2024 Wrap-Up: FGA Research Highlights and Market Trends to Remember
As we wrap up 2024, FGA reflects on a year of significant accomplishments and innovation.
Our PMs managed more than 130 projects and our nationwide recruiter network seated over 3,000 participants. FGAs LiveView online platform was utilized for over 500 focus group/IDI hours and our traveling videographers recorded over 100 hours of focus groups in small markets. Through our expansive network of consultants covering consumer, b2b, healthcare and litigation, we have delivered invaluable insight that have empowered our clients to elevate their research strategies.
Our nationwide facility network has made it possible to host focus groups across the country, including in underserved secondary and tertiary markets, ensuring that high quality research is accessible to all. This year, we have also embraced new cutting-edge A.I. capabilities, leveraging advanced algorithms to analyze data for both online and in-person projects. We also can not forget to mention our amazing conference videography team that has set a new standard of excellence in capturing key moments and producing polished, and professional content for events.
In addition to our success, the market research industry has also experienced transformative developments in 2024, redefining both qualitative and quantitative methodologies. Here are our top noteworthy events and regulation shifts that helped shape marketing research this year:
AI Integration in Market Research
The surge in artificial intelligence (AI) applications has transformed market research practices. Automated platforms and AI co-pilots have streamlined data collection and analysis, enabling researchers to conduct in-house studies with greater efficiency and accuracy.
Federal Trade Commission's Ban on Fake Reviews
In August 2024, the Federal Trade Commission (FTC) implemented a final rule prohibiting the sale or purchase of fake reviews and testimonials. This regulation aims to enhance the authenticity of consumer feedback, directly impacting qualitative research that relies on genuine consumer opinions.
Advancements in Automated Research Platforms
The development of automated research platforms has empowered organizations to conduct in-house studies more efficiently. These platforms leverage AI and machine learning to automate data collection and analysis, reducing the need for external agencies and expediting the research process.
Enhanced Focus on Data Accuracy and Real-Time Insights
There has been an increased demand for real-time market research and more accurate data. Online digital research methods have provided deeper understanding at scale, allowing for timely and precise insights that inform strategic decisions.
These developments underscore the dynamic nature of the market research industry in 2024, highlighting the importance of technological integration, regulatory compliance, and the pursuit of data accuracy in both quantitative and qualitative research methodologies.
As FGA Research prepares for 2025, we remain committed to innovation and client success. We look forward to working with you this upcoming year of new trends and innovation. Here's to another impactful year ahead!