Archive for December 2012

blogging sundays


Quantitative data is data that describes whereas (how much) quantitative data defines.
Data that approximates or characterizes but does not measure the attributes, characteristics, properties, etc.
Experiments, investigations, or tests carried out to acquire data first-hand, rather than being gathered from published sources.
Secondary research is research based on secondary data. This is basically research on the web.

Primary research is very useful because it give an insight o what customers want, establish the best price and sales level, decide whether to brand or advertise something and maybe have some customer feedback, though the problem with that is, it will be expensive and people might give false feedback out of being nice or embarrassed to say otherwise.

Secondary research advantages are that it is very cheap or which may only cost the time it takes in which you may find something useful on the web, the research was already carried out by others so it is quicker to gain information. The information maybe rubbish though, or be old and not apply in the modern world.

Blogging Sundays 16/12/12

Quantitative data:
This is data that can be measured and identified using a numerical scale. Because is can be measure using a numerical scale, it can be analysed using statistics.

Qualitative data:
This is data that is normally judgments and opinions that are given in detail compared to quantitative data.

Primary research:
Primary research is basically research that you have gathered yourself. The main way of gathering primary research is by creating a questionnaire for an audience to answer.

Secondary research:
Secondary research is basically research that has been gathered by someone else and is for all the public to see, such as an article. There are several ways of collecting secondary research such as searching on the internet and by looking up research in books.

Advantages and disadvantages of primary research:
An advantage of primary research is that it is a way to to get specific information for want you want to know. This can be useful to those who are starting a new business or an invention, and have feedback on what a customer would think of it. A disadvantage would be that those who answered your questionnaire may not of answered honestly and truthfully

Advantages and disadvantages of secondary research:
An advantage of secondary research would that it is an quick easy way of getting the research, compared to primary research. A disadvantage would be that it may not be very reliable at all.

Blogging sundays - Moosa


Blogging Sundays:

What is quantitative data...
Quantitative data is data measured or identified on a numerical scale; therefore it can be analysed using statistics. From those statistics, graphs can be constructed, portraying the data. Quantitative continuous data is the result of measuring e.g. angles in triangles, how tall you are etc. An example of quantitative discrete data is how many cars per household. There is no intermediate value. 

What is Qualitative data...
 Where the data are explanations or opinions. Qualitative data consists of detailed answers with more quality.

Primary research is when you gather information yourself - ie surveys or clinical trials.

Secondary research is when you gather information from other sources - ie reports carried out by others.


Primary research is beneficial to business which want to create a new market and the data collected is tailored to their circumstances. A disadvantage would be that the data excludes a certain section of your target market and may be compromised due to inaccurate answers.

Secondary research is very effective if you wish to study an already existent. A disadvantage will be that the data may not be very reliable or may not concern you.

10 Brainteasers to Test Your Mental Sharpness

10 Brainteasers to Test Your Mental Sharpness



To test your mental acuity, answer the following questions (no peeking at the answers!):

1. Johnny’s mother had three children. The first child was named April. The second child was named May. What was the third child’s name?

2. A clerk at a butcher shop stands five feet ten inches tall and wears size 13 sneakers. What does he weigh?

3. Before Mt. Everest was discovered, what was the highest mountain in the world?

4. How much dirt is there in a hole that measures two feet by three feet by four feet?

5. What word in the English language is always spelled incorrectly?

6. Billie was born on December 28th, yet her birthday always falls in the summer. How is this possible?

7. In British Columbia you cannot take a picture of a man with a wooden leg. Why not?

8. If you were running a race and you passed the person in 2nd place, what place would you be in now?

9. Which is correct to say, “The yolk of the egg is white” or “The yolk of the egg are white?”

10. A farmer has five haystacks in one field and four haystacks in another. How many haystacks would he have if he combined them all in one field?

 

Blogging sundays Data and market research


Quantitative Data uses a survey to sample a large group of people(several hundred people). This tends to be numerical data, this allows statistical analysis of results.

Qualitative data is data collected from an in-depth way of research such as a focus group and depth interviews. it is used to find out how customers behave. but it is harder to analyse.

Primary research. When a firm/business carry out first hand research in  a public place or work place.such as a questionnaire about a certain product.It is better than secondary research as it is tailor-made to the firm/businesses requirements. 

Secondary research is research from a secondary source(second-hand) it could be a survey carried out by another firm launching a similar product or can be research from books/websites. it is cheaper than using primary research.

Overall advantages of primary research are that it is tailor-made to a firm/business but a disadvantage is that people may not answer it accurate.

Overall advantages of secondary research is that is cheaper than primary research and the disadvantages is it is less reliable.

 

 Types of primary research: Questionnaire Advantages: it can be tailored to a target audience and collect quantitative data.

Focus groups:Advantages gives an incite into the customers mind and give a mental report of the customers. Disadvantage  is that it gives us qualitative data which is harder to compare and analyse.

 

 

Blogging Sunday
Quantitative data is represented numerically. Data which is produced by closed questions like: Are you male or female? It can be used to produce predictions and spot patterns and understand different markets. This is advantageous when your target market is made up of large numbers.
Qualitative data on the other hand is produced by open ended questions like: What word first comes to your mind after looking at this picture? It is time consuming to analyse and producing patterns becomes impossible but it can help understand the market better when your target market is fairly small. This can be used by businesses which deal in niche markets like bespoke super cars and private business jet.
Primary research is derived from means like questionnaires. This can be advantageous to businesses which try to create new markets as data from previous businesses in the industry isn't available. It is also provides you with data which is more relevant to you as the questions are tailored to your unique circumstances. Unfortunately, it is costly and slow and excludes a large part of your target audience who don’t want to waste their time filling out their survey.
Secondary research can be acquired by simply researching on the internet previously carried out research. It is cheap and quick but the the data available may not necessarily be relevant to you and is useless when trying to create a new market. You are also not aware of how poorly or well the research was carried out and other little details.

Quantitative and Qualitative


Quantitative and qualitative  

Quantitative;
  • Quantitative are results which can be measured and deals with digits. Examples of quantitative data would be temperature, length, weight, area, volume, humidity, sound levels, costs, amount and ages.
  • Quantitative data can be used in the business world in many ways. One would be market research, calculating the amounts of people are interested in your product. 
Qualitative
  • Qualitative are results which are not measured but can be observed. They usually deal with descriptions. 
  • This can be used in the business world to see the how your product looks like or the personalities of your customers.

Primary

  • New research to answer a specific question, this can contain surveys, questionnaires or interviews.
  • Questionnaires are standard questions given to participants and they either tick or answer the questions. They can be done by mail, online and face to face
  • Focus groups enable a group of people to discuss ideas or topics together and provide a range of views and opinions.
Secondary
  • Makes use of information previously researched to be publicly available.
  • Secondary researches are made of reports and old surveys found on the internet. It can also be reports found in a library or scientific reports produced by medical councils, universities or governments.
Disadvantages of Primary research

  • •        Primary research costs more than secondary research.
  • •        Primary research takes time to analyze and retrieve all the data collected.


Disadvantages of Secondary research

  • •        Not usually relevant to the data needed.
  • •        Unreliable results, as the research might have been done a year ago.


Team Titanium week 2


Team Titanium: Hannan Badar, Calum Dobie, Danial Naveed, Moosa Aamir Mahmoud Abdeljaber and Mike M

In the second week of heavy working, we have primarily thought about our research methods and also side tracked to thinking more about what we as a team will provide for our business. We used our research from last week about primary and secondary research and used that to conclude how we are going to search our ideas. We concluded that our primary method of research would be the questionnaire, as it is the most used method and can get us the quickest results. As well as asking people face to face, we will use technology to aid us with our research and planned to post our questionnaire online. Our secondary method of research is also the most common method is searching online about what people think about our different ideas. We primarily focused our slide challenge idea. On Wednesday we carried out our method of primary and secondary research. While producing our questionnaire, used our large group to our advantage and carried out our secondary research. When the questionnaire was completed, we had our whole team go out and ask people during class time because primary research is more legitimate and can be a bit more reliable than secondary research. We once again used whole large group to our advantage and split up to ask more people in order to get more information in a small space of time.

Everyone worked well, but some individuals could of done better and was not participating and paying as much attention as other individuals in the group. Rating for group members. Ratings will be from 0-5, 0 being the worst, 5 being the best.

Calum 4.5 
Danial 4 
Moosa 3.5
Mahmoud 3.5
Mike 3

Next week we will finalise and evaluate our results from our primary research. We will think of sponsors for our event and we will think of a prize for our event  

primary and secondary research Mahmoud Abdeljaber


 Qualitative Data: that approximates or characterizes but does not measure the attributes, characteristics, properties, etc., of a thing or phenomenon. Qualitative data describes whereas quantitative data defines. The number of people who like/dislike a product or idea, usually taken on a graph or chart.

Data that can be quantified and verified, and is amenable to statistical manipulation. Quantitative data defines whereas qualitative data describes.
Data that cannot be measured, such as advice (on how to improve a product) or praise for how well it's done.

Experiments, investigations, or tests carried out to acquire data first-hand, 
Rather than being gathered from published sources.

Primary research:Experiments, investigations, or tests carried out to acquire data first-hand, rather than being gathered from published sources.


Secondary research: Primary data that was collected by someone else or for a purpose other than the current one.

Advantages and Disadvantages of quantitative and qualitative data.  

Advantages of qualitative data: Qualitative research is useful during the early stages of a study when the researcher may be unsure of exactly what will be studied or what to focus on. This type of research does not need a strict design plan before it begins. This gives the researcher freedom to let the study unfold more naturally. Another advantage to qualitative research is the researcher gains more detailed and rich data in the form of comprehensive written descriptions or visual evidence, such as photographs. This type of research looks at context and social meaning and how it affects individuals, which is advantageous particularly in the social sciences.

Disadvantages of qualitative data: The researcher of a study using qualitative research is heavily involved in the process, which gives the researcher a subjective view of the study and its participants. The researcher interprets the research according to his or her own biased view, which skews the data gathered. Another disadvantage is that this research method is very time consuming and can last for months or even years.

Advantages of quantitative data: Quantitative research allows the researcher to measure and analyze data. The relationship between an independent and dependent variable is studied in detail. This is advantageous because the researcher is more objective about the findings of the research. Quantitative research can be used to test hypotheses in experiments because of its ability to measure data using statistics.


Disadvantages of quantitative data:

The main disadvantage of quantitative research is the context of the study or experiment is ignored. Quantitative research does not study things in a natural setting or discuss the meaning things have for different people as qualitative research does. Another disadvantage is that a large sample of the population must be studied; the larger the sample of people researched, the more statistically accurate the results will be.


Disadvantages of Market Research

Primary research methods disadvantages:
Questionnaires: These can be time consuming, meaning that the company could lose money as they have no results with which to base their product/sales scheme. Questionnaires also often give biased results are very expensive to produce if they are high quality.
Focus groups: Can be time consuming and expensive, difficult to get a good interviewer who can avoid biasing the results with his own view. Also, the questions asked may be revealing and the interviewees may not wish to answer them truthfully.
Product testing: This can consume time and be expensive. People very often say what the tester wants them to say instead of an honest opinion, giving inaccurate results.

Secondary research method disadvantages:
Mintel reports: A new report costs £600 (but you can always look at a report that has been previously made). The research is not localized ad is based on an entire market, so it can be unhelpful if you are looking to start a small shop serving local customers. It also only has data on previous products and not new inventions or innovations.
Web research: The web is full of inaccurate data, and must be used carefully to get a correct data set.
Secondary research is also focusing on the past: ‘The trouble with research is that it tells you what people were thinking about yesterday, not tomorrow. It’s like driving a car using only the rearview mirror.’

GREG IM GOING TO KILL YOU AND FEED YOU TO MY CATS. THEY LOVE THE TASTE OF GREGORS. -.-

Analyzing Our Market Research

Definition of quantitative and qualitative data

 Quantitative data is best explained as data that has numerical significance. For example, if you want to assess how many panic attacks a clinic patient has per week, that would be quantitative data. How many apples do I have in my fruit basket, right now? Three. My neighbor has 5 apples in his fruit basket. The average amount of apples we have together is four. This is quantitative data... It can be counted or quantified.

Qualitative is subjective, meaning it is open to interpretation. If you did an interview asking for peoples perceptions, opinions, or experience on something, this would be qualitative. Dreams are a great example of subject qualitative data. It is hard to study dreams because someone can report what they experienced in their dreams but there is no real way to quantify and compare these results with others. Whereas everyone can agree that there are three apples in my fruit basket (provided that you came over to my house and saw my fruit basket), it is numerical fact that can not be disputed.

Definitions of primary and secondary research

Primary research (also called as field research) involves collecting data first hand. This can take many forms,the main ones being interviewed, questionnaires, panels and observation. 
Secondary research(also called desk research) involves collecting data which already exists. This includes using information from reports, publications, Internet research and company files.

Primary Research

Advantages- you get to go out and get the information yourself and it is up to date.

Disadvantages- it takes a long time and can be expensive.


Secondary Research

Advantages- it is easy to find and doesn't involve too much effort.

Disadvantages- could be outdated or doesn't pertain exactly to what you're doing.

Analyzing market reserach

ANALYZING OUR MARKET RESEARCH


Qualitative research gathers information that is not in numerical form. For example, diary accounts, open-ended questionnaires, unstructured interviews and unstructured observations. Qualitative data is typically descriptive data and as such is harder to analyze than quantitative data.

Quantitative research gathers data in numerical form which can be put into categories, or in rank order, or measured in units of measurement. This type of data can be used to construct graphs and tables of raw data.

Primary research is new research, carried out to answer specific issues or questions. It can involve questionnaires, surveys or interviews with individuals or small groups.

Secondary research makes use of information previously researched for other purposes and publicly available. This is also known as 'desk research'. Secondary research includes published research reports in a library, surveys or the Internet. It can also include scientific reports produced by medical councils, universities or government.

Primary research:
Advantages-

1)       Targeted Issues are addressed. The organization asking for the research has the complete control on the process and the research is streamlines as far as its objectives and scope is concerned. Researching company can be asked to concentrate their efforts to find data regarding specific market rather than concentration on mass market.

2) Data interpretation is better. The collected data can be examined and interpreted by the marketers depending on their needs rather than relying on the interpretation made by collectors of secondary data.

3) Recency of Data. Usually secondary data is not so recent and it may not be specific to the place or situation marketer is targeting.


4) Proprietary Issues. Collector of primary data is the owner of that information and he isn’t obliged to share it with others. This gives an edge over competitors replying on secondary data.

Disadvantages-

1)       High Cost. Collecting data using primary research is a costly proposition as marketer has to be involved throughout and has to design everything.

2) Time Consuming. Time required to do research accurately is very long as compared to secondary data, which can be collected in much lesser time duration.

4) More number of resources are required. Leaving aside cost and time, other resources like human resources and materials too are needed in larger quantity to do surveys and data collection.

Secondary research: Advantages-
1)     Ease of Access
There are many advantages to using secondary research. This includes the relative ease of access to many sources of secondary data.
2)    Low Cost to Acquire
The use of secondary data has allowed researchers access to valuable information for little or no cost to acquire.
3)    Clarification of Research Question
The use of secondary research may help the researcher to clarify the research question. Secondary research is often used prior to primary research to help clarify the research focus.

Disadvantages-

1)     Quality of Research: There are some disadvantages to using secondary research. The originators of the primary research are largely self-governed and controlled by the marketer.

2)    Incomplete Information
In many cases, researchers find information that appears valuable and promising.

3)     Not Timely
When using secondary research, one must exercise caution when using dated information from the past.

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