MG413 Data Insights: Exploring Quantitative and Qualitative Roles

This presentation delves into the critical role of data insights in contemporary marketing. It examines quantitative research, emphasizing questionnaire design with practical examples, and explores qualitative research, focusing on discussion guide design and application. The presentation also elucidates correlation and regression, alongside time series analysis, providing practical illustrations. Furthermore, it critiques challenges in data analysis techniques, particularly concerning big data and its impact on modern business decision-making. The presentation concludes by addressing methods for effective data collection and utilization, highlighting the importance of aligning data analysis with organizational objectives and maintaining ethical standards.

Data insights

Table of content
 Introduction
 Quantitative research
 Role of qualitative research
 Correlation and regression
 Time series
 Critique of issues
 Ways in which data can be improved
 Conclusion
 References

INTRODUCTION
 Data insights refers to deep understanding of data regarding particular organization's processing.
 In the current era, data insights play significant role in helping organization and an individual to gain competitive
advantages.
 Proper data analysis is highly important for the companies to make accurate evaluation of prevailing situations in turn
better functioning can be obtained by implementing suitable improvement action.
 Current report will give emphasis on identifying role of quantitative research in modern marketing with focus on
questionnaire design along with practical examples.
 Present case study will pay attention on qualitative research in current marketing research with specific emphasis
on providing use & guide design.
 Correlation and regression along with practical exposure will be involved current study.
 Issues of data analysis technique in respect to big data and modern business decision-making will be emphasized.
 In order to make informed decision the method of data collection & utilization will be involved in present report.

ROLE OF QUANTITATIVE RESEARCH (QR)
 QR is concerned with collecting and evaluating numerical data in order to accomplish
particular objective of organization.
 Having proper quantitative research allows organization to have proper ability to compare
current data with previous so that accurate decision can be taken by enterprise.
 Quantitative market research is method that can be utilized by organization for asking questions
from target audience via survey m questionnaire and polls.
 These gathered information is highly useful in recognizing prevailing circumstances which are
not according to standard bench marking for analyzing buyers satisfaction level.

CONTINUED
 There are variety of methods which are widely utilized by several different scale organization in
respect to estimate customer attitude, behavior and satisfaction regarding the delivering quality
of company (Hetenyi, Lengyel and Szilasi, 2019).
 Proper marketing research allows the company to obtain data regarding required level of efforts
& actions to attract customers for maintaining stable position in industry.
 The specified research type play important role of identifying lacking and irrelevant aspects of
marketing strategy so that essential step with ensuring effectiveness can be derived.
 There are several methods which can be highlighted for connecting with targeted audience which
comprises Omnibusing, email. Telephonic, face to face survey, etc.

EXAMPLE
For instance- An organization can use the following type of questions to gain accurate and fair knowledge regarding its
marketing research. It involves:
How long have been a customer ?
 Month
 Year
 More than 5 years
What do you like about the offered products?
 Price
 Quality
 Brand name
 Quantity

CONTINUED
 The questionnaire design is conducted by concentrating on several different factors which
helps in accomplishing objective of organizations.
 The specified questionnaire has involved data regarding targeted audience of firm for which it
executes marketing research.
 These questions will allow firm to gathered data and utilized tools like excel and SPSS for
having visual presentation so that significant decision can be taken.
 This particular method has given information to company so that pro per marketing can be
executed to achieve higher outcomes.

THE ROLE OF QUALITATIVE
RESEARCH IN MODERN MARKETING
 Qualitative research is associated with providing detailed insights about particular concepts and views.
 It is a type of research study which is based on getting experience, views and opinion about particular topic
from the targeted audience.
 In marketing qualitative research is applied to test new ideas or products so that realistic view of clients can
obtained.
 It concentrate on discovering different attitudes perceptions to have an idea about customer opinion.
 For instance- in qualitative research type attention is paid on gauging the behavioral reaction, voice intonation
fro viewing an advertisement , body language, etc can be evaluated to have proper insights about the customer.

CONTINUED
 The main initial step is concerned with planning & determining research objectives so that desired
outcome for planning can be set.
 Deciding method to conduct the research for getting clarity that target audience will be choose by
demographics, geographic location, etc so that suitable approach can be selected.
 In order to make accurate and fair analysis it becomes essential for the enterprise to have right
personnel for this so that all major tactics can be covered to maintained ethical and reliable study.
 Next step after this is related with selecting appropriate sampling which involves purposive, quota and
snowball according to objective of firm.
 Reporting is exerted to provide detailed an d crucial data to stakeholders for reflecting obtained
outcomes in market research.

CONTINUED
 Qualitative guide in research is related with online and collection based resource to aid in conducting, using, synthesizing,
and teaching study (Christou and Chatzigeorgiou, 2020).
Can company find marketing partners to expand market reach?
 Yes
 No
Are the prevailing consumer trend in market changing?
 Strongly agree
 Agree
 Neutral
 Disagree
 Strong disagree

Correlation and regression and how it is use
 It is being defined as the method through which
the relation between the two variables can be
outlined.
 This is very essential for the reason that it assist in
identifying relation between two or more
variables.
 Correlation assist in measuring the strength of a
linear relationship which is being present among
two or more variable.

EXAMPLE