Advantages of Using Qualitative Data Analytics in Market Research
Can any type of research want its weight be compiled without gathering data? The answer of course is a resounding “NO”. Qualitative or quantitative data are the driving forces in conducting an accurate research and in the case of drafting a market research, data entry and processing plays a huge role. Before we go into the benefits and advantages of using qualitative or quantitative data entry processes in market research, let us furnish ourselves with the differences between these two types of data. Qualitative Data Vs Quantitative Data Quantitative data in lay man terms are static data which can be numbers, information etc that are rigid or report a situation as it is without providing any room for errors while quantitative data are data types that are continuous or flexible in the way they report situations. Quantitative data takes into account the why and how of a market trend in its report thereby giving the analyst a balanced view of all statistics affecting his/her market research while qualitative data entry reports the facts as it sees it. But what are the advantages of qualitative data entry in market research? Benefits of Using Qualitative Data Entry In Conducting a Market Research In-depth Analysis: Qualitative data collected with the use of questionnaires provide the researcher with definite answers on what made the customer engage a services. An example is asking a customer what made him/she purchase an item and the customer quickly clicks on cheap coupons and on analysing more questionnaires through data entry processes you discover that 80 percent of your customers purchased a product due to the availability of coupons, this qualitative data shows you that creating more coupons must be incorporated into your market research or marketing strategy. Understanding your customers language: The wish of all marketers is to know what a customer thinks about and what drives them to make a purchase. The use of qualitative research gives you an insight into why a customer purchased a product but shunned a similar one. This is achieved by encouraging external reviews and using data gotten from them in your market analysis. Understanding customer language and drive also helps a researcher create better questionnaires for future use. Processing Information directly from its source: Qualitative data are information, personal details or answers gotten directly from a source which could be human or virtual when conducting a market research. This direct communication with the source of the needed information gives research data the objectivity they require as well as provide the researcher with an understanding of the thought process of the subject. Speed of Analysis: Qualitative data entry processes can be sped up by the researcher or by outsourcing data entry tasks to professional service providers. The ease and speed at which qualitative data can be entered speeds up the market research process. Qualitative data is an adept technique that should be used in gathering relevant information pertaining to competitor analysis, marketing campaigns and more importantly how the consumer thinks when conducting a Market research. The data entry process could be quite difficult if the data available is bulky therefore outsourcing data entry tasks and processes should be considered.
Can any type of research want its weight be compiled without gathering data? The answer of course is a resounding “NO”. Qualitative or quantitative data are the driving forces in conducting an accurate research and in the case of drafting a market research, data entry and processing plays a huge role. Before we go into […]
Can any type of research want its weight be compiled without gathering data? The answer of course is a resounding "NO". Qualitative or quantitative data
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