What is a Panel (Omnibus) Survey?
A panel (or “omnibus”) survey is a survey that collects opinions from a group of people on multiple topics in a single survey. This type of survey is often used to quickly gather data on a variety of topics in a cost-effective and efficient manner. Panel surveys are generally conducted online, although traditional mail-in surveys can also be used. Panel surveys are often used in market research to gain insight into consumer behavior, preferences, and opinions. By using a panel survey, companies can get data from a large sample size quickly and with less effort than would be required to conduct individual surveys.
Advantages of Panel Surveys
Panel surveys offer a number of advantages, including:
- Cost-effective – Panel surveys can be conducted at a lower cost than individual surveys, making them an attractive option for companies on a budget.
- Time-saving – Panel surveys take less time to complete than individual surveys, saving companies time and money.
- Flexible – Companies can customize panel surveys to focus on specific topics and demographics, allowing them to get the data they need quickly and easily.
- Accurate – Panel surveys are conducted using a large sample size, which allows companies to get accurate data that is representative of the population.
Disadvantages of Panel Surveys
While panel surveys offer many advantages, there are also some drawbacks that should be considered, including:
- Lower response rates – Response rates for panel surveys tend to be lower than those of individual surveys, as respondents are often less motivated to complete them.
- Less personalized – Panel surveys are less personalized than individual surveys, which can lead to lower response rates.
- Limited control – Companies have limited control over the panel survey process, as they are relying on the panel provider to conduct the survey.
Overall, panel surveys can be an effective way for companies to quickly and cost-effectively gather data on a variety of topics. While there are some drawbacks, the advantages of panel surveys often outweigh the disadvantages, making them an attractive option for companies looking to gather data quickly and cheaply.
References
- https://www.marketresearch.com/glossary/panel-surveys-154/
- https://www.qualtrics.com/blog/panel-survey/
- https://www.surveymonkey.com/curiosity/advantages-and-disadvantages-of-panel-surveys/