A recent study named “Quantum computing for market research”, written by our adjunct professor and PhD in Business alumni Laura Sáez-Ortuño, our researchers Rubén Huertas-García and Santiago Forgas-Coll from the Department of Business at the University of Barcelona, Javier Sánchez-García (Universitat Jaume I) and Eloi Puertas-Prats (UB, Department of Mathematics and Computer Science), examines the transformative potential of quantum computing (QC) in market research, a field increasingly challenged by the complexities of the digital ecosystem. Unlike classical computers, QC uses qubits, which can represent multiple states simultaneously, enabling unparalleled computational power. For example, Google’s Sycamore processor completed a computation in 200 seconds that would take a traditional computer 10,000 years.
The research highlights several key applications of QC in market research:
- Consumer behaviour analysis: Quantum algorithms allow companies to model intricate consumer preferences and interactions, offering more accurate personalisation.
- Real-time market simulations: QC facilitates advanced simulations to predict market responses, helping companies adapt to rapid change.
- Enhanced market segmentation: Quantum machine learning can process vast data sets to identify nuanced customer segments, driving targeted marketing strategies.
- Data security: As consumer data becomes increasingly sensitive, quantum-resistant cryptography ensures robust protection against potential threats.
The study also underscores QC’s ability to revolutionize statistical analyses, allowing marketers to handle the unstructured data generated by digital platforms more effectively. By providing tools to bridge the gap between the complexity of digital markets and decision-making, QC promises to redefine market research practices, driving innovation and offering a competitive edge.
While QC technology is still emerging, its applications in optimization, simulation, and machine learning position it as a game-changer for industries aiming to thrive in an increasingly data-driven world.
Discover more about the UB Business School’s research! Explore the full list of our researchers and their latest research here.