherwise be hard to find. The Internet provides a platform for representative samples that were never before possible at this price point and speed. Another reason is the ability to more carefully balance panels so that researchers can conduct studies with “true” random samples. While online research offers many advantages, it is no