How can survey bias influence results?
Survey bias can impact survey results in a number of significant ways:
Misleading conclusions
When data is compromised by survey bias, it generates misleading or inaccurate conclusions and insights, which can in turn compromise the quality of decision-making.
Inaccurate representations and overstatements
Survey bias can generate unrealistic expectations regarding the projected performance of a product, service, or idea in-market. Through inaccurate representations and overstatements of the product, service, or idea’s appeal, resources may be directed toward something that will not, in reality, succeed, even if the data indicates that it might.
Wasted resources
Market research is often used to determine where best to invest resources. If a survey indicates a certain product should move on to development, but that result is premised on biased survey data, then there is a significant risk that the resources invested in bringing that product to market will be wasted.
Use predictive market research to help prevent survey bias
While traditional methodologies struggle to mitigate the impact of survey bias, an innovative predictive market research design can minimize most forms of data bias as it relates to claimed human behavior.
In a prediction market methodology, for example, participants are asked to bet virtual currency on how they believe a target audience or consumer segment will respond to a product, idea, event, or concept. Because participants are not answering for themselves, but rather trying to predict how others will behave based on their tacit knowledge, they’re much more likely to answer honestly and more accurately, without the influence of various response biases. The result is significant mitigation of survey bias, more accurate results, higher quality data, and more successful predictions of in-market success.
With CRG Predictive Intelligence, the data never lies
CRG’s industry-leading HUUNU platform is a behavior-based predictive research methodology with a proven in-market accuracy rate of 90%, three years out and beyond. Whether you’re testing a new product, advertising messaging, or early-stage ideas, HUUNU’s innovative prediction market methodology delivers accurate results free of the negative impacts of survey bias, for bulletproof decision-making and crystal-clear strategic guidance.
Leverage the proven power of predictive intelligence today.