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Market Research Explained

What’s your idea of market research? Excellent research enables people in every sphere of life to understand and interpret an increasingly complex world.

Market research is about listening to people, analysing the information to help organisations make better decisions and reducing the risk. It is about analysing and interpreting data to build information and knowledge that can be used to predict, for example, future events, actions or behaviours. This is where the real skill and value of market research lies.

Learn more about the data, research and insights industry – a more in-depth introduction

Definition

Research which includes all forms of market, opinion and social research and data analytics, is the systematic gathering and interpretation of information about individuals and organisations. It uses the statistical and analytical methods and techniques of the applied social, behavioural and data sciences to generate insights and support decision-making by providers of goods and services, governments, non-profit organisations and the general public.
(Source: ICC/ESOMAR International Code on Market, Opinion and Social Research and Data Analytics)