Using machine learning to yield useful market insight - Market Business News

Gauging consumer needs is essential in marketing. Focus groups, interviews and surveys are currently the most common means of gathering this data. But the process can be time-consuming and expensive. The advent of machine learning technology and artificial intelligence (AI) has sparked interest in using the technology to yield valuable insights into consumer wants. Researchers at MIT devised a method of efficiently identifying customer needs from user-generated content (UCG) with machine learning, according to a study published in Marketing Science.