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AI Tools for Market Research: Revolutionizing Strategies Today

Kate Williams

9 January 2024

10 min read

Using AI tools for market research is a game changer.

Come to think of it, what is that one thing you wish you had more of?  For me, it is nothing but time! And that’s precisely what artificial intelligence saves. Especially in a world that is crazy about instant data!

This blog will look into the top AI market research tools, their features, and pricing!

And I have added a table at the end for a quick sneak peek.

Off we go!

But, before that…

What is an AI Market Research Tool?

An AI market research tool is like having an advanced assistant for businesses that seek comprehensive insights. Well, think of it as a sophisticated data analyst who can collect, process, and interpret vast amounts of information.

When you have a question about your market, these tools don’t just find the answer but dig deep. They uncover patterns and trends that might be hidden from the human eye.

These tools utilize cutting-edge technologies such as advanced algorithms and machine learning to automate and elevate market research.

Benefits of Using AI Tools for Market Research

So, why are businesses hooked on AI tools for Market Research?  Here’s the lowdown:

  • Efficiency Boost: AI tools make things faster. They zip through tasks that would take humans ages. This speed not only saves time but lets businesses act quickly on insights.
  • Super Accuracy: No room for errors. Artificial Intelligence doesn’t mess around. It’s meticulous and precise. When it analyzes data, you can trust that the results are on point—no room for mistakes.
  • Real-Time Data: Get updates on the spot. AI tools keep you in the loop with the latest market trends. No more waiting around!
  • Easy on Small Businesses: Even if you’re small, AI tools are your budget-friendly ally for deep market insights. Who wouldn’t like a tool that provides powerful insights without draining your resources?
  • Customer Connection: With these tools, you can understand your customers better. It’s like having a virtual chat that gets them.

Read More: Benefits of Using AI in Your Surveys

Top 11 AI Tools For Market Research

Now, let’s dive deep with the first in the list:

1. SurveySparrow


SurveySparrow makes market research easy. Create surveys, share them, analyze data, and get insights. It fits into your workflow, offering a solution for every part of your market research journey.

Let’s see why SurveySparrow’s market research tool stands out:

  • Custom Panel Profiling: Reach a global audience with SurveySparrow’s extensive and diverse audience panel.
  • Question Piping for Human Touch: Infuse a conversational flow into your surveys for a more engaging experience.
  • Smart Surveys: Create surveys with different questions for a personal touch.
  • AI Survey Builder: Use the power of AI to build surveys. Enter a prompt and let AI do the magic. Plus, with the ChatGpt plugin, everything becomes more accessible!
  • Tailored Surveys: Ask questions based on previous answers for a more focused interaction.
  • Conversational Forms: Make surveys feel like a chat for a more engaging experience.
  • Diverse Audience: Reach a global audience with SurveySparrow’s varied panel.
  • Insights and Tracking: Dive into your data with an easy-to-understand dashboard and track survey performance.

Try SurveySparrow with a risk-free 14-day free trial. No credit card is required, and you can cancel anytime. Need a demo? We’ve got you covered.

2. Hotjar


Hotjar is an all-in-one analytics and feedback tool that helps businesses understand and analyze user website behavior.

It gives you insights into what users click on, where they move their mouse, and how they scroll through your web pages.

This information helps businesses improve their websites to make them more user-friendly.

Key Features:

  • Heatmaps:  Hotjar generates visual heatmaps showing where users click, move, and scroll on your website. This helps identify the most engaging and problematic areas of your pages.
  • Session Recordings: Record and play back videos of real users interacting with your website so you can see how they navigate it. This feature helps uncover usability issues and understand user journeys.
  • Feedback Polls and Surveys: This lets you create simple surveys on your website to ask users about their experiences or preferences. You can gather direct feedback from users to understand their preferences, pain points, and opinions.
  • User Recruitment and Testing: With Hotjar, you can recruit and test users for feedback on new features, designs, or prototypes.
  • Conversion Funnels: This shows users’ steps on your website before completing a goal (like making a purchase), helping you understand where they might drop off. This feature is essential for optimizing the user journey and increasing conversion rates.


  • Free Forever Plan: 35 daily sessions
  • Paid Plan: Starts at $32 /month

2. Appen


Established in 1996, Appen is a globally recognized leader in providing high-quality training data for machine learning and artificial intelligence. It focuses on Large Language Models and deep learning.

The platform follows ethical AI practices and believes in the transformative power of Artificial Intelligence.

Key Features:

  • Data Annotation: The skilled team tags various types of data to help train AI algorithms, making them smart in recognizing images and understanding language.
  • Speech Data Collection: The platform gathers many speech recordings to help AI better understand spoken words. They record and write down what’s said, making AI smarter in recognizing speech.
  • Text Data Collection: It takes written information and makes it better for AI to understand. This makes AI better at understanding language and generating human-like text.
  • Geo-Local Evaluation: Dives deep into data tied to specific locations, ensuring that AI doesn’t just understand the content but does so in a way that fits the local scene.
  • Search Relevance Evaluation: Appen rigorously evaluates search engine relevance through human evaluators, continuously enhancing search algorithms for improved user experience.


You can request a consultation with their team

3. Consensus


Consensus goes beyond conventional analytics, offering a sophisticated platform that amalgamates data from diverse sources for a holistic understanding of market dynamics.

It combines information from everywhere to give you the big picture of what’s happening in the market.

Key Features:

  • Integrated Data Fusion: Consensus is excellent at putting all the info from different places into one clear view. No more missing important details—it’s all there in one place.
  • Predictive Analytics Engine: It’s not just about what happened. Consensus can also tell you what might happen next. This helps you plan and stay ahead of the game.
  • AI-Driven Sentiment Analysis: Consensus goes beyond numbers. It can read the ‘vibes’ in the data, telling you how customers feel. Understanding emotions helps you make decisions that connect with your audience.
  • Real-time Collaboration Hub: Teams can work together in real-time using Consensus. It’s like a meeting hub where everyone can discuss the data, ensuring everyone is on the same page.


  • Free Plan: 20 AI credits per month
  • Premium Plan: $6.99 / month

4. ChatGPT


ChatGPT is a cutting-edge market research tool transforming how businesses engage with data. It uses the power of conversational AI to facilitate insightful interactions, making market research more accessible and dynamic.

Key Features:

  • Conversational Analytics: ChatGPT isn’t just about data. It talks with you about it. This conversational approach makes understanding complex insights feel like a natural conversation, making data more digestible.
  • Language Adaptability: It’s more like talking to a language expert. ChatGPT understands and adapts to different ways people ask questions. This versatility makes it easier for users to communicate and extract precise information.
  • Continuous Learning Capability: The platform learns and evolves. The more you interact, the smarter it gets. This continuous learning capability ensures it stays on top of industry trends and evolving market dynamics.
  • Dynamic Scenario Exploration: ChatGPT is not static. It can explore different scenarios with you, helping businesses anticipate outcomes and make informed decisions in a dynamic market environment.


Contact the team for a quote.

5. Poll The People


Poll The People is like having a conversation with the whole world. It’s not just surveys; it’s everyone’s opinions coming together. This tool helps businesses make decisions based on what a big group of people thinks.

It transcends traditional surveys. It’s like having an interactive platform where businesses can tap into real-time feedback to inform strategic decisions.

Key Features:

Crowdsourced Decision Making: It’s about collective decision-making. Businesses can get ideas from many people to make smarter choices.
Instant Polling Feedback: Speed is key. The platform gives answers super fast. Businesses can ask a question and get responses right away, helping them stay quick on their feet.
Interactive Engagement Tools: It’s not dull! There are fun tools like quizzes and visual polls. It makes answering questions enjoyable for people taking part.
Demographic Targeting: Precision matters. This tool allows businesses to target specific demographics, ensuring that insights are comprehensive and tailored to their target audience’s unique characteristics.


  • Lite Plan: $1 per response
  • Plus Plan: $50/Month

6. Speak


Imagine having a chat that helps your business grow. That’s Speak! It’s not about boring surveys. The platform lets you talk to your customers and understand what they want.

Key Features:

  • Talk Naturally: Speak doesn’t want formal answers. It chats with people in a friendly way, making conversations feel natural and getting more meaningful answers.
  • Sentiment Analysis: Speak knows if people are happy, sad, or excited. Understanding feelings gives businesses a deeper look into what customers think.
  • Multi-Channel Engagement: It’s not limited to one platform. Speak engages users across various channels, from websites to social media, creating a versatile approach to reach and connect with diverse audiences.
  • Interactive Multimedia Elements: Speak incorporates multimedia elements like images and videos into conversations. This makes the interaction more dynamic and captures a broader range of responses.


  • A Pay-as-you-go transcription is there
  • Starter Plan:  $57/month

7. Pecan


Pecan is an AI tool for market research that’s all about looking ahead with its Predictive GenAI. No tech hurdles, no coding hassles—sign up for free and dive into the world of future-focused analytics.

Key Features:

  • Proactive Predictive Analytics: Users can generate accurate predictions effortlessly, transforming their data into valuable, customized predictive models without dwelling on historical data.
  • Guided or DIY Predictive Modeling: The Predictive Chat guides users to a personalized, SQL-based Predictive Notebook, fostering an inclusive environment for diverse data teams.
  • Messy Data Made Manageable: This unique feature ensures businesses can trust the predictions generated.
  • Easy Deployment: It enables users to deploy these predictions effortlessly to relevant production systems.


Starter plan: $50/month

8. FormX

formsx homepage

FormX becomes your partner in automating data extraction and document conversion. It takes businesses on their digital transformation journey by seamlessly transforming analog to digital.

Key Features:

  • Versatile Document Handling: It takes the hassle out of handling various forms and documents. From invoices to HR forms, it effortlessly automates data extraction and conversion.
  • Pre-configured Data Extraction Models: No need to start from scratch. Extracting data is just a click away, simplifying your workflow.
  • Effortless API Integration:’s data extraction operates seamlessly through APIs. It returns results in JSON format.
  • User-friendly Web Portal: Navigate with ease. The platform offers a user-friendly web portal with intuitive instructions. This makes it a low or no-code platform.


  • Free Trial: You get 100 pages free
  • Starter Pack: 299/month

9. Crayon


Crayon is a premier AI market research tool that delivers profound insights to businesses seeking clarity. It is a comprehensive solution, decoding market trends and providing real-time intelligence to drive informed decision-making. It is a go-to tool to get a sense of the market.

Key Features:

  • Real-time Market Monitoring: Crayon doesn’t blink. It keeps an eye on the market all the time. Get updates instantly and stay in the loop with what your competitors are up to and what trends are buzzing.
  • Competitor Analysis Made Easy: Wondering what your rivals are cooking? Crayon’s got it covered. It analyzes your competitors’ moves so you can plan your next steps wisely and stay one step ahead.
  • Customizable Alerts: No need to drown in unnecessary information. Crayon lets you choose what matters. Set up alerts for specific changes or trends so you only get what’s essential for your business.
  • User-friendly Dashboard: Data doesn’t have to be confusing. The dashboard is like your business command center. It organizes all the information neatly, making it easy to understand and act upon.
  • Market Trend Analysis: Predict the future (well, almost). It looks at trends and helps you see what’s coming. This way, you can adapt your strategies and stay relevant in a fast-changing market.


You can request a quote

10. Wevo


Wevo emerges as a dynamic ally to your business. It simplifies the intricate world of market research for businesses. Think of it as your guide, navigating the complexities and providing clear insights to propel your success.

Key features:

  • Quick and Easy Insights: You get accurate and actionable reports are just minutes away. Effortless testing means more time for strategic improvements.
  • Benchmark Your User Experience: Measure up against the best. Stack your user experience against competitors and industry benchmarks.
  • Qualitative Feedback Simplified: Understand the “why” behind user feedback easily. No more guessing—just informed decision-making.
  • AI-Powered Testing: WEVO combines the power of artificial intelligence and real human experts to deliver fast UX insights. With data and feedback from 100-plus users per test, you get easy-to-understand reports in days, not weeks.
  • Effortless Test Setup: WEVO takes it from there. Visualize what users like and dislike about your page and gain insights into industry benchmarks.


Request the team for a quote

Table of Comparison

ToolUnique FeatureSuitable ForStarting Price
SurveySparrowAI Survey BuilderGlobal Surveys$19/month
HotjarHeatmapsWebsite Analysis$32/month
AppenData AnnotationAI TrainingContact for Quote
ConsensusIntegrated Data FusionComprehensive Insights$6.99/month
ChatGPTConversational AnalyticsDynamic InteractionContact for Quote
Poll The PeopleCrowdsourced Decision MakingInstant Feedback$50/month
SpeakSentiment AnalysisCustomer Conversations$57/month
PecanPredictive AnalyticsFuture-focused Analysis$50/month
FormXVersatile Document HandlingData Extraction$299/month
CrayonReal-time Market MonitoringCompetitor AnalysisContact for Quote
WevoAI-Powered TestingQuick InsightsContact for Quote

Wrap Up!

Using AI tools for market research is like having a super-smart assistant for your business!

They learn and adapt, making surveys feel more like friendly chats. Plus, they connect you with people worldwide, giving you a complete picture of what’s happening.

Using AI tools isn’t just a choice right now. It’s a must for your business to come to the frontline!

Kate Williams

Content Marketer at SurveySparrow

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