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2020 Top 50 U.S. Market Research and Data Analytics Companies

Diane Bowers

A full ranking of the top market research and data analytics companies in the U.S. for 2020

The “2020 Top 50 U.S. Report”—formerly known as “The Gold Report”—is developed by Diane Bowers and produced in partnership with the Insights Association and Michigan State University . The report is also sponsored by the AMA, ESOMAR and the Global Research Business Network . The report includes a ranking of the top 50 companies, a breakdown of trends by Bowers , and an analysis of the market research and analytics industry  by Michael Brereton, Melanie Courtright and Reg Baker.

50. RTi Research

Founded: 1979 2019 U.S. revenue: $12.9 million Percent change from 2018: -3% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $12.9 million U.S. employees: 45

In a world awash in data, the challenge is to turn data into something meaningful, something that can be communicated simply and acted upon effectively. RTi Research meets that challenge head-on, turning data into meaning through smart research design, flawless execution and innovative storytelling. Everything the company does is aimed at helping its clients move their ideas and insights through their organizations to influence change. 

RTi has conducted research in just about every category in the U.S. and globally. Informed by 40 years of experience across categories and cultures, RTi knows what works and what doesn’t, when to leverage new technology and methods, and when traditional approaches are best.

49. Hypothesis

Founded: 2000 2019 U.S. revenue: $18.3 million Percent change from 2018: -4.7% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $18.3 million U.S. employees: 61

Hypothesis uses insights, strategy and design to help important brands do amazing things. The company specializes in tough questions that take creative, multidimensional approaches, thoughtful strategy and a broad business perspective. Hypothesis’ approach combines inventive consumer-centric qualitative research, advanced analytics, strategic thinking and data visualization. Its award-winning design team translates complex information into compelling, easy-to-understand deliverables to socialize learnings and engage teams. 

In 2018, Hypothesis added important new capabilities with the launch of Momentum, a strategy that turns insight into application with downstream marketing and implementation planning. The Momentum team has worked alongside Hypothesis consultants on strategic engagements with clients focused on brand strategy, product development, and led dozens of workshops with senior and C-level executives to socialize insights and ideate on next steps. 

In 2019, Hypothesis’ focus on growth continued with its expansion to the Midwest and establishment of its Chicago office. From this office, the company will be able to service new and current clients in the Midwest and on the East Coast.

48. Bellomy Research

Founded: 1976 2019 U.S. revenue: $21 million Percent change from 2018: 1.4% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $21 million U.S. employees: 116

Bellomy is a privately held, family-owned, full-service market intelligence company. Bellomy focuses on driving successful business outcomes through the design and delivery of solutions that yield deeper customer understanding. The company surrounds its clients’ business challenges with an unparalleled mix of knowledge and experience, marketing science and proprietary research technology. 

Bellomy’s work involves both B2C and B2B environments—with qualitative and quantitative insight solutions spanning market segmentation, customer experience and journeys (including digital user experiences), brand equity, product innovation, shopper insights, marketing optimization, social research platforms and research technology. Bellomy works with clients across a broad range of categories and industries including consumer packaged goods, financial services, automotive, retail, restaurant and hospitality, telecommunications and technology, apparel and textiles, utilities, healthcare, insurance and home improvement.

Bellomy serves as an extension of its clients’ marketing research and customer experience departments by integrating a broad set of capabilities and areas of expertise, including segmentation, customer (and digital experience), shopper insights, social research platforms, brand equity, product innovation and marketing optimization. In addition, Bellomy clients leverage SmartIDEAS, the firm’s enterprise consumer knowledge and insight platform. 

47. Edelman Intelligence

Founded: 1999 2019 U.S. revenue: $21 million Percent change from 2018: 12.9% 2019 non-U.S. revenue: $11.5 million Percent from outside U.S.: 35.4% 2019 worldwide revenue: $32.5 million U.S. employees: 131

Edelman Intelligence (EI) is the global research and analytics consultancy of Edelman, the world’s largest global communications firm. Based in New York, with employees in 18 offices internationally, EI houses more than 200 consultants, strategists, researchers, data scientists, data visualization specialists and analysts worldwide. Its specialists are method-agnostic and leverage the best of primary and secondary research, advanced analytics and business science to solve business and communications issues for its clients. EI’s offering spans the full spectrum of client needs, from mapping the current environment and targeting key audiences, to optimizing content and measuring business impact. 

EI partners with early-stage start-ups and Fortune 100 companies alike, providing strategic research, analytics, and insights-based marketing and communications counsel for a broad range of stakeholders and scopes, including government and public affairs, corporate reputation and risk strategy, crisis and issues management, employee experience and talent advisory, executive positioning, strategic communications and public relations, marketing and branding strategy, customer experience and insights, mergers, acquisitions and market entry strategy and more.

Key accomplishments in 2019 included advancement of its Edelman Trust Management (ETM) capabilities, including an evolution of its offering focused specifically on providing guidance for measuring and building trust in brands. Developed building from its 20-plus years studying trust through the Edelman Trust Barometer and the initial iteration of ETM (which explores corporate trust), this proprietary model for brand trust measurement was created in partnership with renowned academics from Harvard Business School and INSEAD, Edelman Brand experts and external marketing thought leaders. In recent months, this model has been engineered to consider fundamental transformations to consumer/brand relationship dynamics that the COVID-19 pandemic has accelerated.

46. KS&R

Founded: 1983 2019 U.S. revenue: $21.7 million Percent change from 2018: -1.4% 2019 non-U.S. revenue: $3.6 million Percent from outside U.S.: 14.2% 2019 worldwide revenue: $25.3 million U.S. employees: 100

KS&R is a privately held strategic consultancy and full-service marketing research company. For nine consecutive years, KS&R has received the highest Gold Index composite score of any provider in the Prevision/Inside Research survey of marketing research buyers. This is a testament to the company’s passion for excellence and client-first business philosophy—wherein KS&R empowers its clients with timely, fact-based insights so they can make smarter decisions and be confident in their actions.

KS&R creates and executes global custom market research solutions for some of the best-known corporations in the world in more than 100 countries and 50 languages. It has extensive and diverse industry experience with particular strength in healthcare (pharma and device), technology, entercom, transportation, professional services, and retail and e-commerce. Team members often include business strategists with client-side experience and deep industry knowledge.

In 2019, KS&R leveraged its expansive network of pharmacy panels to build world-class capabilities for pharma inventory measurement and healthcare insights. Its marketing scientists have driven marked advances in pricing decision support, which have now been validated by positive in-market results. KS&R expanded its portfolio to include insights fusion across multiple channels of content (primary research, social media, web-based information, etc.). And finally, it introduced its KS&R Win-Loss program that provides actionable insights for how organizations can improve their value proposition and sales performance to close more deals.

Founded: 1911 2019 U.S. revenue: $22.7 million Percent change from 2018: 12.9% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $22.7 million U.S. employees: 78

NAXION guides strategic business decisions globally in healthcare, information technology, financial services, energy, heavy equipment and other B2B markets, drawing on depth of marketing experience in key verticals and skilled application of sophisticated and inventive methodologies. The firm’s NAscence Group helps life science innovators develop commercialization strategy through clinical trials design and selection of target indications, forecasting, brand planning and other research-based consulting services.

Engagements routinely include market segmentation, opportunity assessment and innovation, demand forecasting and pricing, positioning, brand health, market monitoring and lifecycle management. The firm deploys multiple data streams including primary research (qualitative and quantitative), secondary data, customer databases and other complex datasets to develop an integrative perspective on business problems. The firm also builds custom panels for B2B markets.

Project leaders with sector experience and research proficiency are supported by in-house methodologists and a wide portfolio of advanced analytic tools, including proprietary modeling services and software, all of them highly customized. The firm continues to invest significant resources in intellectual capital to enhance enterprise decision support with cutting-edge methods, including specialized “small data” choice models, new predictive techniques using big data and brand-customized text analytics. Its Farsight suite supports the building of highly dynamic models capable of producing forecasts for complex market scenarios, including paradigm-shift technologies, and gives market monitoring programs a forward-looking perspective that guides timely market interventions. Other services include litigation and regulatory support, often involving expert testimony in cases involving trademark confusion, deceptive advertising and brand equity. NAXION’s strong commitment to operational excellence is reflected in ISO certification and in-house operations capabilities to deliver exceptional levels of quality control. 

Founded: 1991 2019 U.S. revenue: $24.2 million Percent change from 2018: -3.6% 2019 non-U.S. revenue: $1.2 million Percent from outside U.S.: 4.7% 2019 worldwide revenue: $25.4 million U.S. employees: 144

Gongos is a consultative agency that places customers at the heart of business strategy. Partnering with insights, analytics, marketing, strategy and customer experience groups, Gongos operationalizes customer centricity by helping companies both understand their customer needs and deliver on them better than anyone else.

From product innovation to portfolio management, customer experience to consumer journeys, pricing strategies to marketing optimization, and trend analysis to predictive modeling, Gongos provides both outside-in and inside-out approaches across organizations to drive greater customer attraction, retention and lifetime value.

Gongos further serves as a translator to help cross-functional teams fuel the competency to gain and apply consumer wisdom, transform decisions into action and navigate organizational change. Coalescing enterprise data with primary research and curating insights for multiple audiences further empowers stakeholders to achieve greater ROI by ensuring information is designed to influence actions and behaviors from executives to the frontline. 

Gongos’ consultative tools stem from change management principles that help organizations navigate the transformation often necessary to create a more outside-in perspective as they reorient around the customer. Gongos’ approaches to engage multiple audiences include communication strategies and tactics grounded in frameworks such as its adoption-to-advocacy model and human-centered design.

43. Maru/Matchbox **

Founded: 2016 2019 U.S. revenue: $28 million Percent change from 2018: 3.7% 2019 non-U.S. revenue: $14 million Percent from outside U.S.: 33.3% 2019 worldwide revenue: $42 million U.S. employees: 150

Maru/Matchbox began disrupting the market research industry in 2000. Powered by proprietary technology, its expert teams are deeply invested in key sectors of the economy, including consumer goods and services, financial services, retail, technology, healthcare, public services, and media and entertainment. Maru/Marchbox provides organizations with the tools and insights to connect with the people that matter most, so they can build and maintain a competitive advantage. 

In 2019, Maru/Matchbox released a series of innovative research solutions. 

• Digital Media Measurement is a campaign evaluation approach that enables clients to better understand how content, channels and brands interact to deliver effective communication. 
• Creative Insight measures people’s implicit and explicit responses to advertising, giving clients a complete picture of how their ad is working. It is designed to evaluate any type of ad or brand communication, across all channels, with best-in-class benchmarks.
• Lissted analyzes how members of communities relevant to clients react to content, tweets and even websites. 
• Brand Emotion utilizes visual semiotics to identify and leverage the emotional profile of a brand. 

Maru/Matchbox continues to demonstrate innovation and thought leadership through relentless publication of articles and whitepapers.

42. Chadwick Martin Bailey (CMB)

Founded: 1984 2019 U.S. revenue: $28.7 million Percent change from 2018: 20.6% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $28.7 million U.S. employees: 90

CMB is a research and strategy firm, helping the world’s leading brands engage, innovate and grow amid deep disruption. The company leverages the best of advanced analytics, consumer psychology and market strategy to tackle critical business initiatives, including market identification, segmentation, brand health, loyalty and advocacy, and product and service development.

For more than 35 years, CMB has helped the most successful brands and their executives give voice to their market through a relentless business decision focus, creative problem-solving and storytelling, deeply consultative approach and flawless execution. With dedicated financial services, media and entertainment, tech and telecom, retail and healthcare practices, CMB’s expert teams understand the complex and evolving technological, social, cultural and economic forces that drive disruption and create opportunity.

In 2020, CMB continued its growth trajectory, including building expertise in gaming and digital platforms and expanding its qualitative and advanced analytics teams. A thought leader in the application of consumer psychology to real world business issues, CMB conducted self-funded research among tens of thousands of consumers to capture the four core benefits that motivate decision-making—identity, emotion, social and functional—providing an in-depth look at more than 80 global brands. Further self-funded research explored the accelerating journey and path to purchase of today’s gamers.

41. Screen Engine/ASI

Founded: 2010 2019 U.S. revenue: $33 million Percent change from 2018: 10% 2019 non-U.S. revenue: $1.9 million Percent from outside U.S.: 5.4% 2019 worldwide revenue: $34.9 million U.S. employees: 132

Screen Engine/ASI is a research-based consumer insights firm that stands for delivering its entertainment and media clients actionable insights and recommendations, not simply data. SE/ASI strives to help clients mitigate risk and maximize the potential for success. Through its Motion Picture and TV Groups, SE/ASI works across all distribution platforms for both domestic and internationally produced content. 

The company is centered on assessing the “abilities” of content as it migrates from the earliest stages of development through multi-channel distribution. The Motion Picture Group is the leader in traditional and digital in theater and online recruited audience screenings. Offerings also include PostTrak, a syndicated domestic and international in-theater exit poll, and ScreenExperts, an early assessment of critical response, creative ad testing, positioning and brand studies, custom work, and location-based and online focus group research. A cross-platform team within this group works with home entertainment, over-the-top and gaming clients. 

The TV group is the leader in location-based ViewTrac dial testing of pilots, programs and ongoing series and conducts online dial testing as well. Other offerings include location-based and online focus groups, promo testing, positioning and brand studies, and a variety of custom studies including custom trackers. SE/ASI syndicates Tracktion trackers including a TV tracker, a theatrical movie tracker, a home entertainment tracker and a premium video-on-demand tracker. All groups work in the company’s media lab equipped for biometric and new technology research. When appropriate, SE/ASI engages in advanced analytics techniques including, but not limited to, segmentation, conjoint, maxdiff and TURF analysis. 

40. MarketVision Research

Founded: 1983 2019 U.S. revenue: $33.2 million Percent change from 2018: 2.5% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $33.2 million U.S. employees: 140

MarketVision Research is a full-service marketing research firm, providing clients with actionable insights about their markets, customers, brands and products. Research areas of focus include product and portfolio development, pricing, branding, segmentation and customer experience. The company offers a full suite of quantitative and qualitative research capabilities and works across industry groups. These include:

• Optimization and discrete choice modeling as it applies to product and service development, branding, packaging and pricing.
• Online communities that are managed and developed entirely in-house with a focus on improving participant engagement and with additional support for mobile participation.
• Hybrid research, which uses 20 in-house moderators, along with marketing science professionals and global project managers, to facilitate qualitative and quantitative research seamlessly.

39. The Link Group

Founded: 1994 2019 U.S. revenue: $34.2 million Percent change from 2018: 23.9% 2019 non-U.S. revenue: $0.3 million Percent from outside U.S.: 0.9% 2019 worldwide revenue: $34.5 million U.S. employees: 85

The Link Group executes research for Fortune 500 firms in the healthcare, retail, CPG and finance industries across both qualitative and quantitative methodologies and around the globe. TLG attributes its success to its core business philosophy: smarter research and better service. Its commitment to smarter research has allowed the company to take a creative, custom approach to its clients’ business needs that results in actionable and insightful reports. TLG delivers better service by maintaining a consistent research team across projects, allowing the team to anticipate and respond to client needs. This business philosophy has resulted in 99% of revenue coming from repeat clients.

This past year, TLG has continued to hone its research approaches to help elevate traditional research methods. For its messaging and positioning work, TLG developed a framework that triangulates quantitative survey data to determine how well messaging concepts will activate, communicate and engage the customer. In its segmentation studies, TLG blends science and art to create models that align with the client’s brand strategic vision by creating differences that are meaningful and actionable from a marketing perspective. TLG has leveraged its knowledge of behavioral economics to develop a validated, proprietary quantitative methodology—LinkEQ—that allows the company to reveal latent emotional associations.

Founded: 1983 2019 U.S. revenue: $34.3 million Percent change from 2018: -1.2% 2019 non-U.S. revenue: $1.2 million Percent from outside U.S.: 3.4% 2019 worldwide revenue: $35.5 million U.S. employees: 233

SSRS is a full-service market and survey research firm led by a core of dedicated professionals with advanced degrees in the social sciences. 

SSRS surveys support numerous media and academic partners looking to report on public attitudes and beliefs about a wide range of salient issues such as elections and public policy. SSRS is the polling partner for CNN, and conducts public opinion polling for ABC News, The Washington Post, Politico and CBS News. 

Beyond national polls, SSRS regularly conducts research at a state level, and among subpopulations such as Latinos and political partisans, and specializes in reaching hard-to-reach and low-incidence populations. SSRS has extensive experience in public policy, public affairs and health policy research. Since the Affordable Care Act was signed into law, SSRS has completed numerous studies surrounding its implementation and assessing Americans’ attitudes and experiences with the law. 

Since 2016, SSRS conducts the monthly Kaiser Family Foundation Health Tracking Poll. SSRS is well-known for its weekly telephone Omnibus poll. The firm also offers the SSRS Opinion Panel, which allows clients to conduct probabilistic surveys quickly at low cost. The SSRS/Luker on Trends Sports Poll is the first and longest-running tracking study focusing on sports in the U.S. 

37. BVA Group **

Founded: 1970 2019 U.S. revenue: $36 million Percent change from 2018: 2.6% 2019 non-U.S. revenue: $147 million Percent from outside U.S.: 80.3% 2019 worldwide revenue: $183 million U.S. employees: 120

BVA Group is a fast-growing research and consulting firm, an expert in behavioral science, ranked in the top 20 worldwide agencies. BVA brings data to life and converts deep understanding of customers and citizens into behavior change strategies. BVA operates both for public and private clients with methodologies fueled by data science and behavioral science. 

Its FMCG specialist—PRS IN VIVO—is a global leader in packaging and shopper research. PRS IN VIVO helps consumer marketers to succeed through: 

• In-store and online studies to better understand shopper behavior, in both physical and e-commerce shopping contexts.
• Qualitative studies to develop, screen and refine new product, packaging and merchandising concepts.
• Quantitative studies to pre-test and quantify new packaging, merchandising and display systems (for physical stores and e-commerce).
• Volume forecasting and product testing for both innovations and brand restages.
• “Nudge” initiatives to facilitate behavioral change, create new consumer habits and drive category growth. 

BVA Group is a European leader in customer experience research. More than 100 leading brands use BVA’s behavioral insights to provide seamless shopper journeys and design successful new products and services, including solutions from its multi-awarded Global Nudge-Unit.

36. radius | illumination

Founded: 1960 2019 U.S. revenue: $42 million Percent change from 2018: — 2019 non-U.S. revenue: $1 million Percent from outside U.S.: 2.3% 2019 worldwide revenue: $43 million U.S. employees: 127

Radius│illumination is the product of a merger between Radius Global Market Research and Illumination Research in 2018. Together, it’s one of the largest independent custom insights providers in the world. Its focus is on guiding brands at critical points along their growth journey, tackling issues such as identifying compelling innovations, creating relevant customer segmentations and developing strategies for deeper loyalty and engagement.

Radius | illumination partners with Fortune 500 leaders as well as challenger, disruptor and emerging brands in the U.S., Europe, Asia and the Middle East. Its top sectors include financial services, personal care, healthcare and pharmaceuticals, technology, home improvement and durables, media and entertainment, packaged foods, beverage, retail and transportation.

Its 2020 initiatives to fuel brand growth for its clients include:

• Provide agile and robust solutions such as InnovationSprint to accelerate new product and service development.
• Increase its information design capabilities so clients can easily take action on the results.
• Focus on driving deeper insights by combining its advanced analytics strength with immersive customer understanding in its designs.
• Expand solutions through the integration of new technologies and behavioral approaches.

35. Market Force **

Founded: 2005 2019 U.S. revenue: $50 million Percent change from 2018: 2% 2019 non-U.S. revenue: $7 million Percent from outside U.S.: 12.3% 2019 worldwide revenue: $57 million U.S. employees: 375

Market Force Information provides location-level customer experience management solutions to protect clients’ brand reputation, delight their customers and make them more money. 

Market Force operates at scale across the globe. Each month, the company:

• Completes more than 100,000 mystery shops.
• Collects, processes and analyzes millions of employee and customer experience surveys.
• Manages more than 100,000 inbound calls to its contact center.
• Hosts more than 1 million user logins on its KnowledgeForce reporting platform.

Market Force’s multi-location solutions provide a robust framework for measuring and improving operational excellence, customer experience and financial KPIs. Measurement channels include mystery shopping, customer experience surveys, contact center calls, social media and employee engagement surveys via the KnowledgeForce technology platform and Eyes:On mobile app. Market Force employs predictive analytics to determine what matters most and the ROI for investing in improvements. The firm takes a dual-headed approach to market research services (e.g., customer segmentation, attitude trial and usage studies and custom research projects) and strategic advisory services to design and implement effective measurement systems and improve performance.

Founded: 1991 2019 U.S. revenue: $52 million Percent change from 2018: 4% 2019 non-U.S. revenue: $6 million Percent from outside U.S.: 10.3% 2019 worldwide revenue: $58 million U.S. employees: 400

As a leading customer experience management firm, SMG helps clients get smarter about their customers and employees to drive changes that boost customer loyalty and improve business performance. SMG combines technology and services to collect, analyze and share feedback and behavioral data, so it’s easier for clients to deliver and activate customer insights across their enterprise.

SMG partners with more than 350 brands around the globe to create better customer and employee experiences, which drive loyalty and performance. SMG uniquely combines technology and insights to help clients listen better, act faster and outperform competitors. SMG is a technology-enabled research firm with a global footprint—evaluating more than 150 million surveys annually, in 50 languages across 125 countries. 

Strategic solutions include omniCXTM, Brand Research and Employee Engagement. SMG’s omniCX solution uses multiple research methodologies in capturing solicited and unsolicited consumer feedback across in-store, online, contact center and social channels. Results are aggregated and reported via smg360TM—a real-time, role-based reporting platform providing access to all customer and related data. 

SMG’s research professionals partner with clients to derive business-changing insights. Within Brand Research, SMG offers traditional brand tracking as well as access to dynamic customer and competitor data through market intelligence tool BrandGeek. Fueled by SurveyMini—SMG’s location-based mobile research app—BrandGeek contains consumer feedback and behavioral data relating to more than 4,500 brands across more than 500,000 locations.

33. Hanover Research

Founded: 2003 2019 U.S. revenue: $52.7 million Percent change from 2018: 14.1% 2019 non-U.S. revenue: $2.6 million Percent from outside U.S.: 4.7% 2019 worldwide revenue: $55.3 million U.S. employees: 358

Hanover Research is a brain trust designed to level the information playing field. Hanover is made up of hundreds of researchers who support thousands of organizational decisions every year. One of the industry’s fastest-growing companies, Hanover attributes this market success to its unique positioning as the only firm that provides tailored research through an annual, fixed-fee model. 

Hanover serves more than 1,000 organizations and companies worldwide from established global organizations, to emerging companies to educational institutions. Hanover’s research informs decisions at any level and across any department capitalizing on the exposure to myriad industries and challenges. 

Founded in 2003, Hanover operates on an annual fixed-fee model, and partnership provides its clients with access to a team of high-caliber researchers, survey experts, analysts and statisticians with diverse skills in market research, information services and analytics. There is no limit on the type of challenge that can be asked for on the quantitative and qualitative approaches Hanover uses to deliver solutions—most of which are very difficult to replicate internally.

Hanover’s custom research services include:

• Secondary research: market segmentation and evaluation; labor and demographic trends and forecasts; vendor and product reviews; best practices reports. 
• Survey: survey design, administration and analysis; open-ended response coding. 
• Qualitative primary research: focus group design and administration; in-depth interview design, outreach, administration and analysis. 
• Data analysis: data segmentation and mining; conjoint analysis; linear regression; descriptive and predictive analytics; data forecasting and modeling. 

32. Directions Research

Founded: 1988 2019 U.S. revenue: $54.2 million Percent change from 2018: 17.8% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $54.2 million U.S. employees: 181

Independently recognized as one of the leading business decision insight firms in the nation, Directions Research combines a highly experienced staff with a unique mix of innovative and proven approaches to answer pressing business issues. Directions and SEEK routinely combine primary and connected data from multiple sources to create holistic and actionable analytic stories for their clients. Through digital dashboards, infographics, written reports and other unique visualizations, the firm communicates its knowledge in a manner that is right for today’s leaders. 

Directions and SEEK excel in innovation, optimization, customer and brand experience, brand strategy, strategic business intelligence and visualization across a wide range of industries. The firm offers B2C and B2B services globally, surveying audiences using a broad selection of data collection techniques and combining those insights with existing client knowledge. Directions’ and SEEK’s staff have an excellent mix of client- and supplier-side experience. The organization allows senior researchers to work with clients on a day-to-day basis.

SEEK (acquired in 2018) is a qualitative insight and innovation consultancy, operating as an independent but connected division of Directions. SEEK empathically connects brands with the humans they serve, transforming the brand-to-consumer relationship into a human-to-human one. The SEEK approach builds brand advocacy for clients with the human-centric approach to innovation, activating empathy as an innate problem-solving capability.

31. Fors Marsh Group (FMG) *

Founded: 2002 2019 U.S. revenue: $57.5 million Percent change from 2018: 22.1% 2019 non-U.S. revenue: — Percent from outside U.S.: — 2019 worldwide revenue: $57.5 million U.S. employees: 263

FMG applies behavioral and data science to improve organizational processes, business solutions and customer experiences. This work is conducted within seven core U.S. markets: health, defense, technology, finance, homeland security, policy and consumer. 

FMG’s work for its clients wins industry and federal awards. FMG has been named as a top market research company by GreenBook and the American Advertising Federation and has been named to the American Marketing Association’s list of top market research companies in the U.S. for five consecutive years. FMG was also a finalist for the American Council for Technology and Industry Advisory Council’s Igniting Innovation 2018 award for creating an innovative e-learning program that improved program awareness and usability for the General Services Administration’s Center for Acquisition Professional Excellence. 

For 2019 and beyond, FMG is focused on continuing this momentum and expanding in important areas. In its human capital practice, FMG is furthering its work in the cybersecurity industry to help the Department of Defense attract top cyber talent and to protect the nation’s infrastructure. FMG is also expanding its efforts in public service recruiting through new partnerships with the U.S. Army, U.S. National Guard and AmeriCorps. The company is proud that its partnership with these institutions will help shape the future of the U.S. For its health division, FMG is leveraging its deep experience in health communications to fight the opioid crisis by reducing stigma and removing barriers that victims face in receiving help—potentially one of the biggest challenges facing America today. 

30. National Research Group (NRG) **

Founded: 1978 2019 U.S. revenue: $59 million Percent change from 2018: 1.7% 2019 non-U.S. revenue: $4 million Percent from outside U.S.: 6.3% 2019 worldwide revenue: $63 million U.S. employees: 200

National Research Group, acquired by Stagwell Media from Nielsen in 2015, is a leading global insights and strategy firm at the intersection of entertainment and technology. Rooted in four decades of industry expertise, the world’s leading marketers turn to NRG for insights into growth and strategy for any content, anywhere, on any device. Working at the confluence of content, culture and technology, NRG offers bold insights for storytellers everywhere. 

Some agencies specialize in qual, others focus on quant—but NRG connects the two disciplines with hybrid teams expert in both modalities. The company is a one-stop, custom consultancy that tailors its approach to solve clients’ biggest challenges. 

The foundation of NRG’s qualitative work is a team of passionate, subject matter experts who connect deeply with consumers in any environment. NRG uses qual to discover the subconscious drivers that fuel our quantitative truths. Its quantitative work is anchored in sophisticated techniques with a focus on agility, creativity and rigor. NRG is method-agnostic and works collaboratively with its clients to solve complex problems in a simple way.

29. Cello Health * **

Founded: 2004 2019 U.S. revenue: $64.5 million Percent change from 2018: 23.3% 2019 non-U.S. revenue: $58.5 million Percent from outside U.S.: 47.6% 2019 worldwide revenue: $123 million U.S. employees: 260

Cello Health consists of four global capabilities that enable the company to offer best-in-class services and an integrated partnership approach to its clients. This unique mix of capabilities, combined with its collaborative approach, results in a unique fusion of expertise, providing powerful advisory and implementation solutions.

• Cello Health Insight is a global marketing research company, providing business intelligence to the healthcare and pharmaceutical sectors. Cello Health Insight specializes in getting to the heart of its clients’ questions, using a large pool of creative and academic resources and providing design of materials and deliverables through a hand-picked project team—selected to best meet the needs of each individual project.
• Cello Health Consulting is the strategic consulting arm of Cello Health, focused on delivering business results by unlocking the potential within organizations, people, assets and brands. Cello Health Consulting works alongside clients to create practical solutions that ensure buy-in and build relationships. 
• Cello Health Communications combines science, strategy and creativity to unlock the potential of brands and assets. Its services underpin differentiated positioning and deliver brand optimization, focusing on multiple areas of development and launch, through commercial maturity.
• Cello Signal is a full-service digital capability bringing impactful messages alive in communications campaigns, content and film.

28. Macromill Group **

Founded: 2000 2019 U.S. revenue: $68.5 million Percent change from 2018: 2.2% 2019 non-U.S. revenue: $260 million Percent from outside U.S.: 79.1% 2019 worldwide revenue: $328.5 million U.S. employees: 275

Macromill Group is a rapidly growing global market research and digital marketing solutions provider bringing together the collective power of its specialist companies to provide innovative data and insights that drive clients’ smarter decisions. Macromill’s industry-leading digital research solutions deliver rapid and cost-effective solutions to the challenges businesses face today. 

The group’s leading business units are Macromill and MetrixLab. Macromill stands at the forefront of innovation, delivering unique marketing solutions. It offers exclusive access to the highest-quality online panels with more than 2 million members. Using its self-developed platform AIRs, Macromill provides full-service online research including automated survey creation and completion, data tabulation and analysis. Today, its business portfolio includes services such as offline quantitative research, mobile research, point-of-service database research (QPR), digital marketing (Accessmill), a DIY survey platform (Questant) and more. 

Metrixlab turns data from online surveys, social media, mobile devices and enterprise systems into valuable business information and actionable consumer insights. This helps leading companies drive product innovation, brand engagement and customer value. Owned and group panels provide expansive access to global respondents in mature and emerging markets. Its teams deliver strategic and tactical decision support by pushing the boundaries of data analysis innovation, combining cutting-edge technology with data science and proven marketing research methodologies. Clients across the globe rely on the company’s hyper-efficient data and insights ecosystem to deliver fast and affordable results.

27. C Space **

Founded: 1999 2019 U.S. revenue: $70 million Percent change from 2018: 2.9% 2019 non-U.S. revenue: $18 million Percent from outside U.S.: 20.5% 2019 worldwide revenue: $88 million U.S. employees: 354

C Space, part of the Interbrand Group, is a global customer agency that marries art and science to create rapid customer insight and business change. 

C Space works with some of the world’s best-known brands—such as Walmart, Samsung, IKEA and more—to build customers into the ways companies work and deliver on customer-inspired growth. By building real, ongoing relationships with customers—online and in-person—brands can stay relevant, deliver superior experiences, launch successful products and build loyalty. Through its “customer as a service” approach of research, consulting and communications, C Space helps businesses minimize risk and maximize growth.

The company integrates customers into the ways its clients work. By bringing stakeholders together around the customer, C Space’s clients create greater clarity and alignment in the actions that will most effectively drive customer growth.

C Space’s customized programs are tailored based on specific business needs and include private online communities, immersive storytelling, data and analytics, activation events, innovation projects and business consulting. C Space continues to invest in its people, existing capabilities like data and analytics, as well as new initiatives.

26. Engine Insights**

Founded: 2004 2019 U.S. revenue: $71 million Percent change from 2018: 4.4% 2019 non-U.S. revenue: $44 million Percent from outside U.S.: 38.3% 2019 worldwide revenue: $115 million U.S. employees: 240

Engine is a new kind of data-driven marketing solutions company. Powered by data, driven by results and guided by people, Engine helps its clients make connections that count—leading to bottom-line growth, an inspired workplace and business transformation. 

Engine Insights (formerly ORC International) connects traditional market research with cutting-edge products to deliver clients a 360-degree view of their customers, employees and markets. Engine’s extended suite of solutions and products are designed to support business growth, from helping clients understand and outperform the competition to operationalizing both survey and behavioral data to identify, attract, engage and retain their audiences.

Engine Insights’ client services and products include custom research and omnibus surveys; customer experience, customer retention and brand engagement studies; and data management and data analytics. 

These services help clients:

• Think beyond products and services to drive business revenue.
• Use insights to inform more relevant messaging and creative.
• Get a complete 360-degree view of their customers.
• Segment audiences for better targeting.
• Develop the perfect product and take it to market.
• Create unique experiences that engage their customers and keep them loyal for a lifetime.
• Build an internal culture that attracts, retains and engages the best talent.

Founded: 1931 2019 U.S. revenue: $71.1 million Percent change from 2018: 9% 2019 non-U.S. revenue: $6.9 million Percent from outside U.S.: 8.8% 2019 worldwide revenue: $78 million U.S. employees: 253

Since 1931, Burke has consistently redefined expectations in the marketing research industry. From segmentation to customer engagement programs, product innovation and brand tracking, Burke prides itself on designing and executing objectives-driven quantitative and qualitative research. Working across a variety of industries, Burke helps its clients gain actionable perspective on their most critical business challenges, providing a range of solutions from agile to integrated strategic decision support.

Today, Burke continues to push the boundaries of what marketing research can be, seamlessly uniting research, strategy and education. Backed by Seed Strategy—its strategic consulting subsidiary—Burke has the capabilities to support its clients throughout every phase of the product or service life cycle, with expertise in strategy, innovation, branding and marketing. In addition, Burke provides comprehensive training on research fundamentals and best practices through the Burke Institute—its dedicated education division and the industry’s leader in research and insights training. Wherever its clients find themselves on the path to success, Burke is uniquely equipped to help them move forward with clarity, confidence and purpose.

Continuing its long tradition of research innovation, Burke recently unveiled two new offerings: Geode|AI, an integrated insights system that analyzes multiple data sources to uncover patterns, relationships and critical insights that are often hidden; and Quantiment, a robust machine-learning solution that jointly extracts richer insights from structured and unstructured data.

24. YouGov *

Founded: 2000 2019 U.S. revenue: $76.8 million Percent change from 2018: 11.8% 2019 non-U.S. revenue: $107.5 million Percent from outside U.S.: 58.3% 2019 worldwide revenue: $184.3 million U.S. employees: 212

YouGov is a global provider of analysis and data generated by consumer panels in 42 markets. Its core offering of opinion data is derived from the proprietary YouGov Global Panel of more than 9 million people. The YouGov Global Panel provides the company with thousands of data points on consumer attitudes, opinions and behavior. YouGov captures these streams of data in the YouGov Cube, its unique connected data library that holds more than 10 years of historic single-source data. In 2019, YouGov panelists completed more than 25 million surveys.

YouGov’s data-led offering supports and improves a wide spectrum of marketing activities of a customer base, including media owners, brands and media agencies. YouGov works with some of the world’s most recognized brands.

Its syndicated data products include the daily brand perception tracker, YouGov BrandIndex and the media planning and segmentation tool YouGov Profiles. Its market-leading YouGov RealTime service provides a fast and cost-effective solution for reaching nationally representative and specialist samples. YouGov’s Custom Research division offers a wide range of quantitative and qualitative research, tailored by sector specialist teams to meet users’ specific requirements. YouGov data is delivered through Crunch, the most advanced analytics tool for research data, combining fast processing with drag-and-drop simplicity. YouGov has a strong record for data accuracy and innovation. 

23. Phoenix Marketing International

Founded: 1999 2019 U.S. revenue: $77 million Percent change from 2018: -3.8% 2019 non-U.S. revenue: $4.5 million Percent from outside U.S.: 5.5% 2019 worldwide revenue: $81.5 million U.S. employees: 343

Global advertising and brand specialist Phoenix Marketing International operates in all major industries, utilizing modern technology, innovative research techniques and customized approaches to help clients elevate their brand, refine their communications and optimize their customer experience. 

With the launch of Phoenix’s AdPi Brand Effect Platform, clients now have access to continuous advertising measurement and performance improvement insights through a single platform, providing the ability to analyze their campaigns at any stage in the advertising life cycle, and the flexibility to draw upon each piece as needed. Through more than 20 years of experience and testing thousands of ads per month, Phoenix developed 19 category-specific ad measurement models that uncover the drivers and creative attributes that explain the “whys” behind an ad’s creative performance, with forward-looking estimates for ad memorability and brand linkage.

Phoenix continues to evolve its CX solution, launching Competitive Customer Experience, a measurement of how consumers perceive their overall experience with a brand, including key touchpoints along the journey. Grounding recent experiences with a client’s brand, competitor brands and non-categorical benchmarking, Phoenix is able to evaluate brand opinion, understand what drives great CX outside of the category, focus on emotional drivers of brand CX, and provide an external view of culture, consistency and brand promises.

22. Concentrix **

Founded: 1983 2019 U.S. revenue: $95 million Percent change from 2018: 11.8% 2019 non-U.S. revenue: $130 million Percent from outside U.S.: 57.8% 2019 worldwide revenue: $225 million U.S. employees: 253

Concentrix is a wholly owned subsidiary of SYNNEX Corp., specializing in technology-enabled customer engagement and improving business performance for clients around the world. With more than 225,000 staff in more than 40 countries, Concentrix provides services to clients in 10 industry verticals: automotive, banking and financial services, insurance, healthcare, technology, consumer electronics, media and communications, retail and e-commerce, travel and transportation, energy and the public sector. 

The Concentrix Voice of the Customer solution combines technology with experience management services provided by its in-house team of hundreds of CX professionals. 

Powered by analytic tools and artificial intelligence, its customer feedback platform ConcentrixCX helps companies listen, analyze and act on omnichannel customer feedback at any point in the customer journey, at scale. Features include data capture and integration, real-time reporting and analytics, and coaching and employee engagement tools. Concentrix continues to invest in enhanced platform functionality—for example, multi-source data expansion of its proprietary text analytics engine, including structured and unstructured customer feedback sources such as surveys, social, messaging, complaints and email. New digital data collection capabilities include a conversational feedback bot and embedded micro-journey surveys. 

Concentrix experience management services range from program management to strategic advisory services and are custom tailored to free clients’ internal teams to focus on transformational impact. Its CX experts specialize in quantitative and qualitative techniques, delivering data-driven insights through solutions such as survey design, relational loyalty research, CX journey analytics, digital channel optimization, customer segmentation, customer effort assessment and integrated CX analytics.

21. Escalent

Founded: 1975 2019 U.S. revenue: $97.1 million Percent change from 2018: -3.4% 2019 non-U.S. revenue: $5.5 million Percent from outside U.S.: 5.4% 2019 worldwide revenue: $102.6 million U.S. employees: 352

Escalent is a human behavior and analytics firm specializing in industries facing disruption. The company transforms data and insights into an understanding of what drives human behavior, and it helps businesses turn those drivers into actions that build brands, enhance customer experiences and inspire product innovation. 

Escalent specializes in automotive and mobility, consumer and retail, energy, financial services, health, technology and telecommunications. Focusing on select industries allows Escalent to function as a trusted business partner who knows the challenges its clients face and understands how to engage their most valuable audiences. 

Escalent has three centers of excellence: Qualitative Research combines emerging technologies, anthropology and ethnography to tap into human insights that reveal real needs and potential; Marketing & Data Sciences combine survey, behavioral, transactional and third-party data to solve tough research challenges; and Insight Communities provides private, online platforms for brands to engage with groups of stakeholders to quickly and easily draw insights.

20. dunnhumby **

Founded: 2001 2019 U.S. revenue: $100 million Percent change from 2018: -3.8% 2019 non-U.S. revenue: $335 million Percent from outside U.S.: 77% 2019 worldwide revenue: $435 million U.S. employees: 230

Dunnhumby is a customer science company that analyzes data and applies insights for almost 1 billion shoppers across the globe to create personalized customer experiences in digital, mobile and retail environments. Its strategic process, proprietary insights and multichannel media capabilities build loyalty with customers to drive competitive advantage and sustained growth for clients. Dunnhumby uses data and science to understand customers, then applies that insight to create personalized experiences that build lasting emotional connections with retailers and brands. It’s a strategy that demonstrates when companies know and treat their customers better than the competition, they earn more than their loyalty—they earn a competitive advantage.

Dunnhumby was established in the U.S. to help retailers and manufacturers put the customer at the heart of their business decisions. Analyzing data from millions of customers across the country, dunnhumby enables clients to use this insight to deliver a better shopping experiences and more relevant marketing to their customers.

By putting best customers at the center of every decision, dunnhumby’s approach delivers measurable value, competitive edge and even more customer data to fuel ongoing optimization, setting clients up for long-term success.

Dunnhumby serves a prestigious list of retailers and manufacturers in grocery, consumer goods, health, beauty, personal care, food service, apparel and advertising, among others. Clients include Tesco, Procter & Gamble, Coca-Cola, Macy’s and PepsiCo.

19. Informa Financial Intelligence**

Founded: 2016 2019 U.S. revenue: $107 million Percent change from 2018: 1.9% 2019 non-U.S. revenue: $36 million Percent from outside U.S.: 25.2% 2019 worldwide revenue: $143 million U.S. employees: 500

Informa Financial Intelligence is a leading provider of business intelligence, market research and expert analysis to the financial industry. The world’s top global financial institutions and banks look to Informa Financial Intelligence for its authority, precision and forward-focused analysis. 

Informa Financial Intelligence consists of key research, analysis and industry experts, such as Informa Research Services, EPFR Global, Informa Global Markets, iMoneyNet, Informa Investment Solutions, eBenchmarkers and Mapa Research.

Informa Financial Intelligence provides fund and wealth managers, traders, insurers, analysts, and investment and retail bankers with the intelligent advantage to make informed decisions, understand past trends, forecast future performance, drive profitability and increase returns.

Because of their strong background in the financial industry, the research teams of Informa Financial Intelligence are highly qualified to help financial institutions with their market research needs. Informa’s researchers are experts in benchmarking studies, competitive intelligence, new product development and usability testing, customer and member satisfaction and loyalty research, brand and advertising awareness research, and mystery shopping services for sales and service quality evaluation, legal and match pair testing, compliance, discrimination and misleading sales practices testing. Informa is considered a leader in the use of market research to limit the risk associated with allegations of discrimination, UDAAP (unfair, deceptive, or abusive acts or practices), predatory lending and misleading sales practices.

18. NRC Health

Founded: 1991 2019 U.S. revenue: $113 million Percent change from 2018: 10.8% 2019 non-U.S. revenue: $3.6 million Percent from outside U.S.: 3.1% 2019 worldwide revenue: $128 million U.S. employees: 448

NRC Health (formerly National Research Corp.) has helped healthcare organizations illuminate and improve the moments that matter to patients, residents, physicians, nurses and staff for more than 38 years. The company offers performance measurement and improvement services to hospitals, healthcare systems, physicians, health plans, senior care organizations, home health agencies and other healthcare organizations. 

NRC Health solutions help organizations stay at the forefront of healthcare by understanding the totality of healthcare consumer and staff experiences. Primary solutions include: 

• Experience solutions capture personal experiences, while delivering insights to power a new benchmark: n=1. Developing a longitudinal profile of customers’ healthcare wants and needs allows for organizational improvement, increased provider and staff engagement, loyal relationships and personal well-being. 
• The Loyalty Index, composed of seven aspects that combine to provide a 360-degree view of healthcare consumer loyalty—a single, trackable metric to identify emerging trends in consumer behavior and benchmark against peers. 
• Market Insights is a large U.S. consumer database that gives partners access to the opinions of 310,000 healthcare consumers in 300 markets, and access to resources to better understand target audiences and gauge consumer response to communications.
• The Transparency solution calculates star ratings from existing patient, resident and family survey data, and publishes those ratings to organizations’ websites. 
• The Governance Institute supports the efforts of healthcare boards across the nation—to lead stronger organizations and build healthier communities. NRC Health partners with organizations to improve governance efficiency and effective decision-making by providing trusted, independent information, tools and resources to board members, executives and physician leaders. 

17. MaritzCX **

Founded: 1973 2019 U.S. revenue: $118 million Percent change from 2018: — 2019 non-U.S. revenue: $44 million Percent from outside U.S.: 27.2% 2019 worldwide revenue: $162 million U.S. employees: 600

MaritzCX is a software and research company that focuses on customer experience management for big business. The company offers a unique combination of award-winning CX software, industry-leading data and research science, deep vertical market expertise and managed program services. MaritzCX provides a full-service professional CX approach designed to continuously improve the customer experience across an enterprise’s customers, employees, prospects and partners. 

MaritzCX’s research insights include its leading CXStandards competitive benchmarking research that delivers quarterly benchmarks for 55 CX categories across 16 industries. Its CXEvolution study of more than 10,000 practitioners’ feedback informed large enterprises of their CX gaps. 

The company’s focus is to leverage the MaritzCX platform, its industry-leading studies and research services to drive more meaningful experiences between its clients and their customers by adding product and research services and continued thought leadership in the CX market. In addition, MaritzCX has received CMS-certification for HCAHPS surveys, becoming the industry’s first CX platform company to offer an inclusive CX-based patient experience platform.

MaritzCX specializes in solutions for key industries, including automotive, financial services, retail, technology, B2B and more. Its global reach includes more than 900 full-time employees and 800-plus part-time or contract employees in 19 offices around the world. MaritzCX provides solutions to more than 500 clients and 1.6 million users who speak 72 languages in 100 countries. MaritzCX is committed to being its clients’ customer experience research partners.

In March 2020, InMoment acquired MaritzCX.

16. DRG (Decision Resources Group) **

Founded: 1990 2019 U.S. revenue: $140 million Percent change from 2018: 2.2% 2019 non-U.S. revenue: $53 million Percent from outside U.S.: 27.5% 2019 worldwide revenue: $193 million U.S. employees: 399

DRG, the Health Science & Analytics Division of Piramal Enterprises, is a global information and technology services company that provides proprietary data and solutions to the healthcare industry. DRG has brought together best-in-class companies to provide end-to-end solutions to complex challenges in healthcare. DRG reframes these challenges, enabling its customers to see the opportunities. Pharmaceutical, biotechnology, medical technology and managed care companies rely on this analysis and data to make informed decisions critical to their success.

Framing the current status and future trends in target healthcare markets using data, primary research and secondary research is a core competency of DRG. Product offerings include high‐value analytics, syndicated research, proprietary databases, decision support tools and advisory services.

DRG has a number of key specialties, including syndicated research focused on new therapeutic opportunities; portfolio planning, changing industry dynamics and global treatment patterns; insights and data on physician and consumer healthcare e‐marketing; and proprietary databases and analytics covering more than 90% of the U.S. managed care markets. 

15. Wood Mackenzie **

Founded: 1973 2019 U.S. revenue: $150 million Percent change from 2018: 3.4% 2019 non-U.S. revenue: $335 million Percent from outside U.S.: 69.1% 2019 worldwide revenue: $485 million U.S. employees: 337

Wood Mackenzie, a Verisk business, is a leading research and consultancy business for the global energy, chemicals, metals and mining industries. Wood Mackenzie launched in 1923 as a small, relatively unknown, Edinburgh, Scotland-based stockbroker. By the 1970s, it had become one of the top three stockbrokers in the UK, renowned for the quality of its equity research. 

Its success has always been underpinned by the clear and simple principle of providing trusted research and advice that would make a difference to clients. This was true when the first oil report was published by its equity analysts in 1973 and remains just as relevant to it today. So much so that, over the past four decades, Wood Mackenzie has drawn upon its heritage to create a global research and consultancy business that has grown alongside the needs of its clients. 

Having cultivated deep expertise in upstream oil and gas, Wood Mackenzie has carefully broadened its focus to deliver the same level of detailed insight for every interconnected sector of the energy, chemicals, metals and mining industries it now serves around the world. But heritage is more than just history. Its expert analysts and consultants have connected the company to some of the most significant events of our time—creating insight for governments, boards and CEOs who have helped shape the future direction of the world’s natural resources industries and their impact on society. 

14. Material *

Founded: 1973 2019 U.S. revenue: $166.7 million Percent change from 2018: 0.3% 2019 non-U.S. revenue: $57.9 million Percent from outside U.S.: 25.8% 2019 worldwide revenue: $224.6 million U.S. employees: 1,038

In 2019, Material (under the name LRW Group) acquired five companies: Killer Visual Strategies, an award-winning visual communication agency based in Seattle; Greenberg Strategy, a Bay Area research and strategy consultancy with a strong presence in the tech community; Karma Agency, a strategic communications firm based in Philadelphia; Salt Branding, a Bay Area consultancy; and T3, an Austin, Texas-based digital marketing agency. This year, Material is taking steps to unify these companies under one brand, integrating their services and building a collaboration that will provide seamless, end-to-end marketing solutions for clients. This year, LRW Group rebranded as Material, formally integrating 10 companies into one modern, unified offering.

Material is a radical collaboration of the top research and analytics firms seamlessly paired with the most creative and strategic marketing agencies, all with the shared mission of igniting growth for the world’s top B2B and B2C brands, from Fortune 500 companies to disruptive start-ups. Material offers a full range of marketing services—from data analytics and insights, to consulting and strategy development, to customer experience programs and creative executions. Material employs a roster of 1,200 strategists, creators, technologists, designers, researchers and storytellers that work side-by-side with clients to solve modern-day problems, build customer loyalty and make an impact on the world around us.

Founded: 1969 2019 U.S. revenue: $173.7 million Percent change from 2018: 0.5% 2019 non-U.S. revenue: $52.6 million Percent from outside U.S.: 23.2% 2019 worldwide revenue: $226.3 million U.S. employees: 5,311

ICF is a global consulting services provider with more than 7,000 professionals focused on making big things possible for its commercial and government clients in the U.S., Europe and Asia. 

Clients work with ICF on issues that matter profoundly to their success, whether it’s a product or program that matters to the business or a social issue or policy that matters to the world. ICF offers comprehensive survey research services that empower clients to gain valuable and actionable insights on issues that matter. 

For more than 40 years, ICF has demonstrated design, methodological and statistical knowledge through the implementation of large and complex survey research projects. Its clients consist of U.S. federal, state and local agencies, universities, nonprofits and commercial organizations. 

Its survey research services include: 

• Analyzing, reporting and presenting findings.
• Conducting surveys through a variety of data collection methods. 
• Designing samples, data collection protocols and instruments.
• Protecting all processes and data through quality assurance and system security.

ICF recently completed the installation of a state-of-the-art, fully integrated and security-enhanced data collection system, allowing the company to securely and most efficiently collect survey research data across all modes. ICF continues to be dedicated to solving the world’s most complex challenges and tackle problems with ingenuity on issues that matter profoundly to its clients.

12. J.D. Power **

Founded: 1968 2019 U.S. revenue: $217 million Percent change from 2018: 3.3% 2019 non-U.S. revenue: $113 million Percent from outside U.S.: 34.2% 2019 worldwide revenue: $330 million U.S. employees: 744

J.D. Power is a global leader in consumer insights, advisory services and data and analytics. Those capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. J.D. Power offers market research, forecasting, consulting, training and consumer surveys of product and service quality, customer satisfaction and buyer behavior. The company’s independent industry benchmark studies, innovative data and analytics products, and customized advisory services provide insights and help companies improve quality, engagement and business performance.

Annual syndicated studies are based on survey responses from millions of consumers and business customers worldwide. The firm does not review, judge or test products and services for its syndicated studies. It relies on the opinions and perspectives of consumers who have used the products and services being rated. 

J.D. Power is most often recognized for its work in the automotive industry, where its metrics have become the industry standard for measuring product quality and customer satisfaction. A team of associates worldwide conducts quality and customer satisfaction research across industries including automotive, financial services, insurance, telecommunications, travel, healthcare utilities and consumer electronics. 

11. Forrester Research Services **

Founded: 1983 2019 U.S. revenue: $233.7 million Percent change from 2018: 32.9% 2019 non-U.S. revenue: $65 million Percent from outside U.S.: 21.8% 2019 worldwide revenue: $298.7 million U.S. employees: 525

Forrester Research Services is the research component of Forrester, one of the most influential research and advisory firms in the world. Forrester works with business and technology leaders to develop customer-obsessed strategies that drive growth. Its unique insights are grounded in annual surveys of more than 675,000 consumers and business leaders worldwide, rigorous and objective methodologies, and the shared wisdom of its most innovative clients. 

Forrester’s research offerings consist of a library of cross-linked documents that interconnect its playbooks, reports, data, product rankings, best practices, evaluation tools and research archives. Research access is provided through role-based websites that facilitate client access to research and tools that are most relevant to their professional roles, including community tools that allow interaction between and among clients and analysts.

Forrester’s research and decision tools enable clients to better anticipate and capitalize on the disruptive forces affecting their businesses and organizations, providing insights and frameworks to drive growth in a complex and dynamic market. 

Founded: 1934 2019 U.S. revenue: $320 million Percent change from 2018: 3.2% 2019 non-U.S. revenue: $1,280 million Percent from outside U.S.: 80% 2019 worldwide revenue: $1,600 million U.S. employees: 860

GfK connects data and science. Innovative research solutions provide answers for key business questions around consumers, markets, brands and media—now and in the future. As a research and analytics partner, GfK promises its clients all over the world “Growth from knowledge.” 

The increasing speed of product innovation, the rise of new channels and emerging customer needs are all part of business today. GfK’s clients are businesses around the globe. To make the best possible business decisions every day, they need more than purely descriptive data—they require actionable recommendations based on advanced analytics and powered by leading-edge technology. GfK is in the unique position to leverage proprietary and third-party data to create indispensable predictive market and consumer insights and recommendations.

GfK’s industry focus provides its market researchers with a thorough understanding of business issues and questions specific to their concerns. Industries covered include automotive, consumer goods, fashion and lifestyle, media and entertainment, retail, technology, and travel and hospitality.

9. comScore * **

Founded: 1999 2019 U.S. revenue: $336.1 million Percent change from 2018: -6.5% 2019 non-U.S. revenue: $52.5 million Percent from outside U.S.: 13.5% 2019 worldwide revenue: $388.6 million U.S. employees: 870

ComScore is a global information and analytics company that measures advertising, content and the consumer audiences of each across media platforms. ComScore creates its products using a global data platform that combines information on digital platforms (smartphones, tablets and computers), television and movie screens with demographics and other descriptive information. 

ComScore has developed proprietary data science that enables measurement of person-level and household-level audiences, removing duplicated viewing across devices and over time. This combination of data and methods enables a common standard for buyers and sellers to transact on advertising. This helps companies across the media ecosystem better understand and monetize their audiences and develop marketing plans and products to more efficiently and effectively reach those audiences. ComScore’s ability to unify behavioral and other descriptive data enables it to provide audience ratings, advertising verification and granular consumer segments that describe hundreds of millions of consumers. 

ComScore offers several solutions to help advertisers maximize cross-platform marketing effectiveness—be it measuring brand impact, viewability or ad and audience delivery validation—as well as power cross-platform advertising for better targeting and stronger advertising ROI. ComScore Advanced Audience segments go beyond age and gender to help advertisers better target consumers based on lifestyles, behaviors, demographics and interests. ComScore pioneered this concept in digital, local and national TV. 

8. The NPD Group

Founded: 1966 2019 U.S. revenue: $339.5 million Percent change from 2018: 8.6% 2019 non-U.S. revenue: $104.5 million Percent from outside U.S.: 23.5% 2019 worldwide revenue: $444 million U.S. employees: 1,185

NPD’s global information and advisory services help the world’s leading brands achieve data-driven growth. NPD combines data, industry expertise and prescriptive analytics across more than 20 industries to help its clients measure markets, predict trends and improve performance.

NPD syndicated services include retail tracking, distributor tracking and consumer tracking. NPD offers weekly data, store-level enabled data for looking at geographies or custom store groupings and account-level information for participating retailers. Point-of-sale data is collected from more than 600,000 doors worldwide, plus e-commerce and mobile platforms. Consumer information is collected via online surveys and NPD’s Checkout service, which uses receipt harvesting to track and analyze purchasing and behavior. Prescriptive analytics include market forecasting, new product forecasting, pricing and promotion evaluation and segmentation. 

With deep expertise in more than 20 industries, NPD provides thought leadership to the C-suites of many of the world’s leading brands. Senior industry advisors are available for strategy sessions to guide long-range planning or address specific needs, such as preparing for earnings calls. Topics include industry and category performance, the state of retail and winning strategies of best-in-class companies.

7. Westat **

Founded: 1963 2019 U.S. revenue: $590 million Percent change from 2018: 3.5% 2019 non-U.S. revenue: $7 million Percent from outside U.S.: 1.2% 2019 worldwide revenue: $597 million U.S. employees: 1,900

Westat is a 100% employee-owned research and professional services company. Westat provides extensive survey design and operations capabilities in support of modern data collection from households, institutions, businesses and individuals. Westat applies multiple modes of data collection and survey management to achieve maximum response rates.

The company’s focus areas and capabilities include: 

• Statistical analysis and methodological research in survey design, experiments and testing, data science and analytics, statistical disclosure control and qualitative research.
• Program, process and outcome evaluation using diverse methodologies from design to implementation to guide each program to success.
• Health research, including behavioral and mental health, clinical studies and clinical trials, public and international health, healthcare delivery, patient safety and health communications campaigns.
• Social policy research and technical assistance for implementing innovative evaluation, quality improvement and service delivery systems.
• Education programs for supporting teachers, conducting evaluations and providing technical assistance.
• Transportation studies of travel behaviors, safety and human factors using advanced technologies such as instrumented vehicles and simulators, field observational studies, and online and mobile device-based surveys.

To support its research projects, Westat designs tailor-made approaches for clients as well as invests in many general and specialized IT technologies and products. Westat also provides licensing, training and support for Blaise, a major data collection software system produced by Statistics Netherlands and used internationally. 

Founded: 1975 2019 U.S. revenue: $682 million Percent change from 2018: 16.2% 2019 non-U.S. revenue: $1,685 million Percent from outside U.S.: 71.2% 2019 worldwide revenue: $2,367 million U.S. employees: 2,025

Ipsos, through its subsidiaries, engages in collecting, processing and delivering survey data for brands, companies and institutions primarily in Europe, the Middle East, Africa, the Americas and Asia Pacific. It explores market potential and market trends, tests products and advertising, helps clients build long-term relationships with customers, studies audiences and their perceptions of various media and measures public opinion trends. Ipsos offers advertising research services, including advertising tracking and brand equity evaluation services that help advertisers in the development, evaluation and improvement of their advertising efforts.

It also provides marketing research services that help clients to identify business opportunities and innovation platforms, develop strategies at point of sale, generate insights and ideas, develop and optimize their mix, and model and forecast sales volumes, as well as offers custom innovative products and solutions to address stakeholder experience and brand-building business goals.

In this unique year, Ipsos has remained strong and reaffirmed its ambition and sense of purpose to deliver reliable information for a true understanding of society, markets and people. Ipsos activates this vision for more than 5,000 customers through its presence in 90 markets both globally and locally. Ipsos covers the whole information production and analysis chain, from the collection of raw data to the activation of the insights. It has a solid tradition of innovation expressed by new methodological developments and continuously renewed product range.

5. Information Resources, Inc. (IRI) **

Founded: 1979 2019 U.S. revenue: $815 million Percent change from 2018: 1.9% 2019 non-U.S. revenue: $510 million Percent from outside U.S.: 38.5% 2019 worldwide revenue: $1,325 million U.S. employees: 3,639

IRI is a leading provider of big data, predictive analytics and forward-looking insights that help consumer packaged goods, over-the-counter healthcare organizations, retailers, financial services and media companies grow their businesses. A confluence of major external events—a change in consumer buying habits, big data coming into its own, advanced analytics and personalized consumer activation—is leading to a seismic shift in drivers of success in all industries. With the largest repository of purchase, media, social, causal and loyalty data, all integrated on an on-demand, cloud-based technology platform, IRI is empowering the personalization revolution, helping to guide its more than 5,000 clients around the world in their quest to remain relentlessly relevant, capture market share, connect with consumers, collaborate with key constituents and deliver market-leading growth.

In 2019, IRI announced the integration of artificial intelligence and machine learning into its leading suite of analytics solutions, retained 100% of its major CPG clients and welcomed new strategic partnerships with top retailers in the U.S. IRI added several innovators to its leadership team while continuing to invest in its employees by providing ongoing training. 

4. Kantar **

Founded: 1993 2019 U.S. revenue: $950 million Percent change from 2018: 2.7% 2019 non-U.S. revenue: $2,900 million Percent from outside U.S.: 75.3% 2019 worldwide revenue: $3,850 million U.S. employees: 3,585

Kantar is one of the world’s largest data, insights and consulting companies, bringing together some of the world’s leading research, data and insights expertise. Kantar’s offer covers the breadth of techniques and technologies, from purchase and media data to predicting long-term trends; from neuroscience to exit polls; from large-scale quantitative studies to qualitative research, incorporating ethnography and semiotics. 

In April 2019, all services and offerings of the various Kantar companies were combined under the Kantar brand name. This operational change enables Kantar to build platforms and offers on a global scale and to remove barriers to collaboration and co-creation within the organization to better meet clients’ needs. 

As part of this branding strategy, Kantar launched several initiatives:

• Kantar Marketplace, a global on-demand research and insights store.
• Kantar’s new Brand Guidance System that intelligently integrates validated survey measures with social, search, sales media and behavioral data to provide actionable insights to optimize brand or campaign performance.
• Integration of big data, artificial intelligence and analytical capabilities from across the company into one resource that unlocks deeper insights to fuel growth.

3. Gartner Research **

Founded: 1972 2019 U.S. revenue: $1,800 million Percent change from 2018: 4.7% 2019 non-U.S. revenue: $1,474.5 million Percent from outside U.S.: 45% 2019 worldwide revenue: $3,274.5 million U.S. employees: 4,500

Gartner Research delivers independent, objective advice to leaders across an enterprise through subscription services that include on-demand access to published research content, data and benchmarks, and direct access to a network of approximately 2,300 research experts located around the globe. Gartner Research is the fundamental building block for all Gartner products and services. It combines its proprietary research methodologies with extensive industry and academic relationships to create Gartner products and services that address each role across an enterprise. Gartner’s research agenda is defined by clients’ needs, focusing on the critical issues, opportunities and challenges they face every day. Its proprietary research content, presented in the form of reports, briefings, updates and related tools, is delivered directly to the client’s desktop via its website or product-specific portals.

Within the research segment, Global Technology Sales sells products and services to users and providers of technology, while Global Business Sales sells products and services to all other functional leaders, such as supply chain, marketing, human resources, finance, legal and sales. 

2. IQVIA * **

Founded: 2016 2019 U.S. revenue: $2,220 million Percent change from 2018: 8.6% 2019 non-U.S. revenue: $2,166 million Percent from outside U.S.: 49.4% 2019 worldwide revenue: $4,386 million U.S. employees: 6,000

IQVIA is a global provider of information, innovative technology solutions and contract research services focused on helping healthcare clients find better solutions for patients. Formed through the 2016 merger of Quintiles and IMS Health, IQVIA applies human data science—leveraging the analytic rigor and clarity of data science to the ever-expanding scope of human science—to enable companies to reimagine and develop new approaches to clinical development and commercialization, speed innovation and accelerate improvements in healthcare outcomes. 

IQVIA has three operating segments: Technology & Analytics Solutions, Research & Development Solutions and Contract Sales & Medical Solutions. Powered by the IQVIA CORE, IQVIA delivers unique and actionable insights at the intersection of large-scale analytics, transformative technology and extensive domain expertise, as well as execution capabilities to help biotech, medical device and pharmaceutical companies, medical researchers, government agencies, payers and other healthcare stakeholders tap into a deeper understanding of diseases, human behaviors and scientific advances, in an effort to advance their path toward cures.

IQVIA has one of the largest and most comprehensive collections of healthcare information in the world, which includes more than 800 million comprehensive, longitudinal, non-identified patient records spanning sales, prescription and promotional data, medical claims, electronic medical records, genomics and social media. Its scaled and growing information set contains more than 35 petabytes of proprietary data sourced from more than 150,000 data suppliers and covering more than 1 million data feeds globally. Based on this data, IQVIA delivers information and insights on more than 85% of the world’s pharmaceuticals, helping its clients run their organizations more efficiently and make better decisions to improve their clinical, commercial and financial performance. 

1. Nielsen **

Founded: 1923 2019 U.S. revenue: $3,875 million Percent change from 2018: 1.6% 2019 non-U.S. revenue: $2,623 million Percent from outside U.S.: 40.4% 2019 worldwide revenue: $6,498 million U.S. employees: 10,300

Nielsen is a global measurement and data analytics company that provides a complete and trusted view of consumers and markets worldwide. Nielsen is divided into two business units: Nielsen Global Media and Nielsen Global Connect. 

Nielsen Global Media provides media and advertising clients with unbiased and reliable metrics that create the shared understanding of the industry required for markets to function, enabling its clients to grow and succeed across the $600 billion global advertising market. Nielsen Global Media helps clients define exactly who they want to reach and optimize the outcomes they can achieve. The company’s cross-platform measurement strategy brings together the best of TV and digital measurement to ensure a more functional marketplace for the industry.

Nielsen Global Connect provides consumer packaged goods manufacturers and retailers with accurate, actionable information and a complete picture of the complex and changing marketplace that brands need to innovate and grow their businesses. Nielsen Global Connect provides data and builds tools that use predictive models to turn observations in the marketplace into business decisions and winning solutions. The business’ data and insights, combined with its open, cloud-native measurement and analytics platform that democratizes the power of data, continue to provide an essential foundation that makes markets possible in the rapidly evolving world of commerce. With Nielsen Global Connect’s set of guiding truths, businesses have the tools to create new opportunities.

* ‘% change’ calculation reflects adjustment of previously reported 2018 U.S. research revenue due to acquisition or divestiture activity or other business change during 2019.

** Some or all figures are not made available by this company so instead are based on research and estimation by the report author.

Diane Bowers is a consultant to research and data analytics businesses and industry associations in the U.S. and internationally. She previously served as the president of CASRO, board chair of the Global Research Business Network, a board member of the Americas Research Industry Alliance and a board member of The Roper Center for Public Opinion Research at Cornell University. She is also a past president of the Market Research Council and the Research Industry Coalition, and a long-time member of American Association for Public Opinion Research, AMA and ESOMAR.

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28 Top Quantitative Research Companies for 2018

A Quirk's resource guide covering quantitative research companies for 2018.

Quantitative and qualitative research are both necessary in the research industry and each brings its own advantages. If you need to gain insight from a large sample of consumers in order to make informed, strategic decisions, quantitative research may be the route you choose to take.

Quantitative research providers can offer many different but effective ways to gather all of the data needed to give you the best insights for your research project. Whether you are gaining consumer insight for your product or service or developing strategies to grow your business, these companies can provide all of the necessary channels to reach the most relevant audience, including quick and efficient online mediums or more in-depth traditional methods such as mail or in-person surveys and questionnaires. Whatever methods are used, these companies can help you reach large samples to ensure you have access to a representative audience for your research. No matter the field of research you specialize in, these companies can provide you with everything you need to conduct quantitative research for your project.

B2B International

Founded 1998 | 120 employees

B2B International is the largest B2B-focused market research firm, with offices across North America, Europe and Asia-Pacific. We have conducted 3,500+ B2B research studies spanning a wide range of sectors from traditional heavy industry to financial and business services. Our client portfolio includes 800 of the world’s largest 1,500 companies. As B2B specialists we provide the most comprehensive range of full-service B2B research solutions to give your brand a competitive edge, including quantitative studies assessing brand, the customer experience, segmentation, pricing and new product development. Our deep industry experience means we know the best practices in B2B methodologies and techniques including sampling, analytics and benchmarking and how to translate insights into a compelling report that drives action.

Phone 914-761-1909 www.b2binternational.com

BARE International

Founded 1987 | 500,000+ field force, 350+ dedicated team members worldwide

BARE International sets the industry standard as a leading provider of customer experience research, data and analytics for companies worldwide. We provide customized research solutions for your unique business needs. Founded in 1987, BARE International is a family-owned business with global capabilities. With headquarters in the Washington, D.C., area and 12 offices around the world, we are conducting more than 50,000 evaluations or audits across more than 150 countries for our clients in any given month. Our customer experience research solutions can help you see your business through your customers’ eyes and impact your bottom line.

Phone 800-296-6699 www.bareinternational.com 

Branded Research Inc.

Founded 2012 | 36 employees

Branded Research Inc. drives innovative audience solutions our clients can trust. Branded is a leading insights and technology company that provides actionable quantitative data to drive impactful business and marketing decisions. Our data collection platform helps our clients gather unique audience insights to develop more informed marketing and product development strategies. We take a unique, communicative approach to humanize the data collection process. Our community was founded on core principles of social engagement and the power of the simple conversation. It’s what sets us apart from the rest.

Phone 888-848-2525 www.gobranded.com

Founded 1989 | 25 employees

As a world-class consulting firm focused in behavioral sciences, CMI provides valuable information based on both traditional and the evolved principles of market research. Using the latest technology and advanced analytical tools such as data mining and machine-based learning, we create and implement integrated quantitative methodologies that identify how and why customers make decisions and where we can make the most impact to influence their decision to choose your brand more often. As a veteran in quantitative research, clients trust our tried-and-true strategies as we convert complicated business questions into actionable answers using proprietary tools such as yChoose, yPrescribe and yQuote. 

Phone 678-805-4045 www.cmiresearch.com

Founded 1996

Confirmit enables organizations to develop and implement market research and customer experience programs that deliver insight and drive business improvement. Confirmit’s clients create multichannel research programs that engage customers, deliver a compelling respondent experience and provide high ROI. We have over 20 years of experience in listening to the requirements of insight agencies and developing software to meet their ever-evolving needs. As clients demand faster, cheaper and more strategic insights to drive business decisions, Confirmit understands your challenges and is continually developing solutions that allow you to deliver highly intuitive custom reports capable of facilitating advanced analysis and enabling action. 

Phone 800-864-5266 www.confirmit.com

Creative Consumer Research

Founded 1976 | 16 full-time employees; 60 part-time employees

For over 40 years CCR’s mission has been to provide clients accurate and actionable information to develop strategic solutions. This includes having an expertise in telephone and Web-based quantitative research as well as focus groups, one-on-ones, mystery shops, on-site interviewing, in-store intercepts and store audits on a local, regional or national level. Our in-house staff can handle every aspect of any research project. CCR’s capabilities encompass superior data collection and extend to precise data cleaning, insightful analysis and professional presentation. CCR has partnered within a variety of industries including health care, transportation, restaurant and entertainment, education and municipality, automotive and consumer goods. So if you’re looking for an experienced research partner, contact CCR.

Phone 281-240-9646 www.ccrsurveys.com

Critical Mix

Founded 2011 | 175+ employees globally

Hugh Davis and Keith Price, Co-CEOs

Phone 800-651-8240 www.criticalmix.com  

Customer Lifecycle LLC

Founded 2008 | 16 employees

In today’s challenging marketplace, we at Customer Lifecycle help organizations do more with less. We are a global market research consultancy working with B2B/B2C companies to plan and conduct research to accurately identify and measure requirements for customer acquisition, satisfaction and loyalty, share-of-wallet growth and retention. With reach to about 3 million individuals in 160+ countries, we conduct strategic qualitative and quantitative research in multiple localized languages on a worldwide basis. We specialize in advanced quantitative analytic techniques. We help companies avoid costly mistakes by focusing on thorough front-end planning, appropriate support for research execution and action implementation at the back-end.

Phone 630-412-8989 www.customerlifecycle.us

Focus Pointe Global

Founded 1988 | 480 employees

Focus Pointe Global’s service offerings expand beyond qualitative data collection by offering online quantitative methods, including surveys, sampling, programming and tabulation. We utilize our 1.6 million-member proprietary panel as well as trusted panel partners to achieve quick-turn data collection results. Our online team is well versed in survey programming, utilizing both our own internal software as well as Qualtrics to create visually rich, user-friendly surveys, including customized branding and complex logic. We are experienced in the creation of unique surveys that allow for the insertion of a wide range of stimuli, including video. Our robust e-mailing platform provides the speed, penetration and metrics you need for successful outcomes.

Phone 888-873-6287 www.focuspointeglobal.com  

Forte Research Group

Founded 2010 | 35 employees

Chris Daniels, VP Client Services

Phone 917-470-9703 www.forteresearchgroup.com   

Information Specialists Group Inc. (ISG)

Founded 1996 | 13 employees

Information Specialists Group offers a complete range of research services from consultation and customized study design to data collection, analysis and reporting for virtually any type or size of quantitative or qualitative study. Well-known for our experience reaching the hardest-to-find and hardest-to-engage audiences, some industries we routinely serve include agriculture, financial services, health care, industrial manufacturing, legal and medical technology. Our in-house data collection center and HIPAA security compliance guarantees our clients the highest level of quality control and data security. Clients also appreciate exceptional service and our turnkey ability to support critical decision-making with actionable intelligence. 

Phone 800-279-5314 or 952-279-5314 www.isgmn.com

International Fieldworld Inc.

Founded 1993 | Up to 50 employees

International Fieldworld is your premiere primary F2F consumer data collection company. Since 1993, we have provided tailored data collection services to clients in Miami, Ft. Lauderdale, West Palm Beach, LATAM and the Caribbean including Cuba. From expert guidance on crucial matters to strategic advice on important decisions, we are here to guide you through it all. At IFW we’ll work with you to create a tailored plan of action to help drive the results you want for yourself or your business. As leading primary F2F consumer data collection experts in the Caribbean, we cover from Bermuda to Trinidad and Tobago in both quant and qual methodology. We deliver quality, data integrity combined with attention to detail and the personalized attention you need.

Phone 954-560-3760 www.intfieldworld.com  

Ironwood Insights Group LLC

Founded 2017 | 10 employees

Ironwood Insights Group leads the market research industry by offering a seamless combination of all research methodologies into one point of service. Our ability to provide consultation, design questionnaires, source sample, field surveys, analyze data and report valuable insights to our clients is unmatched. Our clients can focus on implementation and strategy rather than fielding and tabulations. Our qualitative and quantitative methodologies enhance one another as a combined solution or can be provided as stand-alone services. We are a smaller firm dedicated to providing the best research solutions at reasonable rates. Call or e-mail today for “Insights that provide clarity and drive action.”

Phone 215-688-8469 www.ironwoodinsights.com

Issues and Answers Network Inc.

Founded 1988 | 500+ employees

Issues & Answers Network Inc. is an independent global marketing research firm providing everything from survey and sampling design, online and telephone data collection (400 CATI stations in six U.S. call centers and 160 CATI stations in Europe), project management to data analysis. Our international network of reliable alliance partners extends our research capabilities across six continents. International research capabilities include qualitative, quantitative, Web as well as translation and transcription services.

Phone 757-456-1100 www.issans.com   

MarketLab Inc.

Founded 1997 | 20 employees

MarketLab is a full-service quantitative market research firm. Our work spans a wide range of industries, from CPG to technology to sales/retail work. We pride ourselves on being completely scalable – large enough to complete strategic multiphased international projects, yet nimble enough to conduct tactical projects quickly and economically. We can provide full-service market research from initial study design through analysis and reporting, we’re also able to aid clients on individual phases of any given project. Clients keep coming back to us for two big reasons: 1) we provide well-crafted research that fits in your budget while not compromising research quality and 2) we customize scalable solutions that leverage the existing infrastructure wherever possible in order to stretch marketing research dollars.

Phone 651-571-6408 www.marketlab.net   

MarketSight LLC

Founded 2006 | 25 employees

MarketSight offers a cloud-based data analysis and visualization platform and professional design services that empower researchers to discover and share key insights to drive business decisions. MarketSight seamlessly integrates with PowerPoint, Excel and all major survey platforms and data formats. It is an intuitive and robust reporting solution that offers the unique ability to easily collaborate with colleagues and enterprises anywhere in the world. Thousands of researchers use MarketSight every day to run crosstabs, create charts, build dashboards and share key findings online in a secure platform. 

Phone 617-761-4500 www.marketsight.com

MAXimum Research Inc.

Founded 2000 | 200 employees

MAXimum Research has been providing dedicated customer service and quality quantitative telephone and online research for almost 20 years. We give our clients the personal attention and service they deserve quickly, accurately and within budget. We maintain a 100-station telephone interviewing facility running the Survent software package and specializing in B2B, political polling and all types of consumer studies. Our competitive pricing, capacity for quick turnaround of large studies and expertise in data collection, questionnaire development, programming, data processing and analysis allows us to fully handle all aspects of a project from beginning to end, all in-house.

Phone 856-874-9000 www.maximumresearch.com

Olson Research Group Inc.

Founded 1995 | 60+ employees

Olson Research offers a full spectrum of qualitative and quantitative market research services with deep access to a robust proprietary database of 2.4 million U.S. health care professionals throughout the life sciences sector, including 960,000 active physicians. Precise targeting is available with up to 75 unique profiling fields. We are best known for: Access – our unique and thorough reach to all facets of the U.S. health care decision maker population; Experience – our team of seasoned PMs having on average 8+ years of industry experience; and Approach - our flexible and collaborative approach to project design, fielding and final deliverables. 

Phone 267-487-5500 www.olsonresearchgroup.com  

Opinion Access

Founded 1995 | 400+ employees

Opinion Access (OA) has been delivering expert survey solutions through superior project management for over 20 years. Regarded as one of the leading companies in the industry, OA provides researchers and consultants with a one-stop shop for all data collection and data processing needs. Our domestic and nearshore CATI interviewing stations alongside our unique online surveying solutions, Opinion8, enable us to cater to clients with a wide range of varying budgets and goals. 100 percent Web-enabled, we offer CATI and CATI over Web from any of our interviewing stations, along with programming and hosting for full-service or sample-only online studies. OA gets it done: anyone, anywhere, any way.

Phone 718-729-2728 www.opinionaccess.com  

Founded 2017

Global B2B panel masterminds OvationWorldPanel® feasibility and value: Our core product features are delivered though Ovation panel technology offering the most diverse set of real people to qualify for your study. Validation and targeting delivers precisely the sample frames you need for any type of study. OvationProCare® You just want to do you. We get it and we’ve got you. Our team knows the tech and the research. We will take your campaign from survey setup (your tool or ours), translate it, to reporting with the level of sophistication and format you expect.

Phone 212-971-7215 www.ovationmr.com

Founded 2010 | 55+ employees

P2Sample is the most sophisticated programmatic sample provider in the market research industry, with an active member panel of 30+ million members worldwide, including in hard-to-reach demographics. As a technology-driven company, P2Sample leads the way in implementing new approaches and techniques that deliver better-quality data. From proprietary algorithms that optimize respondent experience and engagement to artificial intelligence that works continuously to mitigate fraud, P2Sample is committed to rock-solid feasibility, agile delivery and maximum dependability.

Phone 404-446-2720 www.p2sample.com   

Rabin Research Company

Founded 1963 | 20 employees

International and domestic B2C and B2B marketing research services for a variety of industries: health care/pharmaceuticals, packaged goods, food, financial, services, insurance, entertainment, new technologies and many more. Service principles: high-quality work, on-time delivery, creative study designs, strategic insights, competitive prices, exceeding expectations. Study types: concepts, segmentation, product use/sensory, names, packages, product design, advertising, customer satisfaction, awareness/attitude/usage, tracking, pricing, problem detection, promotions, positionings, promises. Data collection techniques: online/mobile, telephone, central locations, mail and in-person. Qualitative and quantitative methodologies.

Phone 312-527-5009 www.rabinresearch.com   

Random Dynamic Resources

Founded 2006 | 30 employees

Random Dynamic Resources combines expertise with deep understanding of African diversity to enrich your research projects in Africa using quantitative and qualitative methodologies. Our vision is to be the leader in field research and operation management in Africa through unparalleled and timely service delivery, honesty and development of people. We provide high-quality data for superior decision-making for our clients to succeed and have served well various global brands, governments, international development agencies, international research agencies, companies and organizations within and outside Sub Saharan Africa, deploying our unique capabilities to enrich insights. Talk to us about your next adventure of fieldwork in Africa.

Phone 234 803-325-5099 (Nigeria); 929-355-4831 (United States) www.random-dynamicresources.com

Founded 1995 | 1,000+ employees

Reconnaissance Market Research (ReconMR) specializes in telephone data collection for public opinion, political polling, social science, B2B and consumer opinion surveys. 20+ years of experience delivering high-quality, representative data and results. Survey research via 525 TCPA-compliant U.S. CATI stations in San Marcos, Houston, Bryan and San Antonio, Texas. Platforms include Voxco and WinQuery using state-of-the-art telephony and networking. 1,000+ professionally-trained interviewers including bilingual staff. ReconMR’s sister company, CRI is MBE- and HUB-certified. Our partners include government agencies, universities, academic survey centers, media, political pollsters, public policy researchers, social scientists, transportation, utilities and health care organizations.

Phone 512-757-8116 www.reconmr.com

Founded 2002 | 10 employees

“If We Can’t Do It, It Cannot Be Done!” ReRez specializes in online panel research and creative mixed-mode recruitment. Methodology consultants and online specialists accessing over 40 million globally. Niche organization offering a solution based on client needs. With 15+ years, a proven process, consistent management, a research background in addition to the common technology experience, we have achieved the perfect balance in key attributes, making our ability to “simplify complexity” greater than any other single company. Single point of contact using the right methodology to find low-incidence, DMs, IT, executives, health care, B2B, B2C. Programming, fast turnaround and flexible pricing.

Phone 774-212-0033 www.rerez.com

Research Rockstar Training and Staffing

Founded 2009 | 4 employees

Kathryn Korostoff, CEO

Phone 508-691-6004 www.researchrockstar.com   

SIS International Research Inc.

Founded 1984 | 75 employees

SIS International Research is a global market research and strategic market intelligence company providing full-service qualitative and quantitative mobile research, fieldwork, data collection and strategy research. Our quantitative research solutions include online surveys, mobile surveys, CATI, CAPI, CAWI, mall surveys, street intercepts, gang surveys, car clinics and hybrid research methods. Our services include recruitment, data collection, interviewing, analysis and reporting. Our coverage is nationwide USA and worldwide. We have a testing and focus group facility in Manhattan. Our headquarters are located in New York and our other key regional offices include Los Angeles, Miami, London, Paris, Frankfurt and Shanghai. 

Phone 212-505-6805 www.sisinternational.com   

Smarty Pants

Founded 2005 | 25 employees

Wynne Tyree, CEO; Michelle Poris, Ph.D., Vice President

Phone 203-847-5766 www.asksmartypants.com

Visit Quantitative Research and Recruiting - Quantitative for a complete list of companies offering these services.

16 Top Quantitative Research Companies Related Categories: Quantitative Research, Recruiting-Quantitative Quantitative Research, Recruiting-Quantitative, Hybrid Research (Qual/Quant), Research Industry, Advertising Research, Consumer Research, Consumers, Demographic Analysis, Online Research, Online Surveys, Package Development Research, Sampling, Strategy Research

Echo Market Research: Looking for a more relevant way to conduct research? Related Categories: Quantitative Research, Recruiting-Quantitative Quantitative Research, Recruiting-Quantitative, Mystery Shopping, Qualitative Research, Recruiting-Qualitative, Research Industry

14 Top Qualitative/Quantitative Recruiting Companies Related Categories: Quantitative Research, Recruiting-Quantitative Quantitative Research, Recruiting-Quantitative, Hybrid Research (Qual/Quant), Qualitative Research, Recruiting-Qualitative, Research Industry

28 Top Quantitative Research Companies 2021 Related Categories: Quantitative Research, Recruiting-Quantitative Quantitative Research, Recruiting-Quantitative, Artificial Intelligence / AI, CX/UX-Customer/User Experience, Consumer Research, Consumers, Data Analysis, Online Research, Online Survey Design/Analysis, Package Development Research, Sampling, Software-CATI (Telephone Interviewing)

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• Understanding QA
• Quantitative vs. Qualitative Analysis

Example of Quantitative Analysis in Finance

Drawbacks and limitations of quantitative analaysis, using quantitative finance outside of finance, the bottom line.

• Quantitative Analysis

Quantitative Analysis (QA): What It Is and How It's Used in Finance

Ariel Courage is an experienced editor, researcher, and former fact-checker. She has performed editing and fact-checking work for several leading finance publications, including The Motley Fool and Passport to Wall Street.

Investopedia / Hilary Allison

Quantitative analysis (QA) refers to methods used to understand the behavior of financial markets and make more informed investment or trading decisions. It involves the use of mathematical and statistical techniques to analyze financial data. For instance, by examining past stock prices, earnings reports, and other information, quantitative analysts, often called “ quants ,” aim to forecast where the market is headed.

Unlike fundamental analysis that might focus on a company's management team or industry conditions, quantitative analysis relies chiefly on crunching numbers and complex computations to derive actionable insights.

Quantitative analysis can be a powerful tool, especially in modern markets where data is abundant and computational tools are advanced, enabling a more precise examination of the financial landscape. However, many also believe that the raw numbers produced by quantitative analysis should be combined with the more in-depth understanding and nuance afforded by qualitative analysis .

Key Takeaways

• Quantitative analysis (QA) is a set of techniques that use mathematical and statistical modeling, measurement, and research to understand behavior.
• Quantitative analysis presents financial information in terms of a numerical value.
• It's used for the evaluation of financial instruments and for predicting real-world events such as changes in GDP.
• While powerful, quantitative analysis has some drawbacks that can be supplemented with qualitative analysis.

Understanding Quantitative Analysis

Quantitative analysis (QA) in finance refers to the use of mathematical and statistical techniques to analyze financial & economic data and make trading, investing, and risk management decisions.

QA starts with data collection, where quants gather a vast amount of financial data that might affect the market. This data can include anything from stock prices and company earnings to economic indicators like inflation or unemployment rates. They then use various mathematical models and statistical techniques to analyze this data, looking for trends, patterns, and potential investment opportunities. The outcome of this analysis can help investors decide where to allocate their resources to maximize returns or minimize risks.

Some key aspects of quantitative analysis in finance include:

• Statistical analysis - this aspect of quantitative analysis involves examining data to identify trends and relationships, build predictive models, and make forecasts. Techniques used can include regression analysis , which helps in understanding relationships between variables; time series analysis , which looks at data points collected or recorded at a specific time; and Monte Carlo simulations , a mathematical technique that allows you to account for uncertainty in your analyses and forecasts. Through statistical analysis, quants can uncover insights that may not be immediately apparent, helping investors and financial analysts make more informed decisions.
• Algorithmic trading - this entails using computer algorithms to automate the trading process. Algorithms can be programmed to carry out trades based on a variety of factors such as timing, price movements, liquidity changes, and other market signals. High-frequency trading (HFT), a type of algorithmic trading, involves making a large number of trades within fractions of a second to capitalize on small price movements. This automated approach to trading can lead to more efficient and often profitable trading strategies.
• Risk modeling - risk is an inherent part of financial markets. Risk modeling involves creating mathematical models to measure and quantify various risk exposures within a portfolio. Methods used in risk modeling include Value-at-Risk (VaR) models, scenario analysis , and stress testing . These tools help in understanding the potential downside and uncertainties associated with different investment scenarios, aiding in better risk management and mitigation strategies.
• Derivatives pricing - derivatives are financial contracts whose value is derived from other underlying assets like stocks or bonds. Derivatives pricing involves creating mathematical models to evaluate these contracts and determine their fair prices and risk profiles. A well-known model used in this domain is the Black-Scholes model , which helps in pricing options contracts . Accurate derivatives pricing is crucial for investors and traders to make sound financial decisions regarding buying, selling, or hedging with derivatives.
• Portfolio optimization - This is about constructing a portfolio in such a way that it yields the highest possible expected return for a given level of risk. Techniques like Modern Portfolio Theory (MPT) are employed to find the optimal allocation of assets within a portfolio. By analyzing various asset classes and their expected returns, risks, and correlations, quants can suggest the best mix of investments to achieve specific financial goals while minimizing risk.

The overall goal is to use data, math, statistics, and software to make more informed financial decisions, automate processes, and ultimately generate greater risk-adjusted returns.

Quantitative analysis is widely used in central banking, algorithmic trading, hedge fund management, and investment banking activities. Quantitative analysts, employ advanced skills in programming, statistics, calculus, linear algebra etc. to execute quantitative analysis.

Quantitative Analysis vs. Qualitative Analysis

Quantitative analysis relies heavily on numerical data and mathematical models to make decisions regarding investments and financial strategies. It focuses on the measurable, objective data that can be gathered about a company or a financial instrument.

But analysts also evaluate information that is not easily quantifiable or reduced to numeric values to get a better picture of a company's performance. This important qualitative data can include reputation, regulatory insights, or employee morale. Qualitative analysis thus focuses more on understanding the underlying qualities of a company or a financial instrument, which may not be immediately quantifiable.

Quantitative isn't the opposite of qualitative analysis. They're different and often complementary philosophies. They each provide useful information for informed decisions. When used together. better decisions can be made than using either one in isolation.

Some common uses of qualitative analysis include:

• Management Evaluation: Qualitative analysis is often better at evaluating a company's management team, their experience, and their ability to lead the company toward growth. While quantifiable metrics are useful, they often cannot capture the full picture of management's ability and potential. For example, the leadership skills, vision, and corporate culture instilled by management are intangible factors that can significantly impact a company's success, yet are difficult to measure with numbers alone.
• Industry Analysis: It also includes an analysis of the industry in which the company operates, the competition, and market conditions. For instance, it can explore how changes in technology or societal behaviors could impact the industry. Qualitative approaches can also better identify barriers to entry or exit, which can affect the level of competition and profitability within the industry.
• Brand Value and Company Reputation: The reputation of a company, its brand value, and customer loyalty are also significant factors considered in qualitative analysis. Understanding how consumers perceive the brand, their level of trust, and satisfaction can provide insights into customer loyalty and the potential for sustained revenue. This can be done through focus groups, surveys, or interviews.
• Regulatory Environment: The regulatory environment, potential legal issues, and other external factors that could impact a company are also analyzed qualitatively. Evaluating a company's compliance with relevant laws, regulations, and industry standards to ascertain its legal standing and the potential risk of legal issues. In addition, understanding a company's ethical practices and social responsibility initiatives, that can influence its relationship with stakeholders and the community at large.

Suppose you are interested in investing in a particular company, XYZ Inc. One way to evaluate its potential as an investment is by analyzing its past financial performance using quantitative analysis. Let's say, over the past five years, XYZ Inc. has been growing its revenue at an average rate of 8% per year. You decide to use regression analysis to forecast its future revenue growth. Regression analysis is a statistical method used to examine the relationship between variables.

After collecting the necessary data, you run a simple linear regression with the year as the independent variable and the revenue as the dependent variable. The output gives you a regression equation, let's say, R e v e n u e = 100 + 8 ( Y e a r ) Revenue=100+8(Year) R e v e n u e = 100 + 8 ( Y e a r ) . This equation suggests that for every year, the revenue of XYZ Inc. increases by $8 million, starting from a base of $100 million. This quantitative insight could be instrumental in helping you decide whether XYZ Inc. represents a good investment opportunity based on its historical revenue growth trend.

However, while you can quantify revenue growth for the firm and make predictions, the reasons for why may not be apparent from quantitative number crunching.

Augmenting with Qualitative Analysis

Qualitative analysis can provide a more nuanced understanding of XYZ Inc.'s potential. You decide to delve into the company's management and industry reputation. Through interviews, reviews, and industry reports, you find that the management team at XYZ Inc. is highly regarded with a track record of successful ventures. Moreover, the company has a strong brand value and a loyal customer base.

Additionally, you assess the industry in which XYZ Inc. operates and find it to be stable with a steady demand for the products that XYZ Inc. offers. The regulatory environment is also favorable, and the company has a good relationship with the local communities in which it operates.

By analyzing these qualitative factors, you obtain a more comprehensive understanding of the company's operational environment, the competence of its management team, and its reputation in the market. This qualitative insight complements the quantitative analysis, providing you with a well-rounded view of XYZ Inc.'s investment potential.

Combining both quantitative and qualitative analyses could therefore lead to a more informed investment decision regarding XYZ Inc.

Quantitative analysis, while powerful, comes with certain limitations:

• Data Dependency: Quantitative analysis is heavily dependent on the quality and availability of numerical data. If the data is inaccurate, outdated, or incomplete, the analysis and the subsequent conclusions drawn will be flawed. As they say, 'garbage-in, garbage-out'.
• Complexity: The methods and models used in quantitative analysis can be very complex, requiring a high level of expertise to develop, interpret, and act upon. This complexity can also make it difficult to communicate findings to individuals who lack a quantitative background.
• Lack of Subjectivity: Quantitative analysis often overlooks qualitative factors like management quality, brand reputation, and other subjective factors that can significantly affect a company's performance or a financial instrument's value. In other words, you may have the 'what' without the 'why' or 'how.' Qualitative analysis can augment this blind spot.
• Assumption-based Modeling: Many quantitative models are built on assumptions that may not hold true in real-world situations. For example, assumptions about normal distribution of returns or constant volatility may not reflect actual market conditions.
• Over-reliance on Historical Data: Quantitative analysis often relies heavily on historical data to make predictions about the future. However, past performance is not always indicative of future results, especially in rapidly changing markets or unforeseen situations like economic crises.
• Inability to Capture Human Emotion and Behavior: Markets are often influenced by human emotions and behaviors which can be erratic and hard to predict. Quantitative analysis, being number-driven, struggles to properly account for these human factors.
• Cost and Time Intensive: Developing accurate and reliable quantitative models can be time-consuming and expensive. It requires skilled personnel, sophisticated software tools, and often, extensive computational resources.
• Overfitting: There's a risk of overfitting , where a model might perform exceedingly well on past data but fails to predict future outcomes accurately because it's too tailored to past events.
• Lack of Flexibility: Quantitative models may lack the flexibility to adapt to new information or changing market conditions quickly, which can lead to outdated or incorrect analysis.
• Model Risk: There's inherent model risk involved where the model itself may have flaws or errors that can lead to incorrect analysis and potentially significant financial losses.

Understanding these drawbacks is crucial for analysts and decision-makers to interpret quantitative analysis results accurately and to balance them with qualitative insights for more holistic decision-making.

Quantitative analysis is a versatile tool that extends beyond the realm of finance into a variety of fields. In the domain of social sciences, for instance, it's used to analyze behavioral patterns, social trends, and the impact of policies on different demographics. Researchers employ statistical models to examine large datasets, enabling them to identify correlations, causations, and trends that can provide a deeper understanding of human behaviors and societal dynamics. Similarly, in the field of public policy, quantitative analysis plays a crucial role in evaluating the effectiveness of different policies, analyzing economic indicators, and forecasting the potential impacts of policy changes. By providing a method to measure and analyze data, it aids policymakers in making informed decisions based on empirical evidence.

In the arena of healthcare, quantitative analysis is employed for clinical trials, genetic research, and epidemiological studies to name a few areas. It assists in analyzing patient data, evaluating treatment outcomes, and understanding disease spread and its determinants. Meanwhile, in engineering and manufacturing, it's used to optimize processes, improve quality control, and enhance operational efficiency. By analyzing data related to production processes, material properties, and operational performance, engineers can identify bottlenecks, optimize workflows, and ensure the reliability and quality of products. Additionally, in the field of marketing, quantitative analysis is fundamental for market segmentation, advertising effectiveness, and consumer satisfaction studies. It helps marketers understand consumer preferences, the impact of advertising campaigns, and the market potential for new products. Through these diverse applications, quantitative analysis serves as a bedrock for data-driven decision-making, enabling professionals across different fields to derive actionable insights from complex data.

What Is Quantitative Analysis Used for in Finance?

Quantitative analysis is used by governments, investors, and businesses (in areas such as finance, project management, production planning, and marketing) to study a certain situation or event, measure it, predict outcomes, and thus help in decision-making. In finance, it's widely used for assessing investment opportunities and risks. For instance, before venturing into investments, analysts rely on quantitative analysis to understand the performance metrics of different financial instruments such as stocks, bonds, and derivatives. By delving into historical data and employing mathematical and statistical models, they can forecast potential future performance and evaluate the underlying risks. This practice isn't just confined to individual assets; it's also essential for portfolio management. By examining the relationships between different assets and assessing their risk and return profiles, investors can construct portfolios that are optimized for the highest possible returns for a given level of risk.

What Kind of Education Do You Need to Be a Quant?

Individuals pursuing a career in quantitative analysis usually have a strong educational background in quantitative fields like mathematics, statistics, computer science, finance, economics, or engineering. Advanced degrees (Master’s or Ph.D.) in quantitative disciplines are often preferred, and additional coursework or certifications in finance and programming can also be beneficial.

What Is the Difference Between Quantitative Analysis and Fundamental Analysis?

While both rely on the use of math and numbers, fundamental analysis takes a broader approach by examining the intrinsic value of a security. It dives into a company's financial statements, industry position, the competence of the management team, and the economic environment in which it operates. By evaluating factors like earnings, dividends, and the financial health of a company, fundamental analysts aim to ascertain the true value of a security and whether it is undervalued or overvalued in the market. This form of analysis is more holistic and requires a deep understanding of the company and the industry in which it operates.

How Does Artificial Intelligence (AI) Influence Quantitative Analysis?

Quantitative analysis often intersects with machine learning (ML) and other forms of artificial intelligence (AI). ML and AI can be employed to develop predictive models and algorithms based on the quantitative data. These technologies can automate the analysis process, handle large datasets, and uncover complex patterns or trends that might be difficult to detect through traditional quantitative methods.

Quantitative analysis is a mathematical approach that collects and evaluates measurable and verifiable data in order to evaluate performance, make better decisions, and predict trends. Unlike qualitative analysis, quantitative analysis uses numerical data to provide an explanation of "what" happened, but not "why" those events occurred.

DeFusco, R. A., McLeavey, D. W., Pinto, J. E., Runkle, D. E., & Anson, M. J. (2015). Quantitative investment analysis . John Wiley & Sons.

University of Sydney. " On Becoming a Quant ," Page 1

Linsmeier, Thomas J., and Neil D. Pearson. " Value at risk ." Financial analysts journal 56, no. 2 (2000): 47-67.

Fischer, Black, and Myron Scholes, " The Pricing of Options and Corporate Liabilities ." Journal of Political Economy, vol. 81, no. 3, 1974, pp. 637-654.

Francis, J. C., & Kim, D. (2013). Modern portfolio theory: Foundations, analysis, and new developments . John Wiley & Sons.

Kaczynski, D., Salmona, M., & Smith, T. (2014). " Qualitative research in finance ." Australian Journal of Management , 39 (1), 127-135.

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98 Quantitative Research Questions & Examples

As researchers, we know how powerful quantitative research data can be in helping answer strategic questions. Here, I’ve detailed 23 use cases and curated 98 quantitative market research questions with examples – making this a post you should add to your bookmark list 📚, so you can quickly refer back.

I’ve formatted this post to show you 10-15 questions for each use case. At the end of each section, I also share a quicker way to get similar insights using modern market research tools like Similarweb.

What is a quantitative research question?

Quantitative market research questions tell you the what, how, when, and where of a subject. From trendspotting to identifying patterns or establishing averages– using quantitative data is a clear and effective way to start solving business problems.

Types of quantitative research questions

Quantitative market research questions are divided into two main types: descriptive and causal.

• Descriptive research questions seek to quantify a phenomenon by focusing on a certain population or phenomenon to measure certain aspects of it, such as frequency, average, or relationship.
• Causal research questions explore the cause-and-effect relationship between two or more variables.

The ultimate list of questions for quantitative market research

Get clear explanations of the different applications and approaches to quantitative research–with the added bonus of seeing what questions to ask and how they can impact your business.

Examples of quantitative research questions for competitive analysis

A powerful example of quantitative research in play is when it’s used to inform a competitive analysis . A process that’s used to analyze and understand how industry leaders and companies of interest are performing.

Pro Tip: Collect data systematically, and use a competitive analysis framework to record your findings. You can refer back to it when you repeat the process later in the year.

• What is the market share of our major competitors?
• What is the average purchase price of our competitors’ products?
• How often do our competitors release new products?
• What is the total number of customer reviews for our competitors’ products?
• What is the average rating of our competitors’ products?
• What is the average customer satisfaction score for our competitors?
• What is the average return rate of our competitors’ products?
• What is the average shipping time for our competitors’ products?
• What is the average price discount offered by our competitors?
• What is the average lifespan of our competitors’ products?

With this data, you can determine your position in the market and benchmark your performance against rival companies. It can then be used to improve offerings, service standards, pricing, positioning, and operational effectiveness. Notice that all questions can be answered with a numerical response , a key component of all successful examples of quantitative market research questions.

Quantitative research question example: market analysis

🙋‍♀️ Question: What is the market share of our major competitors?

🤓 Insight sought: Industry market share of leaders and key competitors.

🤯 Challenges with traditional quantitative research methods: Outdated data is a major consideration; data freshness remains critical, yet is often tricky to obtain using traditional research methods. Markets shift fast, so being able to obtain and track market share in real time is a challenge many face.

💡 A new approach: Similarweb enables you to track this key business KPI in real-time using digital data directly from the platform. On any day, you can see what your market share is, along with any players in your market. Plus, you get to see rising stars showing significant growth, who may pose a threat through market disruption or new tactics.

⏰ Time to insight: 30 seconds

✅ How it’s done: Using Similarweb’s Web Industry Analysis, two digital metrics give you the intel needed to decipher the market share in any industry. I’m using the Banking, Credit, and Lending market throughout these examples. I’ve selected the US market, analyzing the performance of the previous 3 months.

• Share of visits 

Here, I can see the top players in my market based on the number of unique visitors to their sites. On top of the raw data that shows me the volume of visitors as a figure, I can quickly see the two players ( Capital One and Chase ) that have grown and by what percentage. On the side, you can see rising players in the industry. Now, while my initial question was to establish the market share of my major competitors, I can see there are a few disruptive players in my market who I’d want to track too; Synchrony.com being one of particular interest, given their substantial growth and traffic numbers.

• Share of search 

Viewing the overall market size based on total search volumes, you can explore industry leaders in more detail. The top websites are the top five players, ranking by traffic share . You can also view the month-over-month change in visits, which shows you who is performing best at any given time . It’s the same five names, with Paypal and Chase leading the pack. However, I see Wells Fargo is better at attracting repeat visitors, while Capital One and Bank of America perform better at drawing in unique visitors.

In answer to my question, what is the market share of my major competitors, I can quickly use Similarweb’s quantitative data to get my answer.

This traffic share visual can be downloaded from the platform. It plots the ten industry leader’s market share and allocates the remaining share to the rest of the market.

I can also download a market quadrant analysis, which takes two key data points, traffic share and unique visitors, and plots the industry leaders. All supporting raw data can be downloaded in .xls format or connected to other business intelligence platforms via the API.

Quantitative research questions for consumer behavior studies

These studies measure and analyze consumer behavior, preferences, and habits . Any type of audience analysis helps companies better understand customer intent, and adjust offerings, messaging, campaigns, SEO, and ultimately offer more relevant products and services within a market.

• What is the average amount consumers spend on a certain product each month?
• What percentage of consumers are likely to purchase a product based on its price?
• How do the demographics of the target audience affect their purchasing behavior?
• What type of incentive is most likely to increase the likelihood of purchase?
• How does the store’s location impact product sales and turnover?
• What are the key drivers of product loyalty among consumers?
• What are the most commonly cited reasons for not buying a product?
• How does the availability of product information impact purchasing decisions?
• What is the average time consumers spend researching a product before buying it?
• How often do consumers use social media when making a purchase decision?

While applying a qualitative approach to such studies is also possible, it’s a great example of quantitative market research in action. For larger corporations, studies that involve a large, relevant sample size of a target market deliver vital consumer insights at scale .

Read More: 83 Qualitative Research Questions & Examples

Quantitative research question and answer: content strategy and analysis

🙋‍♀️ Question: What type of content performed best in the market this past month?

🤓 Insight sought: Establish high-performing campaigns and promotions in a market.

🤯 Challenges with traditional quantitative research methods: Whether you consider putting together a panel yourself, or paying a company to do it for you, quantitative research at scale is costly and time-consuming. What’s more, you have to ensure that sampling is done right and represents your target audience.

💡 A new approach: Data analysis is the foundation of our entire business. For over 10 years, Similarweb has developed a unique, multi-dimensional approach to understanding the digital world. To see the specific campaigns that resonate most with a target audience, use Similarweb’s Popular Pages feature. Key metrics show which campaigns achieve the best results for any site (including rival firms), campaign take-up, and periodic changes in performance and interest.

✅ How it’s done: I’ve chosen Capital One and Wells Fargo to review. Using the Popular Pages campaign filter, I can view all pages identified by a URL parameter UTM. For clarity, I’ve highlighted specific campaigns showing high-growth and increasing popularity. I can view any site’s trending, new, or best-performing pages using a different filter.

In this example, I have highlighted three campaigns showing healthy growth, covering teen checking accounts, performance savings accounts, and add-cash-in-store. Next, I will perform the same check for another key competitor in my market.

Here, I can see financial health tools campaigns with over 300% month-over-month growth and smarter credit and FICO campaigns showing strong performance. This tells me that campaigns focussing on education and tools are growing in popularity within this market. 

Examples of quantitative research questions for brand tracking

These studies are designed to measure customers’ awareness, perceptions, behaviors, and attitudes toward a brand over time. Different applications include measuring brand awareness , brand equity, customer satisfaction, and purchase or usage intent.

These types of research surveys ask questions about brand knowledge, brand attributes, brand perceptions, and brand loyalty . The data collected can then be used to understand the current state of a brand’s performance, identify improvements, and track the success of marketing initiatives.

• To what extent is Brand Z associated with innovation?
• How do consumers rate the quality of Brand Z’s products and services?
• How has the awareness of Brand Z changed over the past 6 months?
• How does Brand Z compare to its competitors in terms of customer satisfaction?
• To what extent do consumers trust Brand Z?
• How likely are consumers to recommend Brand Z?
• What factors influence consumers’ purchase decisions when considering Brand Z?
• What is the average customer satisfaction score for equity?
• How does equity’s customer service compare to its competitors?
• How do customer perceptions of equity’s brand values compare to its competitors?

Quantitative research question example and answer: brand tracking

🙋‍♀️ Question: How has the awareness of Brand Z changed over the past 6 months?

🤓 Insight sought: How has brand awareness changed for my business and competitors over time.

⏰ Time to insight: 2 minutes

✅ How it’s done: Using Similarweb’s search overview , I can quickly identify which brands in my chosen market have the highest brand awareness over any time period or location. I can view these stats as a custom market or examine brands individually.

Here, I’ve chosen a custom view that shows me five companies side-by-side. In the top right-hand corner, under branded traffic, you get a quick snapshot of the share of website visits that were generated by branded keywords. A branded keyword is when a consumer types the brand name + a search term.

Below that, you will see the search traffic and engagement section. Here, I’ve filtered the results to show me branded traffic as a percentage of total traffic. Similarweb shows me how branded search volumes grow or decline monthly. Helping me answer the question of how brand awareness has changed over time.

Quantitative research questions for consumer ad testing

Another example of using quantitative research to impact change and improve results is ad testing. It measures the effectiveness of different advertising campaigns. It’s often known as A/B testing , where different visuals, content, calls-to-action, and design elements are experimented with to see which works best. It can show the impact of different ads on engagement and conversions.

A range of quantitative market research questions can be asked and analyzed to determine the optimal approach.

• How does changing the ad’s headline affect the number of people who click on the ad?
• How does varying the ad’s design affect its click-through rate?
• How does altering the ad’s call-to-action affect the number of conversions?
• How does adjusting the ad’s color scheme influence the number of people who view the ad?
• How does manipulating the ad’s text length affect the average amount of time a user spends on the landing page?
• How does changing the ad’s placement on the page affect the amount of money spent on the ad?
• How does varying the ad’s targeting parameters affect the number of impressions?
• How does altering the ad’s call-to-action language impact the click-through rate?

Quantitative question examples for social media monitoring

Quantitative market research can be applied to measure and analyze the impact of social media on a brand’s awareness, engagement, and reputation . By tracking key metrics such as the number of followers, impressions, and shares, brands can:

• Assess the success of their social media campaigns
• Understand what content resonates with customers
• Spot potential areas for improvement
• How often are people talking about our brand on social media channels?
• How many times has our brand been mentioned in the past month?
• What are the most popular topics related to our brand on social media?
• What is the sentiment associated with our brand across social media channels?
• How do our competitors compare in terms of social media presence?
• What is the average response time for customer inquiries on social media?
• What percentage of followers are actively engaging with our brand?
• What are the most popular hashtags associated with our brand?
• What types of content generate the most engagement on social media?
• How does our brand compare to our competitors in terms of reach and engagement on social media?

Example of quantitative research question and answer: social media monitoring

🙋‍♀️ Question: How does our brand compare to our competitors in terms of reach and engagement on social media?

🤓 Insight sought: The social channels that most effectively drive traffic and engagement in my market

✅ How it’s done: Similarweb Digital Research Intelligence shows you a marketing channels overview at both an industry and market level. With it, you can view the most effective social media channels in any industry and drill down to compare social performance across a custom group of competitors or an individual company.

Here, I’ve taken the five closest rivals in my market and clicked to expand social media channel data. Wells Fargo and Bank of America have generated the highest traffic volume from social media, with over 6.6 million referrals this year. Next, I can see the exact percentage of traffic generated by each channel and its relative share of traffic for each competitor. This shows me the most effective channels are Youtube, Facebook, LinkedIn, and Reddit – in that order.

In 30-seconds, I’ve discovered the following:

• YouTube is the most popular social network in my market.
• Facebook and LinkedIn are the second and third most popular channels.
• Wells Fargo is my primary target for a more in-depth review, with the highest performance on the top two channels.
• Bank of America is outperforming all key players significantly on LinkedIn.
• American Express has found a high referral opportunity on Reddit that others have been unable to match.

Power-up Your Market Research with Similarweb Today

Examples of quantitative research questions for online polls.

This is one of the oldest known uses of quantitative market research. It dates back to the 19th century when they were first used in America to try and predict the outcome of the presidential elections.

Polls are just short versions of surveys but provide a point-in-time perspective across a large group of people. You can add a poll to your website as a widget, to an email, or if you’ve got a budget to spend, you might use a company like YouGov to add questions to one of their online polls and distribute it to an audience en-masse.

• What is your annual income?
• In what age group do you fall?
• On average, how much do you spend on our products per month?
• How likely are you to recommend our products to others?
• How satisfied are you with our customer service?
• How likely are you to purchase our products in the future?
• On a scale of 1 to 10, how important is price when it comes to buying our products?
• How likely are you to use our products in the next six months?
• What other brands of products do you purchase?
• How would you rate our products compared to our competitors?

Quantitative research questions for eye tracking studies

These research studies measure how people look and respond to different websites or ad elements. It’s traditionally an example of quantitative research used by enterprise firms but is becoming more common in the SMB space due to easier access to such technologies.

• How much time do participants spend looking at each visual element of the product or ad?
• How does the order of presentation affect the impact of time spent looking at each visual element?
• How does the size of the visual elements affect the amount of time spent looking at them?
• What is the average time participants spend looking at the product or ad as a whole?
• What is the average number of fixations participants make when looking at the product or ad?
• Are there any visual elements that participants consistently ignore?
• How does the product’s design or advertising affect the average number of fixations?
• How do different types of participants (age, gender, etc.) interact with the product or ad differently?
• Is there a correlation between the amount of time spent looking at the product or ad and the participants’ purchase decision?
• How does the user’s experience with similar products or ads affect the amount of time spent looking at the current product or ad?

Quantitative question examples for customer segmentation

Segmentation is becoming more important as organizations large and small seek to offer more personalized experiences. Effective segmentation helps businesses understand their customer’s needs–which can result in more targeted marketing, increased conversions, higher levels of loyalty, and better brand awareness.

If you’re just starting to segment your market, and want to know the best quantitative research questions to ask to help you do this, here are 20 to choose from.

Examples of quantitative research questions to segment customers

• What is your age range?
• What is your annual household income?
• What is your preferred online shopping method?
• What is your occupation?
• What types of products do you typically purchase?
• Are you a frequent shopper?
• How often do you purchase products online?
• What is your typical budget for online purchases?
• What is your primary motivation for purchasing products online?
• What factors influence your decision to purchase a product online?
• What device do you use most often when shopping online?
• What type of product categories are you most interested in?
• Do you prefer to shop online for convenience or for a better price?
• What type of discounts or promotions do you look for when making online purchases?
• How do you prefer to receive notifications about product promotions or discounts?
• What type of payment methods do you prefer when shopping online?
• What methods do you use to compare different products and prices when shopping online?
• What type of customer service do you expect when shopping online?
• What type of product reviews do you consider when making online purchases?
• How do you prefer to interact with a brand when shopping online?

Examples of quantitative research questions for analyzing customer segments

• What is the average age of customers in each segment?
• How do spending habits vary across customer segments?
• What is the average length of time customers spend in each segment?
• How does loyalty vary across customer segments?
• What is the average purchase size in each segment?
• What is the average frequency of purchases in each segment?
• What is the average customer lifetime value in each segment?
• How does customer satisfaction vary across customer segments?
• What is the average response rate to campaigns in each segment?
• How does customer engagement vary across customer segments?

These questions are ideal to ask once you’ve already defined your segments. We’ve written a useful post that covers the ins and outs of what market segmentation is and how to do it.

Additional applications of quantitative research questions

I’ve covered ten use cases for quantitative questions in detail. Still, there are other instances where you can put quantitative research to good use.

Product usage studies: Measure how customers use a product or service.

Preference testing: Testing of customer preferences for different products or services.

Sales analysis: Analysis of sales data to identify trends and patterns.

Distribution analysis: Analyzing distribution channels to determine the most efficient and effective way to reach customers.

Focus groups: Groups of consumers brought together to discuss and provide feedback on a particular product, service, or marketing campaign.

Consumer interviews: Conducted with customers to understand their behavior and preferences better.

Mystery shopping: Mystery shoppers are sent to stores to measure customer service levels and product availability.

Conjoint analysis: Analysis of how consumers value different attributes of a product or service.

Regression analysis: Statistical analysis used to identify relationships between different variables.

A/B testing: Testing two or more different versions of a product or service to determine which one performs better.

Brand equity studies: Measure, compare and analyze brand recognition, loyalty, and consumer perception.

Exit surveys: Collect numerical data to analyze employee experience and reasons for leaving, providing insight into how to improve the work environment and retain employees.

Price sensitivity testing: Measuring responses to different pricing models to find the optimal pricing model, and identify areas if and where discounts or incentives might be beneficial.

Quantitative market research survey examples

A recent GreenBook study shows that 89% of people in the market research industry use online surveys frequently–and for good reason. They’re quick and easy to set up, the cost is minimal, and they’re highly scalable too.

Questions are always formatted to provide close-ended answers that can be quantified. If you wish to collect free-text responses, this ventures into the realm of qualitative research . Here are a few examples.

Brand Loyalty Surveys: Companies use online surveys to measure customers’ loyalty to their brand. They include questions about how long an individual has been a customer, their overall satisfaction with the service or product, and the likelihood of them recommending the brand to others.

Customer Satisfaction Surveys: These surveys may include questions about the customer’s experience, their overall satisfaction, and the likelihood they will recommend a product or service to others.

Pricing Studies: This type of research reveals how customers value their products or services. These surveys may include questions about the customer’s willingness to pay for the product, the customer’s perception of the price and value, and their comparison of the price to other similar items.

Product/Service Usage Studies: These surveys measure how customers use their products or services. They can include questions about how often customers use a product, their preferred features, and overall satisfaction.

Here’s an example of a typical survey we’ve used when testing out potential features with groups of clients. After they’ve had the chance to use the feature for a period, we send a short survey, then use the feedback to determine the viability of the feature for future release.

Employee Experience Surveys: Another great example of quantitative data in action, and one we use at Similarweb to measure employee satisfaction. Many online platforms are available to help you conduct them; here, we use Culture AMP . The ability to manipulate the data, spot patterns or trends, then identify the core successes and development areas are astounding.

Read a connected post that shows 18 ways to use market research surveys .

How to answer quantitative research questions with Similarweb

For the vast majority of applications I’ve covered in this post, there’s a more modern, quicker, and more efficient way to obtain similar insights online. Gone are the days when companies need to use expensive outdated data or pay hefty sums of money to market research firms to conduct broad studies to get the answers they need.

By this point, I hope you’ve seen how quick and easy it is to use Similarweb to do market research the modern way. But I’ve only scratched the surface of its capabilities.

Take two to watch this introductory video and see what else you can uncover.

Added bonus: Similarweb API

If you need to crunch large volumes of data and already use tools like Tableau or PowerBI, you can seamlessly connect Similarweb via the API and pipe in the data. So for faster analysis of big data, you can leverage Similarweb data to use alongside the visualization tools you already know and love.

Similarweb’s suite of market intelligence solutions offers unbiased, accurate, honest insights you can trust. With a world of data at your fingertips, use Similarweb Digital Research Intelligence to uncover telling facts that help inform your research and strengthen your position.

Use it for:

Market Research

Benchmarking

Audience Insights

Company Research

Consumer Journey Tracking

Wrapping up

Today’s markets change at lightning speed. To keep up and succeed, companies need access to insights and intel they can depend on to be timely and on-point. While quantitative market research questions can and should always be asked, it’s important to leverage technology to increase your speed to insight, and thus improve reaction times and response to market shifts.

What is quantitative market research?

Quantitative market research is a form of research that uses numerical data to gain insights into the behavior and preferences of customers. It is used to measure and track the performance of products, services, and campaigns.

How does quantitative market research help businesses?

Quantitative market research can help businesses identify customer trends, measure customer satisfaction, and develop effective marketing strategies. It can also provide valuable insights into customer behavior, preferences, and attitudes.

What types of questions should be included in a quantitative market research survey?

Questions in a quantitative market research survey should be focused, clear, and specific. Questions should be structured to collect quantitative data, such as numbers, percentages, or frequency of responses.

What methods can be used to collect quantitative market research data?

Common methods used to collect quantitative market research data include surveys, interviews, focus groups, polls, and online questionnaires.

What are the advantages and disadvantages of using quantitative market research?

The advantages of using quantitative market research include the ability to collect data quickly, the ability to analyze data in a structured way, and the ability to identify trends. Disadvantages include the potential for bias, the cost of collecting data, and the difficulty in interpreting results.

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Your ultimate guide to quantitative research.

10 min read You may be already using quantitative research and want to check your understanding, or you may be starting from the beginning. Here’s an exploration of this research method and how you can best use it for maximum effect for your business.

You may be already using quantitative research and want to check your understanding, or you may be starting from the beginning. Here’s an exploration of this research method and how you can best use it for maximum effect for your business.

What is quantitative research?

Quantitative is the research method of collecting quantitative data – this is data that can be converted into numbers or numerical data, which can be easily quantified, compared, and analysed.

Quantitative research deals with primary and secondary sources where data is represented in numerical form. This can include closed-question poll results, statistics, and census information or  demographic data .

Quantitative data tends to be used when researchers are interested in understanding a particular moment in time and examining data sets over time to find trends and patterns.

To collect numerical data, surveys are often employed as one of the main research methods to source first-hand information in  primary research . Qualitative research can also  come from third-party research studies .

Quantitative research is widely used in the realms of social sciences, such as psychology, economics, sociology, and marketing.

Research teams collect data that is significant to proving or disproving a hypothesis research question – known as the research objective. When they collect quantitative data, researchers will  aim to use a sample size that is representative  of the total population of the target market they’re interested in.

Then the data collected will be manually or automatically stored and compared for insights.

Learn how Qualtrics can enhance & simplify the quantitative research process

Qualitative vs quantitative research

While the quantitative research definition focuses on numerical data, qualitative research is defined as data that supplies non-numerical information.

Qualitative research focuses on the thoughts, feelings, and values of a participant, to understand why people act in the way they do. They result in data types like quotes, symbols, images, and written testimonials.

These data types tell researchers subjective information, which can help us assign people into categories, such as a participant’s religion, gender, social class, political alignment, likely favoured products to buy, or their preferred training learning style.

For this reason, qualitative research is often used in social research, as this gives a window into the behaviour and actions of people.

In general, if you’re interested in measuring something or testing a hypothesis, use quantitative methods. If you want to explore ideas, thoughts, and meanings, use qualitative methods.

However, quantitative and qualitative research methods are both recommended when you’re looking to understand a point in time, while also finding out the reason behind the facts.

Quantitative research data collection methods

Quantitative research methods can use structured research instruments like:

A survey is a simple-to-create and easy-to-distribute research method, which helps gather information from large groups of participants quickly. Traditionally, paper-based surveys can now be made online, so costs can stay quite low.

Quantitative questions tend to be closed questions that ask for a numerical result, based on a range of options, or a yes/no answer that can be tallied quickly.

Face-to-face or phone interviews

Interviews are a great way to connect with participants , though they require time from the research team to set up and conduct.

Researchers may also have issues connecting with participants in different geographical regions. The researcher uses a set of predefined close-ended questions, which ask for yes/no or numerical values.

Polls can be a shorter version of surveys, used to get a ‘flavour’ of what the current situation is with participants. Online polls can be shared easily, though polls are best used with simple questions that request a range or a yes/no answer.

Quantitative data is the opposite of qualitative research, another dominant framework for research in the social sciences, explored further below.

Quantitative data types

Quantitative research methods often deliver the following data types:

• Test Scores
• Per cent of training course completed
• Performance score out of 100
• Number of support calls active
• Customer Net Promoter Score (NPS)

When gathering numerical data, the emphasis is on how specific the data is, and whether they can provide an indication of what ‘is’ at the time of collection. Pre-existing statistical data can tell us what ‘was’ for the date and time range that it represented.

Quantitative research design methods (with examples)

Quantitative research has a number of quantitative research designs you can choose from:

Descriptive

This design type describes the state of a data type is telling researchers, in its native environment. There won’t normally be a clearly defined research question to start with. Instead,  data analysis will suggest a conclusion, which can become the hypothesis to investigate further.

Examples of descriptive quantitative design include:

• A description of child’s Christmas gifts they received that year
• A description of what businesses sell the most of during Black Friday
• A description of a product issue being experienced by a customer

Correlational

This design type looks at two or more data types, the relationship between them, and the extent that they differ or align. This does not look at the causal links deeper – instead statistical analysis looks at the variables in a natural environment.

Examples of correlational quantitative design include:

• The relationship between a child’s Christmas gifts and their perceived happiness level
• The relationship between a business’ sales during Black Friday and the total revenue generated over the year
• The relationship between a customer’s product issue and the reputation of the product

Causal-Comparative/Quasi-Experimental

This design type looks at two or more data types and tries to explain any relationship and differences between them, using a cause-effect analysis. The research is carried out in a near-natural environment, where information is gathered from two groups – a naturally occurring group that matches the original natural environment, and one that is not naturally present.

This allows for causal links to be made, though they might not be correct, as other variables may have an impact on results.

Examples of causal-comparative/quasi-experimental quantitative design include:

• The effect of children’s Christmas gifts on happiness
• The effect of Black Friday sales figures on the productivity of company yearly sales
• The effect of product issues on the public perception of a product

Experimental Research

This design type looks to make a controlled environment in which two or more variables are observed to understand the exact cause and effect they have. This becomes a quantitative research study, where data types are manipulated to assess the effect they have. The participants are not naturally occurring groups, as the setting is no longer natural. A quantitative research study can help pinpoint the exact conditions in which variables impact one another.

Examples of experimental quantitative design include:

• The effect of children’s Christmas gifts on a child’s dopamine (happiness) levels
• The effect of Black Friday sales on the success of the company
• The effect of product issues on the perceived reliability of the product

Quantitative research methods need to be carefully considered, as your data collection of a data type can be used to different effects. For example, statistics can be descriptive or correlational (or inferential). Descriptive statistics help us to summarise our data, while inferential statistics help infer conclusions about significant differences.

Advantages of quantitative research

• Easy to do : Doing quantitative research is more straightforward, as the results come in numerical format, which can be more easily interpreted.
• Less interpretation : Due to the factual nature of the results, you will be able to accept or reject your hypothesis based on the numerical data collected.
• Less bias : There are higher levels of control that can be applied to the research, so  bias can be reduced , making your data more reliable and precise.

Disadvantages of quantitative research

• Can’t understand reasons:  Quantitative research doesn’t always tell you the full story, meaning you won’t understand the context – or the why, of the data you see, why do you see the results you have uncovered?
• Useful for simpler situations:  Quantitative research on its own is not great when dealing with complex issues. In these cases, quantitative research may not be enough.

How to use quantitative research to your business’s advantage

Quantitative research methods may help in areas such as:

• Identifying which advert or landing page performs better
• Identifying  how satisfied your customers are
• How many customers are likely to recommend you
• Tracking how your brand ranks in awareness  and customer purchase intent
• Learn what consumers are likely to buy from your brand.

6 steps to conducting good quantitative research

Businesses can benefit from quantitative research by using it to evaluate the impact of data types. There are several steps to this:

• Define your problem or interest area : What do you observe is happening and is it frequent? Identify the data type/s you’re observing.
• Create a hypothesis : Ask yourself what could be the causes for the situation with those data types.
• Plan your quantitative research : Use structured research instruments like surveys or polls to ask questions that test your hypothesis.
• Data Collection : Collect quantitative data and understand what your data types are telling you. Using data collected on different types over long time periods can give you information on patterns.
• Data analysis : Does your information support your hypothesis? (You may need to redo the research with other variables to see if the results improve)
• Effectively present data : Communicate the results in a clear and concise way to help other people understand the findings.

Learn how Qualtrics can enhance & simplify the quantitative research process

Related resources

Market intelligence 9 min read, qualitative research questions 11 min read, ethnographic research 11 min read, business research methods 12 min read, qualitative research design 12 min read, business research 10 min read, qualitative research interviews 11 min read, request demo.

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Home » Quantitative Research – Methods, Types and Analysis

Quantitative Research – Methods, Types and Analysis

Table of Contents

Quantitative Research

Quantitative research is a type of research that collects and analyzes numerical data to test hypotheses and answer research questions . This research typically involves a large sample size and uses statistical analysis to make inferences about a population based on the data collected. It often involves the use of surveys, experiments, or other structured data collection methods to gather quantitative data.

Quantitative Research Methods

Quantitative Research Methods are as follows:

Descriptive Research Design

Descriptive research design is used to describe the characteristics of a population or phenomenon being studied. This research method is used to answer the questions of what, where, when, and how. Descriptive research designs use a variety of methods such as observation, case studies, and surveys to collect data. The data is then analyzed using statistical tools to identify patterns and relationships.

Correlational Research Design

Correlational research design is used to investigate the relationship between two or more variables. Researchers use correlational research to determine whether a relationship exists between variables and to what extent they are related. This research method involves collecting data from a sample and analyzing it using statistical tools such as correlation coefficients.

Quasi-experimental Research Design

Quasi-experimental research design is used to investigate cause-and-effect relationships between variables. This research method is similar to experimental research design, but it lacks full control over the independent variable. Researchers use quasi-experimental research designs when it is not feasible or ethical to manipulate the independent variable.

Experimental Research Design

Experimental research design is used to investigate cause-and-effect relationships between variables. This research method involves manipulating the independent variable and observing the effects on the dependent variable. Researchers use experimental research designs to test hypotheses and establish cause-and-effect relationships.

Survey Research

Survey research involves collecting data from a sample of individuals using a standardized questionnaire. This research method is used to gather information on attitudes, beliefs, and behaviors of individuals. Researchers use survey research to collect data quickly and efficiently from a large sample size. Survey research can be conducted through various methods such as online, phone, mail, or in-person interviews.

Quantitative Research Analysis Methods

Here are some commonly used quantitative research analysis methods:

Statistical Analysis

Statistical analysis is the most common quantitative research analysis method. It involves using statistical tools and techniques to analyze the numerical data collected during the research process. Statistical analysis can be used to identify patterns, trends, and relationships between variables, and to test hypotheses and theories.

Regression Analysis

Regression analysis is a statistical technique used to analyze the relationship between one dependent variable and one or more independent variables. Researchers use regression analysis to identify and quantify the impact of independent variables on the dependent variable.

Factor Analysis

Factor analysis is a statistical technique used to identify underlying factors that explain the correlations among a set of variables. Researchers use factor analysis to reduce a large number of variables to a smaller set of factors that capture the most important information.

Structural Equation Modeling

Structural equation modeling is a statistical technique used to test complex relationships between variables. It involves specifying a model that includes both observed and unobserved variables, and then using statistical methods to test the fit of the model to the data.

Time Series Analysis

Time series analysis is a statistical technique used to analyze data that is collected over time. It involves identifying patterns and trends in the data, as well as any seasonal or cyclical variations.

Multilevel Modeling

Multilevel modeling is a statistical technique used to analyze data that is nested within multiple levels. For example, researchers might use multilevel modeling to analyze data that is collected from individuals who are nested within groups, such as students nested within schools.

Applications of Quantitative Research

Quantitative research has many applications across a wide range of fields. Here are some common examples:

• Market Research : Quantitative research is used extensively in market research to understand consumer behavior, preferences, and trends. Researchers use surveys, experiments, and other quantitative methods to collect data that can inform marketing strategies, product development, and pricing decisions.
• Health Research: Quantitative research is used in health research to study the effectiveness of medical treatments, identify risk factors for diseases, and track health outcomes over time. Researchers use statistical methods to analyze data from clinical trials, surveys, and other sources to inform medical practice and policy.
• Social Science Research: Quantitative research is used in social science research to study human behavior, attitudes, and social structures. Researchers use surveys, experiments, and other quantitative methods to collect data that can inform social policies, educational programs, and community interventions.
• Education Research: Quantitative research is used in education research to study the effectiveness of teaching methods, assess student learning outcomes, and identify factors that influence student success. Researchers use experimental and quasi-experimental designs, as well as surveys and other quantitative methods, to collect and analyze data.
• Environmental Research: Quantitative research is used in environmental research to study the impact of human activities on the environment, assess the effectiveness of conservation strategies, and identify ways to reduce environmental risks. Researchers use statistical methods to analyze data from field studies, experiments, and other sources.

Characteristics of Quantitative Research

Here are some key characteristics of quantitative research:

• Numerical data : Quantitative research involves collecting numerical data through standardized methods such as surveys, experiments, and observational studies. This data is analyzed using statistical methods to identify patterns and relationships.
• Large sample size: Quantitative research often involves collecting data from a large sample of individuals or groups in order to increase the reliability and generalizability of the findings.
• Objective approach: Quantitative research aims to be objective and impartial in its approach, focusing on the collection and analysis of data rather than personal beliefs, opinions, or experiences.
• Control over variables: Quantitative research often involves manipulating variables to test hypotheses and establish cause-and-effect relationships. Researchers aim to control for extraneous variables that may impact the results.
• Replicable : Quantitative research aims to be replicable, meaning that other researchers should be able to conduct similar studies and obtain similar results using the same methods.
• Statistical analysis: Quantitative research involves using statistical tools and techniques to analyze the numerical data collected during the research process. Statistical analysis allows researchers to identify patterns, trends, and relationships between variables, and to test hypotheses and theories.
• Generalizability: Quantitative research aims to produce findings that can be generalized to larger populations beyond the specific sample studied. This is achieved through the use of random sampling methods and statistical inference.

Examples of Quantitative Research

Here are some examples of quantitative research in different fields:

• Market Research: A company conducts a survey of 1000 consumers to determine their brand awareness and preferences. The data is analyzed using statistical methods to identify trends and patterns that can inform marketing strategies.
• Health Research : A researcher conducts a randomized controlled trial to test the effectiveness of a new drug for treating a particular medical condition. The study involves collecting data from a large sample of patients and analyzing the results using statistical methods.
• Social Science Research : A sociologist conducts a survey of 500 people to study attitudes toward immigration in a particular country. The data is analyzed using statistical methods to identify factors that influence these attitudes.
• Education Research: A researcher conducts an experiment to compare the effectiveness of two different teaching methods for improving student learning outcomes. The study involves randomly assigning students to different groups and collecting data on their performance on standardized tests.
• Environmental Research : A team of researchers conduct a study to investigate the impact of climate change on the distribution and abundance of a particular species of plant or animal. The study involves collecting data on environmental factors and population sizes over time and analyzing the results using statistical methods.
• Psychology : A researcher conducts a survey of 500 college students to investigate the relationship between social media use and mental health. The data is analyzed using statistical methods to identify correlations and potential causal relationships.
• Political Science: A team of researchers conducts a study to investigate voter behavior during an election. They use survey methods to collect data on voting patterns, demographics, and political attitudes, and analyze the results using statistical methods.

How to Conduct Quantitative Research

Here is a general overview of how to conduct quantitative research:

• Develop a research question: The first step in conducting quantitative research is to develop a clear and specific research question. This question should be based on a gap in existing knowledge, and should be answerable using quantitative methods.
• Develop a research design: Once you have a research question, you will need to develop a research design. This involves deciding on the appropriate methods to collect data, such as surveys, experiments, or observational studies. You will also need to determine the appropriate sample size, data collection instruments, and data analysis techniques.
• Collect data: The next step is to collect data. This may involve administering surveys or questionnaires, conducting experiments, or gathering data from existing sources. It is important to use standardized methods to ensure that the data is reliable and valid.
• Analyze data : Once the data has been collected, it is time to analyze it. This involves using statistical methods to identify patterns, trends, and relationships between variables. Common statistical techniques include correlation analysis, regression analysis, and hypothesis testing.
• Interpret results: After analyzing the data, you will need to interpret the results. This involves identifying the key findings, determining their significance, and drawing conclusions based on the data.
• Communicate findings: Finally, you will need to communicate your findings. This may involve writing a research report, presenting at a conference, or publishing in a peer-reviewed journal. It is important to clearly communicate the research question, methods, results, and conclusions to ensure that others can understand and replicate your research.

When to use Quantitative Research

Here are some situations when quantitative research can be appropriate:

• To test a hypothesis: Quantitative research is often used to test a hypothesis or a theory. It involves collecting numerical data and using statistical analysis to determine if the data supports or refutes the hypothesis.
• To generalize findings: If you want to generalize the findings of your study to a larger population, quantitative research can be useful. This is because it allows you to collect numerical data from a representative sample of the population and use statistical analysis to make inferences about the population as a whole.
• To measure relationships between variables: If you want to measure the relationship between two or more variables, such as the relationship between age and income, or between education level and job satisfaction, quantitative research can be useful. It allows you to collect numerical data on both variables and use statistical analysis to determine the strength and direction of the relationship.
• To identify patterns or trends: Quantitative research can be useful for identifying patterns or trends in data. For example, you can use quantitative research to identify trends in consumer behavior or to identify patterns in stock market data.
• To quantify attitudes or opinions : If you want to measure attitudes or opinions on a particular topic, quantitative research can be useful. It allows you to collect numerical data using surveys or questionnaires and analyze the data using statistical methods to determine the prevalence of certain attitudes or opinions.

Purpose of Quantitative Research

The purpose of quantitative research is to systematically investigate and measure the relationships between variables or phenomena using numerical data and statistical analysis. The main objectives of quantitative research include:

• Description : To provide a detailed and accurate description of a particular phenomenon or population.
• Explanation : To explain the reasons for the occurrence of a particular phenomenon, such as identifying the factors that influence a behavior or attitude.
• Prediction : To predict future trends or behaviors based on past patterns and relationships between variables.
• Control : To identify the best strategies for controlling or influencing a particular outcome or behavior.

Quantitative research is used in many different fields, including social sciences, business, engineering, and health sciences. It can be used to investigate a wide range of phenomena, from human behavior and attitudes to physical and biological processes. The purpose of quantitative research is to provide reliable and valid data that can be used to inform decision-making and improve understanding of the world around us.

Advantages of Quantitative Research

There are several advantages of quantitative research, including:

• Objectivity : Quantitative research is based on objective data and statistical analysis, which reduces the potential for bias or subjectivity in the research process.
• Reproducibility : Because quantitative research involves standardized methods and measurements, it is more likely to be reproducible and reliable.
• Generalizability : Quantitative research allows for generalizations to be made about a population based on a representative sample, which can inform decision-making and policy development.
• Precision : Quantitative research allows for precise measurement and analysis of data, which can provide a more accurate understanding of phenomena and relationships between variables.
• Efficiency : Quantitative research can be conducted relatively quickly and efficiently, especially when compared to qualitative research, which may involve lengthy data collection and analysis.
• Large sample sizes : Quantitative research can accommodate large sample sizes, which can increase the representativeness and generalizability of the results.

Limitations of Quantitative Research

There are several limitations of quantitative research, including:

• Limited understanding of context: Quantitative research typically focuses on numerical data and statistical analysis, which may not provide a comprehensive understanding of the context or underlying factors that influence a phenomenon.
• Simplification of complex phenomena: Quantitative research often involves simplifying complex phenomena into measurable variables, which may not capture the full complexity of the phenomenon being studied.
• Potential for researcher bias: Although quantitative research aims to be objective, there is still the potential for researcher bias in areas such as sampling, data collection, and data analysis.
• Limited ability to explore new ideas: Quantitative research is often based on pre-determined research questions and hypotheses, which may limit the ability to explore new ideas or unexpected findings.
• Limited ability to capture subjective experiences : Quantitative research is typically focused on objective data and may not capture the subjective experiences of individuals or groups being studied.
• Ethical concerns : Quantitative research may raise ethical concerns, such as invasion of privacy or the potential for harm to participants.

About the author

Muhammad Hassan

Researcher, Academic Writer, Web developer

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TECH Quantitative Stock Analysis

March 30, 2024 — 01:05 pm EDT

Written by John Reese for Validea  ->

Below is Validea's guru fundamental report for BIO-TECHNE CORP ( TECH ) . Of the 22 guru strategies we follow, TECH rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram . This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.

BIO-TECHNE CORP ( TECH ) is a large-cap growth stock in the Biotechnology & Drugs industry. The rating using this strategy is 77% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.

The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.

Detailed Analysis of BIO-TECHNE CORP

TECH Guru Analysis

TECH Fundamental Analysis

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Partha Mohanram Portfolio

About Partha Mohanram : Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.

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About Validea : Validea is an investment research service that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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