Consumers: How to Get Reliable Information?

In order to obtain truthful and accurate information free of any bias, it is preferred to analyze consumers through their online behavior, because when conducting traditional surveys, people tend to lie to give a good impression.

Tuesday, February 23, 2021

Although the most recommended is to analyze large volumes of data that are generated by consumers when interacting in the digital environment, surveys can work under specific conditions.

See "Central American Consumer: Trends at the beginning of 2021"

According to the book "Everybody lies: What the Internet and Big Data Can Tell Us About Ourselves," the more impersonal the conditions under which a survey is conducted, the more honest the respondents will be. For truthful responses, Internet surveys are better than phone surveys, which in turn are better than in-person surveys. People will admit more things alone than if there are other people in the same room.

When asked how can we know what other people are really thinking and doing, Seth Stephens-Davidowitz, the book's author, economist and data scientist, answers that there are data sources such as digital resources that meet the basic requirements for consumers to freely disclose information.

You may be interested in "How do Purchasing Intentions Evolve?"

The book reviews that it is now possible to take advantage that "... online resources make people admit things they would not admit anywhere else. Such resources act as a digital truth serum. Think of Google searches. Recall the conditions under which people are most honest. Online? It's true. Alone? It's true. No one takes the survey? It's fulfilled."

What consumers type into Internet search engines reveals a behavior or idea that people would have a hard time admitting in public, data that is valuable to companies that are thirsty for truthful information, the book points out.

See information about the book and the author.

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