We all know that data scientists are in high demand. In fact, Amazon says that job opportunities for these experts have grown by 505% over the last 5 years. With the Internet of things producing more data than ever before, it’s easy to see why all organisations want people who can make sense of big data to drive them to success. But what does this mean for market researchers? Can data science really replace them all together? Per Statista, the big data market is growing rapidly, with $42 B USD revenues in 2018 and a massive increase to an expected $1.89 B in 2019. Corporations are adopting new technologies to help manage integration and draw insights from big data. In the telecommunications industry alone, around 94.5 per cent of respondents representing the telecommunications industry stated that their organization currently used big data technology as of 2018.
The market researchers are still essential in understanding the context of the information provided by data scientists, and to interpret the ‘what’ from the ‘why’. Ben Page, chief executive of Ipsos MORI goes on to explain how observational research is still essential, using a real-life study conducted for a global pet food manufacturer as a case in point.