Before any decisions can be made from the data collected, it must be analyzed and summarized to be comprehended by the organization's management. This article summarizes the data preparation methodology used for analyzing marketing research data. To avoid bias, personal opinions should not be introduced into the decision-making process. Still, it is essential to interpret the analysis results in light of their impact on the organization. That is, does it make sense in light of the current situation? Blindly following the analysis can also result in making bad decisions.
Data Analysis is an important step in the Marketing Research process where data is organized, reviewed, verified, and interpreted.
Summarize the characteristics of data preparation and methodology of data analysis
The function that links the consumers, customers, and public to the marketer through information. This information is used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.
A technique for searching large-scale databases for patterns; used mainly to find previously unknown correlations between variables that may be commercially useful.
Any information that pertains to the history, current status or future projections of a business organization.
Source: Boundless, http://oer2go.org/mods/en-boundless/www.boundless.com/marketing/textbooks/boundless-marketing-textbook/consumer-marketing-4/the-market-research-process-34/analyzing-data-179-7307/index.html
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