Role of Quantitative and Qualitative Research in Marketing Analysis and Data Analytics

Data Insights

Contents
INTRODUCTION.................................................................................................................................3
Main Body.............................................................................................................................................3
Explanation on the role and importance of quantitative research in marketing analysis and data
analysis with the help of examples....................................................................................................3
Define qualitative research and its role in modern marketing research and data analytics. Also
describe the important of discussion guide and its use.......................................................................4
Describe correlation and regression analysis with two examples of each explaining how they are
useful to an organisation....................................................................................................................5
Define time series and explain how it is used in an organization.......................................................6
Importance of correlation and regression in the business organization .............................................6
Describe how the data can be collected and used more effectively to make more informed business
decisions............................................................................................................................................7
CONCLUSION.....................................................................................................................................8
References.............................................................................................................................................9

INTRODUCTION
The following report looks into the role of quantitative and qualitative research in
marketing research and data analysis is examined in the future study. It also examines the
function of correlation and regression in corporate organizations, with instances of both. It
also includes remarks about the benefits and drawbacks of using correlation and regression
analysis in corporate decision-making. Furthermore, it includes the data analysis process that
a company should use for optimal decision-making.
Main Body
Explanation on the role and importance of quantitative research in marketing analysis and
data analysis with the help of examples.
In marketing analysis,
• Enables firms to do large-scale research.
• Assists businesses in gathering information on big groups of clients or the whole
population.
• Assists businesses in making comparisons between different groups based on age, gender,
and other factors in order to learn about differences and similarities.
• Assists businesses in recognizing the scope of new market prospects.
• Assists the business in resolving complicated problems.
In data analysis:
• It aids the business price in obtaining useful facts from raw numbers via the application of
rational and critical thinking.
• Quantitative research entails determining the frequency of variables and distinguishing
between them (Scharf and Nestler., 2018).
• It aids in the discovery of patterns, averages, presumptions, and the evaluation of casual
connections, among other things.
Tools in quantitative research: