Innovative Tool Revolutionizes Primary Research by Generating Diverse, Realistic Responses to Surveys in Minutes
NEW YORK, NY / ACCESSWIRE / June 6, 2024 / Avenue Group - a leading strategy and research firm - is excited to announce the launch of the beta phase of its groundbreaking AI-powered Audience Simulator. This state-of-the-art technology is set to revolutionize the way market researchers, consultants, and brands conduct research by generating diverse and realistic responses to surveys and interviews in just minutes, enabling deeper insights while also saving organizations time and money.
The Avenue Group Audience Simulator
Conducting research using traditional panels can be challenging due to time-consuming tasks, high costs, difficulty in finding niche segments, participant fatigue, and bias. The Avenue Group Audience Simulator addresses these problems, unlocking new ways to conduct effective research for fast and effortless insights.
Powered by generative AI, the simulator can emulate specific individuals' tones, personalities, expertise, and even sense of humor, enabling the simulation of responses from hundreds or thousands of people. This technology is based on the extensive knowledge of ChatGPT, developed with proprietary technology, and optimized using real-world interviews and surveys.
"Having faced numerous challenges in conducting research, we designed the Audience Simulator to tackle the most persistent pain points in primary research," explains Jeremy Greenberg, Founder of Avenue Group. "This tool revolutionizes the way we gather and analyze data, offering researchers rapid, in-depth insights that were previously unimaginable, streamlining processes and significantly cutting costs."
Watch product overview video here:
Built on Leading Academic Research
The Audience Simulator builds off a body of academic research showcasing the promise of AI for research from Harvard Business School, Massachusetts Institute of Technology (MIT), and The Wharton School of the University of Pennsylvania, where one of our advisors serves as a leading AI Researcher.
"Generative AI is revolutionizing market research, facilitating rapid iterations of surveys and responses that allow us to collect data more quickly and gain deeper insights from the outset.," said Lennart Meincke, AI Researcher at Wharton and Advisor at Avenue Group. "I'm enthusiastic about the trajectory Avenue Group is on and all the potential applications of their Audience Simulator product."
Does it Really Work? Survey Says…
"The first question we hear from prospective customers is, 'Does it work?'," said Jason Shore, Head of Product at Avenue Group. "We've compared to a wide range of real human research studies, and we've found that our simulated responses mirror human responses well, quantitatively and qualitatively. And you can do things with simulated responders you just can't do with people - ask follow-ups after a survey has ended, for example, or even 'adjust' attributes like the town they live in or their income level to get more control over your study."
One such comparison shown below:
Does this Replace Humans?
"We believe in the immense power of conducting human research," said Jeremy Greenberg. "This tool does not replace that but makes it more powerful."
The Audience Simulator can be used in two ways as add-ons to improve your research:
- Conduct a pre-test just like you would do for a soft launch of a regular survey. This allows you to preview results quickly, adjust language to fit your audience, increase respondent engagement, prune out low value topics, and hone in on high value topics.
- Unlock new research in cases where you would not or cannot perform human studies. In cases where human research is not feasible, this allows you to conduct high volume research, test proprietary concepts discreetly, gut check hypotheses quickly, get input on potential M & A transactions, and run scenario testing.
Beta Program Details
Starting July, a limited number of participants will have the opportunity to experience the Audience Simulator first-hand. This beta program is designed to gather invaluable feedback from real users, ensuring the product meets the highest standards of quality and usability.
Beta Program Benefits
Benefits of participating in our Beta include:
- Gain early access: Be among the first to explore the capabilities of our cutting-edge technology.
- Receive Exclusive Support: Get dedicated support and training from our expert team.
- Shape the Product: Participants' feedback will directly influence enhancements and new features.
- Reduced Pricing: Benefit from discounted pricing once we launch commercially.
How to Join
Interested individuals can apply for the Beta here. Spaces are limited, so early registration is encouraged. Successful applicants will receive an invitation with further instructions on how to get started.
Full Release
The full release of the Avenue Group Audience Simulator is slated for Q3 2024. The comprehensive feedback from our Beta testers will guide the final enhancements and ensure the product is ready to deliver outstanding value to all our users.
The Team
Core leadership:
- Jeremy Greenberg, Founder: Jeremy advises executives, private equity firms, and operators across a wide spectrum of industries. He serves as a board member for two private companies and as a member of the board of trustees for a non-profit organization. Jeremy brings experience from his roles in P&L management and company operations, management consulting, and coaching business leaders, entrepreneurs, and those in crisis. His professional experience includes overseeing analytics and research teams at DraftKings, leading projects for teams at The Boston Consulting Group, and building new business units at Capital One. He earned a BA in Economics and Philosophy from Brandeis University and an MBA from The Wharton School of the University of Pennsylvania.
- Jason Shore, Head of Product: Jason oversees product strategy and leads the development of scalable SaaS/B2B solutions. His career includes product leadership roles at Guild, Mastercard, and Applied Predictive Technologies. Jason believes in a vision-led approach to leading product and technology organizations, supported by high user and customer empathy. Before stepping into product, Jason's early career was a blend of data science, customer relationships, consulting, and sales. He earned a BS in Physics and Economics from the University of Virginia.
Select advisors:
- Lennart Meincke, LLM Advisor: AI Researcher at Wharton
- Dan Malone, Go-to-Market Advisor: Former exec at Vistaprint, DraftKings
- Jason Feifer, Media Advisor: Editor in Chief, Entrepreneur
- Ben Greenberg, Content Advisor: Emmy-winning producer
- Cherie Magennis, Platform Advisor: Former SurveyMonkey product
- David Erdreich, Scale Advisor: Analytics & Engineering expert at BCG
- Matt McKenna, Business Development Advisor: Primary research expert
- Liz Cole, Brand Stakeholder Advisor: VP of Marketing at Vail Resorts
- Karla Rosas, Research Firm Stakeholder Advisor: Partner, HawkPartners
About Avenue Group
Avenue Group helps business leaders of all levels with the rewarding process of building. The New York City-based company is led by Jeremy Greenberg, an entrepreneur with 25 years of research experience. Avenue Group incorporates deep primary research -- through surveys, expert interviews, and focus groups -- into strategic recommendations for clients, from the largest private equity firms in the world to emerging companies.
©2024 Avenue Group, Inc. Avenue Group wordmark and logo are trademarks owned by Avenue Group, Inc.
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Press Contacts
Dan Malone
Advisor & Head of GTM, Avenue Group
info@avegroup.com
1-646-308-1588
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SOURCE: Avenue Group
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