Large Language Models for Market Research: A Data-augmentation Approach

ArXi:2412.19363v3 Announce Type: replace Large Language Models (LLMs) have transformed artificial intelligence by excelling in complex natural language processing tasks. Their ability to generate human-like text has opened new possibilities for market research, particularly in conjoint analysis, where understanding consumer preferences is essential but often resource-intensive. Traditional survey-based methods face limitations in scalability and cost, making LLM-generated data a promising alternative.