AI tools for market research are steadily becoming more and more influential.
Advanced AI tools enable businesses to process mountains of data at lightning speeds, delivering near real-time insights into customer behavior and e-commerce sales trends. This rapid analysis is a game-changer.
Changing traditional research techniques to AI-enhanced ones has significantly improved the speed of market adaptation, allowing companies to remain competitive and relevant.
With so many AI market research tools available, for such a wide range of use cases, it can be challenging to find the best tools for your needs.
To simplify the process, we provide a comprehensive review of the AI market research tools, their features and benefits, pricing, pros and cons and more.
Below is a quick comparison of the best tools for market research, including their features and benefits:
Best AI Tools for Market Research | Best For | Pricing | Our P2P Rating |
Gong | Best For: Revenue & Sales Intelligence |
| 4.7/5 |
Crayon | Best For: Competitor Analysis |
| 4.6/5 |
Hotjar | Best For: User Behavior Analysis |
| 4.7/5 |
Quantilope | Best For: Concepts Optimization & Survey Management |
| 4.7/5 |
Speak | Best For: Transcription & Audio/Video Analysis |
| 4.8/5 |
SurveyMonkey Genius | Best For: Survey Creation and Analysis |
| 4.6/5 |
Exploding Topics | Best For: Trend Identification |
| 4.7/5 |
Knit | Best For: Quantitative & Qualitative Insights |
| 4.8/5 |
Brandwatch | Best For: Social Listening Insights |
| 4.8/5 |
Pecan | Best For: Predictive Analytics |
| 4.8/5 |
Keep reading for the full reviews!
AI is transforming market research by improving efficiency, accuracy, and the depth of insights. Here are the main uses of AI in this field:
These applications allow businesses to conduct market research faster and more cost-effectively while uncovering deeper and more actionable insights.
Let’s take a look at the top AI market research tools, their features and benefits, pros and cons, pricing and more to help you find the perfect tool for your research needs:
Gong is a cutting-edge revenue intelligence platform that has become a favorite among sales teams looking to enhance their performance and customer interactions.
Imagine having a tool that can automatically capture and analyze every conversation you have with customers—whether a video call, a phone call, or even an email. That’s what Gong does!
One of Gong’s standout features is its ability to reveal patterns in customer behavior and sales effectiveness. By analyzing the nuances of conversations, Gong helps researchers understand what strategies work best and what might be stalling deals.
It can even alert you based on engagement levels and other key indicators if a deal is at risk.
Conversation Analytics: Gong uses AI to analyze sales calls, emails, and meetings, extracting insights into customer behavior, preferences, and pain points.
Deal and Pipeline Visibility: Gong provides real-time data on deals, identifying risks and highlighting areas needing attention to optimize the sales pipeline.
Competitor Analysis: Gong tracks mentions of competitors in sales conversations, offering valuable intel on the competitive landscape.
Data Analysis to Insights: Turns unstructured customer interaction data into actionable insights for various teams.
Sale Revenue Projections: This tool allows marketers to project potential revenue from sales based on historical data, trends, and sales performance.
Pros
Cons
Additional: $7,500 for Professional Services (Customer support and training costs
Website: www.gong.io
P2P Rating: 4.7/5
Crayon is a highly regarded competitive intelligence tool. It uses AI to search the Internet for mentions of your competitors, including their websites, social media, news articles, press releases, and any other content.
It collects all this data and sends instant alerts whenever something important happens, for example, when a competitor launches a new product or changes their pricing.
Crayon also integrates with the tools you already use, like Salesforce and Slack. So, instead of logging into yet another platform, you can access all the competitive intel right where you’re already working.
Crayon also makes it easy to share insights across your organization. You can create custom reports to showcase how you compare to the competition or set up alerts for specific people who need to stay informed.
Comprehensive Competitive Monitoring: Crayon gathers real-time information about competitors from various sources, including websites, social media, and news articles, providing a complete view of the competitive landscape.
Automated Alerts: Users receive instant notifications about important changes in competitor activities, such as product launches or pricing adjustments, allowing for timely strategic responses.
Sales Battlecards: Crayon provides customizable battlecards that link to the latest competitive information, equipping sales teams with up-to-date insights to enhance their pitches.
Data Visualization and Reporting: Crayon offers visual analytics and reporting features that help market researchers present competitive intelligence in an easily digestible format, facilitating better decision-making.
Pros
Cons
Website: www.crayon.co
P2P Rating: 4.6/5
Hotjar is a market research tool designed to help understand how users interact with your websites. This platform gives you a window into your users’ minds, showing you exactly what they’re doing as they browse your pages.
Unlike conventional analytics tools that concentrate only on numbers, Hotjar offers a more holistic view by connecting what users do with why they do it.
Ultimately, Hotjar is like having a user experience consultant at your fingertips. It helps you see your website through the eyes of your visitors, enabling you to create a more engaging and effective online presence.
Whether for a small business or a large enterprise, using Hotjar can significantly improve user interaction with your site, ultimately boosting customer satisfaction and conversions.
Heatmaps: These visual tools show you where users click, scroll, and move on your site. By analyzing heatmaps, you will see which parts of your page attract attention and which are ignored. This helps optimize layouts and improve user engagement.
Session Recordings: Hotjar gives you access to recordings of real user sessions. You can watch how users navigate your site, where they get stuck, and what might be causing frustration. This feature is invaluable for identifying usability issues.
Feedback Tools: With Hotjar, you can gather direct user feedback through surveys and polls. This helps you understand your users’ thoughts and feelings about your site in real-time, allowing you to make informed adjustments.
User Interviews: The platform facilitates user interviews, letting you engage with customers directly. These sessions can be recorded, which helps capture valuable insights and better understand user needs.
Pros
Cons
Website: www.hotjar.com
P2P Rating: 4.7/5
Quantilope is an automated market research platform that offers a range of advanced quantitative and qualitative research methods.
The platform covers the entire research process, from questionnaire design to data analysis and visualization, allowing users to work with a single vendor.
Think of it as the Swiss army knife of AI-powered research tools. It combines all the complicated ways of understanding customers, quantitative and qualitative, into an easy-to-use package. Now, anyone in the company can dive into consumer insights without needing to be a stats wizard.
Quantilope enables companies to make informed, data-driven decisions by streamlining the research process and democratizing access to advanced analytics.
By following best practices in survey design and data analysis, users can maximize the effectiveness of their research efforts with Quantilope.
Survey Management: Quantilope provides a comprehensive suite of tools that allows users to easily design, distribute, and oversee surveys, ensuring a seamless research process from start to finish.
Pricing Research: The platform uses sophisticated analytical techniques to evaluate several pricing strategies, helping businesses identify optimal price points based on consumer preferences and market trends.
Usage & Attitude Studies: Quantilope conducts in-depth investigations into consumer behaviors and attitudes, offering valuable insights that inform product development and strategies.
TURF Analysis: This feature assesses the potential reach and effectiveness of different product or feature combinations, enabling companies to optimize their offerings for maximum impact.
Ad Testing: Quantilope facilitates the evaluation of advertising campaigns by measuring consumer reactions and effectiveness, providing actionable feedback for future marketing efforts.
Benchmarking: The platform includes tools that allow businesses to compare their performance metrics against industry standards or competitors, helping to identify areas for improvement and competitive advantages.
Pros
Cons
Website: www.quantilope.com
P2P Rating: 4.7/5
Speak is an advanced AI-driven market research tool designed to extract real, actionable insights from unstructured audio and video data.
No more drowning in a sea of information – Speak can help you spot trends and patterns you might have missed.
This clever tool listens to all that audio and video content and picks out the important bits. It’s like having a super-smart assistant who never gets tired or misses a detail. Speak doesn’t just transcribe – it understands what people are saying and how they feel.
This is a user-friendly tool, but it may also be quite an investment, so it’s important to consider your application, needs, and budget before choosing it.
Automated Transcription: Speak provides fast and accurate automated transcription for audio and video files, converting spoken content into text
Sentiment Analysis: The platform includes sentiment analysis tools that help identify emotional tones and sentiments within the transcribed data
Data Visualization: Speak offers various data visualization options such as line graphs, pie charts, and bar graphs to help users understand and interpret their data
Natural Language Processing (NLP): Speak uses advanced NLP capabilities to extract insights from text, such as identifying keywords, topics, and key phrases
Pros
Cons
Website: speakai.co
P2P Rating: 4.8/5
SurveyMonkey Genius is recognized as a leading tool in the survey market research space. It uses advanced artificial intelligence technology to improve data analysis and survey creation.
SurveyMonkey Genius uses machine learning to assist users in creating effective surveys. As users begin to type a question, the tool suggests optimal question types and balanced answer choices, which helps eliminate bias and ensures accurate data collection.
This feature allows users to create high-quality surveys quickly, often in as little as 30 seconds.
The tool provides a detailed overview of surveys before distribution. It scores the survey based on various criteria, such as question structure and potential respondent experience, offering personalized recommendations for improvement.
End-to-End Encryption: This feature ensures that all survey data is encrypted, allowing only the survey creator to access the responses. This level of security is crucial for maintaining data privacy and integrity.
Anonymous Surveys: Block Survey allows users to create surveys that do not require respondents to disclose their identities, fostering a more honest and open feedback environment.
Customizable Templates: Users can choose from various templates tailored to different research needs, making it easier to create surveys that align with specific objectives.
Real-Time Analytics: The platform provides immediate insights into survey responses, enabling users to analyze data quickly and make strategic decisions based on the analytical insights.
Drag-and-Drop Survey Builder: This user-friendly interface allows users to easily design and customize surveys without needing any technical skills, streamlining the survey creation process.
Pros
Cons
Website: www.surveymonkey.com
P2P Rating: 4.6/5
Exploding Topics is a trend detection tool that identifies rapidly growing topics before they become mainstream. It’s all about giving you the inside scoop on emerging trends, hot new products, and markets that are about to blow up.
Think of it as your early-warning system for opportunities that could be game-changers.
The platform uses a combination of AI and human analysis to sort through vast amounts of data from various sources, such as social media, search engines, and online marketplaces, ensuring that the trends it highlights are relevant and have reliable growth potential.
Trend Identification: Exploding Topics excels at identifying and tracking emerging trends across various industries by analyzing online conversations, search queries, and social media engagement.
This allows users to pinpoint topics gaining popularity and predict their future trajectory, which is crucial for marketers and entrepreneurs.
Breakout Trend Detection: The platform specializes in identifying “breakout” trends, which are topics experiencing a sudden surge in popularity. By filtering out noise, Exploding Topics helps users focus on these trends, enabling them to allocate resources effectively and capitalize on opportunities before they become mainstream.
Trends Database: The Trends Database is a flagship feature that contains over 14,000 researched topics across various categories. Users can sort and filter these topics by growth rate, search volume, and industry relevance, making it easier to discover promising new trends with long-term potential.
Weekly Trend Reports: Subscribers receive expert analysis of the top trends to watch each week. These reports include detailed insights into emerging products and companies, helping users stay informed about market shifts and potential investment opportunities.
Trend Alerts: Users can set up alerts to be notified when specific trends gain traction. This feature ensures that users are promptly informed about important changes in trend dynamics, allowing them to act quickly when opportunities arise.
Pros
Cons
Website: ExplodingTopics.com
P2P Rating: 4.7/5
Knit is a market research platform that caters to brands seeking to understand consumer behavior, particularly within the Gen Z demographic. It provides access to a vast panel of over five million respondents aged 13 to 65.
Knit uses various research methods, including video insights and AI analysis, to help brands gather and interpret customer feedback.
AI-Powered Insights: Knit utilizes AI Contextual Analysis™, an innovation that automates qualitative and quantitative data analysis. This allows users to identify critical themes and generate summaries from video responses and survey data, providing a deeper understanding of consumer feedback in a fraction of the time typically required.
Extensive Consumer Panel: Knit offers access to a vast consumer panel, exceeding 5 million respondents aged 13-65. This allows brands to conduct targeted research by customizing demographics, interests, and behaviors, ensuring that feedback is relevant and actionable.
Rapid Turnaround Time: The platform is designed for speed, enabling brands to receive insights in as little as 48 hours. This quick turnaround is crucial for businesses needing timely data to inform their strategies and decisions.
Versatile Research Methodologies: Knit supports a wide range of research methodologies, including quantitative surveys and qualitative video responses. This flexibility allows brands to tailor their research approaches to meet specific objectives, whether for product development, concept testing, or customer profiling.
User-Friendly Interface: Knit features a no-code video editing and storytelling tool, making it accessible for users without technical expertise. This interface allows brands to easily create and analyze video content, enhancing the overall research experience.
Pros
Cons
Website: goknit.com
P2P Rating: 4.8/5
Brandwatch excels at social listening. This market research tool casts a wide net online, giving researchers a comprehensive view of what people are saying about brands, products, and industries. This real-time data is gold for those looking to stay ahead of the curve.
Brandwatch is able to collect data from over 100 million online sources, including social media platforms, blogs, and forums, allowing companies to gain valuable insights into consumer sentiment and trends.
Integrating OpenAI ChatGPT has enhanced Brandwatch’s functionality, improving sentiment analysis and contextual insights.
AI Analyst: Brandwatch automatically pulls and aggregates social media data, providing actionable insights for decision-making. It reduces the time it takes to reach an insight and gives more context to social data.
Image Analysis: Brandwatch can analyze images and identify objects, scenes, and logos, which enhances the understanding of visual content’s impact alongside textual data.
Auto Segmentation: Using machine learning, Brandwatch can automatically segment datasets into relevant classifications, making it easier to analyze specific trending topics or trends.
AI-Powered Search: Users can perform instant searches for brand mentions within their dataset, streamlining the process of finding relevant information.
Cons
Website: sightx.io
P2P Rating: 4.8/5
Pecan is a powerful AI-driven predictive analytics platform that can help businesses make data-driven decisions and improve their marketing strategies.
With its automated data preparation capabilities, accurate predictions, and actionable insights, Pecanis is a great tool for companies leveraging predictive analytics for better decision-making.
While its use may require technical expertise, Pecan’s many benefits are well worth it, making it a valuable tool for businesses across various industries.
Predictive Chat: This feature acts as a conversational interface that guides users through defining their predictive needs. Users can describe their business problems in natural language, and Pecan can help formulate the appropriate predictive model.
Predictive Notebook: After defining the predictive model, Pecan generates a SQL-based Predictive Notebook. This notebook contains all necessary queries and sample data tailored to the user’s specific context.
Automated Data Preparation: Pecan automates data cleaning and preparation, which is crucial for building reliable predictive models. This feature is particularly beneficial for users dealing with messy or incomplete data.
Rapid Model Building: The platform is designed for speed, enabling users to build their first machine-learning model in under a day.
Actionable Predictions: Pecan generates accurate, actionable predictions, allowing businesses to address specific challenges such as customer churn or equipment failures.
Pros
Cons
Website: www.pecan.ai
P2P Rating: 4.8/5
AI’s game-changing power lies in its ability to process and interpret vast amounts of data in very little time, uncovering patterns and insights that would take human analysts weeks or even months to discover.
This superhuman capability isn’t just about speed, though.
Artificial intelligence brings a level of objectivity and consistency to data analysis that humans cannot match. It minimizes biases and errors that can skew results.
Its capacity for continuous learning means it gets smarter and more accurate over time, adapting to new information and trends as they emerge.
Check out this video from Market Research International (MMI) for more on the impact of AI on market research:
It’s an exciting time for market researchers. The innovative application of artificial intelligence has made extracting crucial insights from collected data much easier.
But while AI tools are undoubtedly powerful, it’s important to remember that the heart of market research lies in understanding people.
These tools can provide us with valuable data and insights, but our ability to interpret that information and connect with consumers on a human level truly matters.
As you incorporate AI into your research processes, be sure to maintain a human touch and ensure that your strategies resonate with your audience and foster lasting relationships.
AI tools are highly effective at differentiating between positive and negative customer feedback, making them invaluable for businesses seeking to understand customer perceptions and improve their offerings. By utilizing sentiment analysis, companies can gain actionable insights that drive better customer experiences and informed decision-making.
AI can aggregate data from various sources, such as social media, surveys, and online reviews, enabling a comprehensive view of consumer preferences and behaviors, which traditional methods may miss
Best practices for using AI in market research include starting with vetted data to ensure accuracy, implementing ongoing monitoring to maintain data quality, and designing AI-generated questions that mimic natural conversation.
It's also essential to balance qualitative and quantitative approaches, provide clear instructions to AI tools, and maintain human oversight to validate insights and ensure they align with research objectives. This combination enhances the reliability and effectiveness of AI-driven research outcomes.
Yes, AI tools can analyze social media using techniques like sentiment analysis and social media listening to monitor conversations,
ResearchGate: AI in Market Research: Transformative Customer Insights – A Systematic Review
ResearchGate: Artificial Intelligence in Marketing Research and Future Research Directions
Statista: Emerging Research Approaches in the Global Market Research Industry
Qualtrics: How AI Will Reinvent the Market Research Industry