(MENAFN Editorial) The international research community has been urged to focus its considerable data analysis expertise and systems on leveraging the 'Big Data' growth and innovation opportunities. The call has come from Finn Raben, Director General, ESOMAR “ an organisation which encourages, advances and elevates market research worldwide
"The "explosion" of data now available from both online and offline resources, has heightened the need for a more focussed, market-oriented (and occasionally, market-specific) approach
"In fact, for the first time ESOMAR's Global Market Research 2013 study reported Africa and the Middle East markets as distinct regions. This is due to the availability of more detailed and accurate information to marketers," Raben observed
Last year's reports estimate that Pakistan boasted growth in research turnover of nearly 20 percent fuelled by new research entrants, while the African research market enjoyed substantial growth of 11.8 percent and the region is now 50 percent larger than the Middle East.
In comparison the GCC's slow but steady markets reported a 7.1 per cent net growth in research turnover, with ESOMAR tipping the region as poised for growth driven by foreign investors, young population and government financing.
Experts from Kuwait, UAE, Egypt, Saudi Arabia, Qatar, Lebanon, Pakistan, Iraq and Iran gathered to speak to more than 180 delegates at the two day ESMAR's Best of MENAP 2014 conference currently underway at The Address, Dubai Marina Hotel
The conference, organised by ESOMAR Live, is now in its third consecutive and this year's theme - Creating Value “ From Insight To Foresight “ sees an overriding focus on regional market research, insights, opportunities and challenges
Echoing Raben's sentiments, Steve Hamilton-Clark, CEO of TNS MENA, the world's largest custom market research organisation, said, "The region's market research sector is at last finding itself in demand as marketers are driven to find out what consumers really want
"We need to ensure we use this data to understand local nuances, attributes and regional consumer preferences," added Hamilton-Clark
Local, regional and international market research, advertising and marketing experts will discuss the role that big data plays and also look at how to approach research in the region.
The event also features a workshop presented by David Smith, DVL Smith, UK on how marketing research has evolved and the new, 'consultative' skills that marketers need to ensure the information is used effectively in organisational decision-making.
Founded in 1948, ESOMAR aims to promote the value of market and opinion research in effective decision-making. Through its codes and guidelines, ESOMAR promotes the highest ethical and professional standards for researchers around the world