From helping companies to develop and promote products and services, to analysing our behaviour as consumers, market research contributes to many aspects of modern life. But does it always? And is it global and consistent? The newly updated ISO 20252 will ensure it delivers on promise.
Market research helps reduce risk. Good quality research provides information and understanding, which allow users to more effectively value alternatives and make better decisions. Market research analyses are the go-to solution for many professionals embarking on a new business venture as they save time, provide new insights on the business market you are working on, and help to refine and polish up your strategy. So, when firms report market research results that aren’t based on sound research principles, they are not reducing risk; in fact, they may be inadvertently increasing it.
International Standard ISO 20252:2019, Market, opinion and social research, including insights and data analytics – Vocabulary and service requirements, sets out guidance and requirements relating to the way in which market research studies are planned, carried out, supervised, and reported to clients commissioning such projects. It will encourage consistency and transparency in the way surveys are carried out, and confidence in their results and in their providers.
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