Marketing Data Analysis: Techniques and Business Decision Making

This report examines the critical role of data analysis in modern marketing, emphasizing its significance in making informed business decisions. It explores both quantitative and qualitative research methods, detailing how consumer reviews, questionnaires, focus groups, and in-depth interviews contribute to understanding consumer behavior. The report covers correlation and regression analysis, explaining their application in evaluating data relationships. It also addresses time series analysis for trend prediction and the utilization of big data in business decision-making processes. Furthermore, the report highlights effective data collection strategies and their impact on improving business outcomes, concluding with recommendations for data-driven decision-making processes. References to relevant academic sources are included to support the findings and recommendations made throughout the report.

Data Insight

Table of Content
 Introduction
 Role of quantitative research in modern marketing research.
 Correlation & regression with some example.
 What time series is & how it is used
 Big Data & its use in modern business decision making
 How data could be collected & used more effectively to make more informed business
decisions.
 Conclusion
 References

Introduction
In the present presentation, organizations like
Primark UK emphasized the significance of data
analysis & review that assists making valuable
growth & development decisions in a changing
business environment. There are various data
collection methods to support collecting the most
appropriate information & identifying areas that
require to be fully addressed for future enhancement.

Role of quantitative research in modern marketing
research.
Consumer reviews & questionnaires are general aspects of
quantitative market evaluation. These would be considered in person
with checklists & pencils, by mobile phone, letter as well as text
message, online or on the website. In order for the survey results to
contain useful data, Primark UK must carefully consider the survey
questions. Don't just ask customers if they know about Primark UK;
ask how often they shop, what products they buy, but where will they
buy the same products & why.

Role of qualitative research in modern marketing
research
Qualitative market analysis is a image of open (conversational)
analysis that relies heavily on focus groups, in-depth interviews,
& other novel research methods. It is based on a limited but well
validated random sample, usually among 6 & 10 people. The
limited size can save money, & the "highlights" of the sample &
the no9n presence of a particular questionnaire help provide a
more in-depth discussion & explanation of the topic.

Correlation & regression with some example
 Correlation analysis methods are used to
evaluate the stationary of data, like a dependent
variable & an independent variable or 2
variables.
 The term "regression analysis" refers to the
process of developing relationships based on
single or even multiple factors & outcome
variables.

What time series is & how it is used
Any set of observational data gathered over a constant
period of time is called a time series. To analyze changes in
trends in these listed data, trend analysis has been utilized.
Time series analysis is adopted to predict the meaning of the
future dependent on past data. It is utilized to detect
economic & industrial fluctuations & evaluate recent
achievements. Pattern detection, remote sensing, data
processing, & disaster prediction are implications of this
technology.

Big Data & its use in modern business decision making
The processor step of big data collection starts long before
big data measurement. Big data methods have multiple
fully optimized stages, so they are achieved through the use
of multiple methods. For this reason, several big data
systems have been generated that can quickly process &
build a huge amount of real statistical data. Improving the
success metrics utilized to attain company’s goals will be
the next stage that Primark UK considers & recommends.

How data could be collected & used more effectively to
make more informed business decisions.
Essentially, data analysis now attempts to identify trends or connections
between different data points. Observations & hypotheses could be drawn
from these trends & correlations. A conscious commitment to being highly
strategic in personal & professional life is actually the 1st phase of becoming
more data-oriented. Although this may seem like a simple task, it takes
practice.

Conclusion
At the end of the introduction, be sure to use quantitative analysis method to
assess subgroups of consumers. Although this may seem like a simple task, it
takes practice. Whenever a manager of a business is faced with a decision, be
it business or personal, he must stop based on intuition or past actions. Make
a thoughtful decision & shift to an objective technique.

REFERENES
 Chomicki, G., Schaefer, H. and Renner, S.S., 2020. Origin and
domestication of Cucurbitaceae crops: Insights from phylogenies,
genomics and archaeology. New Phytologist, 226(5), pp.1240-1255.
 Doshi, J., Basu, S. and Pang, G., 2018. From satellite imagery to disaster
insights. arXiv preprint arXiv:1812.07033.
 Hoekman, P. and von Blottnitz, H., 2017. Cape Town’s metabolism:
Insights from a material flow analysis. Journal of Industrial Ecology,
21(5), pp.1237-1249.