LLMs are impacting nearly every area of market research. There are two key areas where they are impacting the quantitative domain specifically: analysis of dark data (e.g. open ended responses) at scale, and “synthetic responses”. We’ll review different approaches to the application of LLMs to open-ended coding using hands-on examples, and evaluate when each approach is best used. We will then briefly review the existing literature and state of the art on synthetic respondents.
