Market Research

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Understanding Business:

Hello Business Care Officials we wish to meet you and understand your Operations!

At the very first instance, we give full focus on understanding the business model and operations and thereby getting insight about the objective of further growth/corrections / change. Moving step by step with the idea of the day-to-day operations and the way businesses are trying to meet targets and their plans of moving ahead.

This helps us in planning our strategy/methodology while trying to solve the corresponding business issue.

Data Collection:

After getting the idea of the subject under Market Research we need to start how suitable study can be designed and thus data can be collected accordingly.

Steps in Data Collection

  1. First we review secondary data already collected in the past and check how much this is of use.
  2. Desk research is the next step, thereby looking for some similar type of situation faced by some other companies in the same domain, some articles which may provide insight about the subject under consideration, and different solutions tried.
  3. After getting familiar with the situation, a plan for Primary Data Collection is initiated. Design of the questionnaire, Target Population, and related geographical location, Timeline, etc. are an important part of the process.
  4. Sample Survey methodology is planned as per the nature of the problem under study, that is whether we require Random Sample, Stratified Sample, Cluster Sample, etc. is decided.

So with detailed exploration, purposeful Data is collected.

Market Research:

Market research is a process beginning with understanding the business situation and objective of the study. Then gain more knowledge from secondary research and already done studies. Awareness about the way of doing business of competitors of our client is also quite useful. Then we design the structure of Primary Research in which planning about (i) Questionnaire ( ii) Target Population and type of Sampling to be done ( iii ) Quantitative or Qualitative research or both are required for a better solution.

Data is collected and we do a detailed analysis so as to get a deep insight into the responses so accurate storytelling can be done. This is done with the help of the right data analytics tools and suitable data analysis solutions. Presentation of the report to the management in an easily understandable way and keeping conclusions right is the final part of the assignment.

Interactive Dashboards:

A Dashboard is a visual display of all of your data while it can be used in all kinds of different ways, its primary intention is to provide information at a glance. A dashboard usually sits on its own page and receives information from a linked database.

So for any change in data values or input numbers dashboard represent the corresponding changes.

Presentation of reports or data collected is done in such a way that it is easily understandable to management whether having statistical knowledge or not.