Data Insights: Role of Quantitative and Qualitative Research, Correlation, Regression, Time Series, and Data Collection Techniques

This presentation discusses the importance of data insights in modern marketing research and data analysis. It covers the role of quantitative and qualitative research, correlation, regression, time series, and data collection techniques. It also highlights the benefits of qualitative research and the issues of analysis techniques. The presentation concludes by summarizing the importance of data insights in decision-making for any business.

Data Insights

CONTENTS
 INTRODUCTION
 The role of quantitative research in modern marketing research and data
analysis
 The role of qualitative research in modern marketing research and data analysis
 What are Correlation and Regression- and are they used?
 What is “Time Series” and how is it used?
 Issues of Analysis Techniques of Correlation, Regression and Time Series
 How are Data Collected and Used?
 Conclusion-Summary
 References List

Introduction
The term data insight can be defined as the deep
study and analysis on a particular topic that is done
by an organisation. The process of data analysis
helps the organization to study about the pros and
cons in an organisation. Moreover, through data
analysis the firm can evaluate on a specific subject
or topic. This moreover helps the firm in taking
precautions that cause loss to the business.

The role of quantitative research in modern
marketing research and data analysis
The quantitative data analysis can be understood as the numerical data analysis in
the business. The quantitative data would only deal with the numbers on any
matter in the firm. It also focuses on factual data of the subject matter. Moreover,
there are various methods that are used by the quantitative research. These
methods includes the questionnaire, offline or online survey, etc.

The role of quantitative research (cont.)
 Mean- The mean is the average of all the
data that is collected by the researcher in
the research.
 Mode- The mode is the maximum data
frequency that has arrived in the series.
 Median- The term median can be
explained as the mid term of the set of
the data.

The role of qualitative research in
modern marketing research and data
analysis
The qualitative research is the data can be gained through the methods of the research.
This can be understood as the data that does not include the numerical values in the data
series. Moreover, it also provides that how the individual experience the world. These
qualitative data is very important as this can also include the data that effects the
decision making power of the management of the company.

The role of qualitative research (cont.)
There are various benefits of the qualitative research that is organised in a business
are as follows-
 This helps in inventing new innovation as the new ideas can only be built by the
thoughts. Moreover, the ideas does not require any type of quantitative data to
think about it(Senthilnathan, 2019).

What are Correlation and Regression-
and are they used?
 The term correlation explains a relation between the two variables in the data.
There are basically two dependent variables or two independent variables on
which the data can be correlate by the management. It can also be possible to co
relate one dependent and other independent variable in correlation. It basically
measures the two persistent factors that can be used in case of correlation.

What are Correlation and Regression- and
are they used? (continued)
For example,
A B C
0 2 2
14 6 11
1 8 3
10 5 13
5 6 4
A B C
A 1 - -
B
0.19151
6 1 -
C
0.90926
8
0.10889
3 1

What is “Time Series” and how is it used?
The time series can be explained as the assessment of the data series through a time
period. These data is collected by the researcher over a period of time. Moreover,
under the time series analysis, the data is analysed by keeping in mind the time
period. The time period would help the data to analyse its impact on the present
scenario in the market. Moreover, it does not take data randomly or inconsistently.

What is “Time Series” and how is it used?
(contd.)
For instance, the sales revenue of the organization of 8 years is as follows
with the time period:
Year Quarter Period Sales
2013 1 1 $ 986.2
2014 2 2 $ 595.8
2015 3 3 $ 865.9
2016 4 4 $ 1296.89
2017 1 5 $ 989.54
2018 2 6 $ 1482.00
2019 3 7 $ 992.8
2020 4 8 $ 695.4

Issues of Analysis Techniques of
Correlation, Regression and Time Series
The above analysis of times series, correlation and regression can be understood
as the large data which is used in analysis. Moreover, the huge data can be used as
settling the choice of the essential data. Moreover, the Big Data mainly catches
the various information that is modern and executive which deals with the
difficulty in utilising the programs on strategies of data. These are the huge
information that is used to manage the firm.

How are Data Collected and Used?
 Effectual structure for collecting the data:
 Hand-operated Data Capture
 Machine-controlled Data Capture
 Visual Character Recognition
 Agile Character Recognition
 Ocular Mark Reading

Conclusion-Summary
The above presentation concludes that the data insight plays an important role in
every business. The data insight plays a vital role in taking decisions in any firm.
This report also concludes about the concept of correlation and the the time series.
Moreover, it also explains about the role of the big data in the subject matter of the
correlation and the time series. It also summarises the importance of the
qualitative and the quantitative data that can be used in analysing the data for the
company.

References List
 Hancock, J.T. and Khoshgoftaar, T.M., 2020. CatBoost for big data: an
interdisciplinary review. Journal of big data, 7(1), pp.1-45.
 Hariri, R.H., et.al ., 2019. Uncertainty in big data analytics: survey,
opportunities, and challenges. Journal of Big Data, 6(1), pp.1-16.
 Kühne, B. and Böhmann, T., 2020, January. Formative evaluation of data-
driven business models–the data insight generator. In Proceedings of the 53rd
Hawaii International Conference on System Sciences.
 Lobe, B., et.al ., 2020. Qualitative data collection in an era of social
distancing. International Journal of Qualitative Methods, 19,
p.1609406920937875.

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