Research Data in a nutshell
Market research data is data on markets or customers that primarily helps to identify target markets and the factors that determine the demand of products and services. Without it, the preferences and tendencies of a particular market segment or population would be obscure at best. By collecting and analyzing client demographics, as well as data on their needs, habits, and interests, a company can assess customer satisfaction, identify market gaps, or forecast sales trends. It is also a great tool for sizing up the competition and maintaining a competitive advantage. Research methods include focus groups, in-depth interviews, customer surveys, and the analysis of secondary data sourced from company records, websites, and (printed) communication, and also from government publications, newspapers, magazines, and journals.
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