Market Research Sampling and Data Collection

Names:-

Market Research

The process of gathering data on goods and services to determine whether the product or service will satisfy customers' needs. Market research can identify market trends, demographics, economic shifts, customer's buying habits, and important information on competition.

In short, market research helps you to: Communicate effectively Identify and understand opportunities Pinpoint obstacles or problems Benchmark and evaluate success

The Market Research Process: 6 Steps

Sampling and Data collection

Sampling:- It is an activity that involves the selection of individual people, data or things, from a target population/universe.

Sampling Designing Process

Define the target population

Determine the sample frame

Select a sampling technique(s)

Determine the sample size

Execute the sampling process

Types of Samples

Sampling

Probability

Non Probability

Data Collection

Data Collection is an important aspect of any type of research study. Inaccurate data collection can impact the results of a study and ultimately lead to invalid results. Data collection methods for impact evaluation vary along a continuum. At the one end of this continuum are quantitative methods and at the other end of the continuum are Qualitative methods for data collection .

The Basic Methods of data collecting

Data Analysis

Analysis of data is a process of inspecting, cleaning, transforming, and modeling data with the goal of highlighting useful information, suggesting conclusions, and supporting decision making. Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names, in different business, science, and social science domains.

Type of Data
Data can be of several types Quantitative data is a number Often this is a continuous decimal number to a specified number of significant digits Sometimes it is a whole counting number Categorical data one of several categories Qualitative data is a pass/fail or the presence or lack of a characteristic

Data Analysis
Analyses aimed at answering the research question are
Exploratory and confirmatory approaches
analysis phase either an exploratory or confirmatory approach can be adopted. Usually the approach is decided before data is collected. In an exploratory analysis no clear hypothesis is stated before analyzing the data, and the data is searched for models that describe the data well. In a confirmatory analysis clear hypotheses about the data are tested.

performed as well as any other relevant analysis needed to write the first draft of the research report.

Stability of results
It is important to obtain some indication about how generalizable the results are, While this is hard to check, one can look at the stability of the results. Are the results reliable and reproducible? There are two main ways of doing this:

Cross-validation: By splitting the data in multiple parts we can check if analyzes (like a fitted model) based on one part of the data generalize to another part of the data as well. Sensitivity analysis: A procedure to study the behavior of a system or model when global parameters are (systematically) varied. One way to do this is with bootstrapping.

Many statistical methods have been used for statistical analyses. A very brief list of four of the more popular methods is: General linear model: A widely used model on which various methods are based (e.g. test, ANOVA, ANCOVA, MANOVA). Usable for assessing the effect of several predictors on one or more continuous dependent variables. Generalized linear model: An extension of the general linear model for discrete dependent variables. Structural equation modeling: Usable for assessing latent structures from measured manifest variables. Item response theory: Models for (mostly) assessing one latent variable from several binary measured variables (e.g. an exam).

Statistical methods

Free Software For Data Analysis

SPSS - SPSS Statistics (originally, Statistical Package for the Social Sciences, later modified to read Statistical Product and Service Solutions). SAS - Statistical Analysis System is an integrated system of software products. ROOT - C++ data analysis framework developed at CERN SCaVis- Java (multi-platform) data analysis framework developed at ANL KNIME - the Konstanz Information Miner, a user friendly and comprehensive data analytics framework. Data Applied - an online data mining and data visualization solution. R - a programming language and software environment for statistical computing and graphics.

SPSS
SPSS Statistics (originally, Statistical Package for the Social Sciences, later modified to read Statistical Product and Service Solutions). It is used by market researchers, health researchers, survey companies, government, education researchers, marketing organizations and others. The many features of SPSS Statistics are accessible via pull-down menus or can be programmed with a proprietary 4GL command syntax language. Command syntax programming has the benefits of reproducibility, simplifying repetitive tasks, and handling complex data manipulations and analyses.

Reference

http://www.docstoc.com/docs/37835327/Educational-ResearchData-analysis-and-interpretation Educational Research Data analysis and interpretation http://www.smartpsych.co.uk/wpcontent/uploads/2012/02/psych_methods1.pdf Rm 5 Methods Of Data Collection The Five Basic Methods of data collecting Data analysis - Wikipedia, the free encyclopedia

http://dstraub.cis.gsu.edu/quant/5dataanal.asp https://www.google.co.in/search?q=data+analysis+in+re search&psj=1&bav=on.2,or.r_qf.&bvm=bv.46340616,d.b mk&biw=1327&bih=636&um=1&ie=UTF8&hl=en&tbm=isch&source=og&sa=N&tab=wi