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June 4, 2018. Today on RBDR:
The UK’s research business has absorbed small annual research revenue hits in recent times, in aggregate making a real dent in that nation’s research industry. The primary reason seems to be corporate client uncertainty about the value and reliability of research to their businesses based on polling failures.
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Political election polling does not help our overall industry credibility and reliability since many elections are called within the margin of error of plus or minus three percentage points. Political pollsters must resist media pressure to call close elections and say clearly “the election is too close to call”. Unfortunately, pollsters can’t seem to resist calling such elections since they believe they will be right and it will lead to prestige and more business. In recent years, I have not seen even pollsters who did call elections correctly get more or a lot of new business out of it. In my view, Political elections are very risky and when called wrong they hurt the credibility of the MR industry as a whole: Something to think seriously about!