Thinking of a Career in Market Research? Here’s What You Need to Know!

One of my greatest passions is gathering, monitoring, and analyzing data for meaningful and actionable insights. Knowing that these insights help our clients make well-informed decisions that will have a positive and long-term impact on their businesses and thus help change the world for the better always excites me.

I am inspired primarily by my father, Mr. Srinivas Rao Lokam, and my former manager, Mr. Bharadwaj Reddy.

I like playing chess and squash, learning photography, and watching sci-fi movies.

One of the main trends we observed is the need to accelerate time-to-insight generation.

In addition, AI and automation are increasingly being used in the research industry to improve efficiency, save time, and cut costs, as well as enhance a company’s pricing and value proposition.

Companies that capitalize on such trends will gain a competitive advantage to grow their businesses and provide more value to their clients.

Recently, we worked on a local project for an Indian client to evaluate the viability of setting up a new school in Hyderabad—the capital of the Indian state of Telangana.

We organized several field visits, conducted in-person interviews, and administered surveys to gather necessary data.

We also developed a proprietary model for this project. Finally, our client benefited from the research findings and followed our recommendations.

One of our clients from the generator manufacturing sector in India wanted to assess the threat from the transition of using generators as backup power to battery storage and fuel cells.

In addition, the client was interested to know the companies moving toward battery storage and away from generators. The client wanted to identify the backup power equipment manufacturers/suppliers catering to telecommunications applications.

Our client also required us to provide advice/recommendations on adapting to these market conditions.

We leveraged the existing market data and forecasts from the syndicated market research reports for this project. Subsequently, we performed a Life-Cycle Cost Analysis (LCCA) for generators, batteries, and other alternatives for a telecom Base Transceiver Station (BTS).

We had detailed discussions with tier-1 and tier-2 generator manufacturers and battery suppliers along with telecom operators.

We surveyed to understand the major reasons for shifting from generators to other alternatives. Later, we prepared a comprehensive list of existing and potential companies in the battery and fuel cell manufacturing and distribution industry.

Furthermore, we compiled a list of telecom companies transitioning toward battery storage and other alternatives. Considering the adoption rate and other parameters, we simulated different scenarios—thereby estimating their respective impact on the demand for generators.

Our client used the study results and recommendations to make critical decisions on their product offerings and business growth strategy.

I establish team goals that align with the company’s objectives and goals. I follow the SMART (Specific, Measurable, Achievable, Relevant, and Time-Bound) goal-setting framework.

Before setting specific targets, I make sure to engage with team members to suggest their own targets and work along with them to arrive at a mutually agreeable and achievable target.

Here are some tips for market research career aspirants:

• Stay curious and learn to identify trends and patterns.
• Understand fundamental statistical concepts such as correlation and causation.
• Learn market research basics.
• Sharpen your reading comprehension and problem-solving skills.
• Keep up with industry news and significant developments.

With the continuous transformation of the energy industry and the growing construction industry, Blackridge Research & Consulting is uniquely positioned to capitalize on its offerings and provide forward-thinking and trusted insights to our clients.