Importance of Quantitative and Qualitative Research in Modern Marketing Research and Data Analysis

This presentation discusses the importance of surveys and investigations of trends in the market place. It covers the techniques of data collection from the market and techniques includes qualitative and quantitative research. The presentation also explains the role of correlation and regression, time series, and how information can be gathered and utilized to create enlightened firm decision.

MG413 Data insights
CW2Presentation

Table of Content
Introduction
The role of Quantitative research in modern marketing research and
data analysis.
Role of Qualitative research in modern marketing research and data
analysis.
Correlation & Regression and its uses
Time series
How information can be gathered and utilize to create enlightened
firm decision.
Conclusion
Reference

INTRODUCTION
The main motive of such report is to understand the
importance of surveys and investigations of trends at
the market place. This report includes techniques of data
collection from the market and techniques includes
qualitative and quantitative research.

The role of Quantitative research in
modern marketing research and data
analysis
Definition of Quantitative research: Quantitative
research is a type of method or technique that is
used by researcher to investigate people’s
attitude and behaviours based on statistical and
numerical information. Investigators collect
large number of data by sampling peoples by
various type of surveys.

Questionnaire

The role of qualitative research in
modern marketing research and data
analysis
Research aims to proper management of quality
and elements of social science. It is opposite to
the quantitative research, that include
understanding of a research questioned as a
idealistic approach. Qualitative research provide
deeper understanding about the real life
questions or a particular project.

Questionnaire

Correlation & Regression and its
uses
 It is important tool of quantitative research that
is used to collect information in the statistical
and numerical form. This is helpful in analysing
the co-relationship between variables with the
help of liner regression.
 Importance:
 It is helpful in analysing future market economic
conditions.
 The nature of economic are also defined by the
correlation practice.

Time series
Time series provide statically data that is collected in the
given period of time for arranging in proper manner. This
technique help in measuring the market fluctuation in the
market environment. This provide the changes in the patterns
in the market trend over a period of time.
Importance:
 time series is generally used in assumption making like
weather or rainfalls.

Critical problems in surroundings of
examining methods
This all the methods are very useful for creating
appropriate decision of the firm but the collection of
information take high time and it apply several
problems. The linear relationship of variables is
considered only because of these techniques. The
problem of not relevant information entry is also
created at a time of normal composition.

How information can be gathered
and utilize to create enlightened firm
decision.
The information can be gathered through
various kinds of sources but it mainly consists
three kinds of ways which are taken to be
consider directly, not directly or from additive
other informative source of the firm. From
gathering a relevant information investigator
implement several kinds of planning.

Conclusion
As it concluded from the above report, it describe the
quantitative and qualitative method which mainly helpful and
functioning are explain along with its questionnaires. These
both of the techniques assists in knowing that what are the
ways they are follow and kind of problems they are deal as a
investigator at the time of gathering. It also discuss about the
correlation, regression and time series encourage and
utilization are also describing in this case in respect of the
firm.

Reference
 Herruzo, P. and et.al., 2021, December. High-resolution
multi-channel weather forecasting–First insights on
transfer learning from the Weather4cast Competitions
2021. In 2021 IEEE International Conference on Big Data
(Big Data) (pp. 5750-5757). IEEE.
 Jiang, D., Huo, L. and Song, H., 2018. Rethinking
behaviors and activities of base stations in mobile cellular
networks based on big data analysis. IEEE Transactions on
Network Science and Engineering. 7(1), pp.80-90.