Lecture IV: Data Collection
Quantitative Market Research
Received responses can be analysed to make well-thought decisions for improving products & services
The age of information has transformation both selling as well as purchasing habits & norms
Companies rise and fall on the basis of how well they are able to collect & analyse data, and make informed decisions based on the gathered insights
Denote the relationship is directly or inversely proportional (demand qu’elle clarafie le difference avec positif et negatif.?)
When data is continuous, it is okay to have decimals
Procedure of Quantitative Design
Observation: Make an observation of something that is unknown to you
Investigative Theory: Investigative the theory that is related to your issue or the field that requires validation
Hypothesise: Create an in-depth hypothesis to validate your research & findings & end objective
Plan: Plan for how to prove or disprove this hypothesis and create a structure to achieve this objective
Collect & Analyse: Collect & analyse your data. If your data validates your hypothesis, prepare for final validation & present findings. If the data disproves your hypothesis, you can either start afresh with a new hypothesis or drop your current research
5 Steps for Creating a Successful Quantitative Market Research Survey
Specify the goal
Hae a plan sketched out
Collect data
Analysis of collected data
Compile reports
Intro to Data Collection
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Data Collection Sampling
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Probability Sampling
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