MG413 Data Insights Report: Quantitative and Qualitative Analysis

This report provides an in-depth analysis of data insights within a marketing context, addressing the roles of both quantitative and qualitative research methodologies. It explores the application of quantitative techniques, emphasizing questionnaire design and its best practices, while also examining qualitative research, with a focus on discussion guide design and usage. The report further delves into the concepts of correlation and regression, explaining their applications and providing relevant examples. Additionally, it discusses time series analysis and its significance in business decision-making. The report also addresses critical issues surrounding these techniques, and how data is collected and used. The report concludes with a summary of the key findings and provides references for further study, offering valuable insights into the practical application of data analysis in modern marketing.

Data insights

Table of Content
INTRODUCTION
Role of quantitative research in modern marketing research
Role of qualitative market research
Set out correlation and regression
Time series
Time series
Critical issue surrounding the techniques
How data could collect and use
CONCLUSION
REFERENCES

INTRODUCTION
Data analysis is a technique that is about to assess and analysis the information collected so that
overall objectives behind the study entertained could have been meet.
This report will analysis the requirements of data analysis is in order to achieve the overall
objectives of the research study conducted.
This project will discuss about the role of qualitative research study in modern marketing practices.
The significance of the quantitative study will also understand in this project.
Furthermore, the emphasis of this project is over the role of correlation and regression analysis in
order to conduct the study.
Time series will be discussed and also the role of time series in business will also discuss further
under this project.

Role of quantitative research in modern marketing research
Research is off two different types such as quantitative and
qualitative type of study.
Quantitative study is tje one that involve use of statistical
information, figures and facts in quantitative term to understand the
information.
This involves the information in digits so that proper conclusive
framework could have been developed under the study.
Any marketing research conducted with support of quantitative
technique allows the professional to generate more conclusive
outcome based on the facts and figures.
This makes the study more competitive and the outcomes more
legitimate which can further be used by the professionals to achieve
the best level of effectiveness under the research study.
Role of qualitative study is very significant in competition of the
research studios for the marketing.

Role of qualitative market research
Qualitative is another type of research study that is conducted to achieve
the overall objectives of the research.
Marketing require qualitative study to be incorporated to achieve the
overall objectives behind the research study conducted.
Qualitative type of research comprises with the theoretical models,
theories, knowledge that can favour the best level of outcomes of the
study.
Role of qualitative study is very significant in understanding trend,
fashion, requirements of the customers, market assessment and analysis
and many such aspects to achieve the overall objectives behind the study
conducted.
This study type further involves study about the customer choice and
preferences to meet the final objectives set behind the study entertained.

Set out correlation and regression
Correlation is defined as a process to establish the relationship between the two variable factors associated
with the study.
This is the concept that involves identifying different concepts and factors denoted certain variable aspect
about the study.
Correlation the name itself denoted and indicates that setting up relationship between the two variables.
Marketing is directly related to the sales of the company as the final aim of the marketing is to fulfil the
different targets related to the sales of company and the correlation is all about establishing the relationship
between the marketing and sales.
This tool further support the organisation to identify the relationship of marketing with other factors that are
directly connected with the marketing so the organisation could use them in making the best level of
marketing campaign.

Time series
Time series is a set of activity and operations that are measured in
chronological order.
This is the set of activities that are coordinated in such manner that
management get to witness the actual facts and aspects on a regular basis.
The basis aim of the time series is to set the activities in such manner that
management and entity get to understand what the situations at a given
point of time are.
Intervals of measurement in the time series could have been regular or
irregular.
The series exist on a monthly basis, daily basis, yearly basis or even a
second basis.
All activities occurred at a given point in time is set under this practice of
time series.
Company formulate all its strategies and policies on the basis of the
outcomes derived under the time series.

Critical issue surrounding the techniques
Correlation many times depict the fact about the inter relationship between the two variable
that is not right or practical.
Coo relation only specify the respective relationship between two variable which in many
cases kind of implied for the management to understand and identify the inter connectivity
of the variable.
This can be specify that regression on the other hand depict the dependency of the two
variable for each other that do not justify any suitable way to formulate the best level of
marketing campaign in favour of the organisation.
Time series is totally depicted the facts and information about the apst records.
Changing nature of business environment totally destroy the significance of the time series.

How data could collect and use
Data are collected with support of researches like primary and
secondary.
Primary method of data collection is about to put the individual
efforts to collect the information.
Under the primary study data that is used is fresh and untouched
as it was only collected to deliver the study.
Techniques like questionnaire are the best way to collect the
primary data.
Secondary method of data collection is used involve literature
review; inter sources, books, journals, previous researches and
such other sources to be used.
All these sources allow the professional to collect the suitable
information for delivering the quality research study.
Data analysis involves understanding the information.

CONCLUSION
Research is all about collecting the information and based
on that make the best suitable research.
This involves techniques like correlation, regression,
reliability test, time series and all other approaches.
Data can be collected with support of techniques like
primary and secondary.

REFERENCES
Barr, P. J. and et.al., 2017. Evaluating CollaboRATE in a clinical setting: analysis of mode effects on scores,
response rates and costs of data collection. BMJ open. 7(3).
Chittora, A. and Patil, H. A., 2017. Data collection of infant cries for research and analysis. Journal of
Voice. 31(2). pp.252-e15.
Liu, R. and Stamper, J. C., 2017. Multimodal Data Collection and Analysis of Collaborative Learning
through an Intelligent Tutoring System. In MMLA-CrossLAK@ LAK (pp. 47-52).
Song, J., Kim, K. and Lee, M., 2018. Implementation of an IoT sensor data collection and analysis
library. International Journal of Computer and Systems Engineering. 11(12). pp.1324-1328.
Wutich, A. and Brewis, A., 2019. Data collection in cross-cultural ethnographic research. Field
Methods. 31(2). pp.181-189.
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