Data analysis and forecasting
Posted: Sun Dec 22, 2024 8:43 am
Taking into account the time horizon, we can distinguish two types of market research. The first is the analysis of market data on past and current phenomena. It consists of obtaining all available information through methods such as interviews, use of databases (for example, the Central Statistical Office), conducting surveys, etc. The second type of research is forecasting, which allows to find out trends and also to predict the future situation of the market studied.
Quantitative and qualitative research
Research is divided into code phone number philippines quantitative and qualitative . Quantitative surveys offer the possibility of making statistical inferences because they are numerical data. They also allow obtaining a large number of indicators that allow identifying the state or trends of the market. Qualitative research is carried out on smaller groups of respondents than quantitative research and is used to analyze a phenomenon in depth. They are based on interviews, focus groups or discussion groups. They are carried out above all to obtain information other than simple numerical data. They are used to obtain answers to the question "why?".
Primary and secondary research
As regards the type of data analysis, we also distinguish two types of research: primary and secondary. Primary research consists of the collection of data obtained directly for the specific study being carried out. Its great advantage is its timeliness and relevance (it refers to the specific market in question).
Secondary research uses data collected in the past from various types of studies, columns, essays, statements in industry forums, financial and statistical reports, and databases. They are usually less expensive because the databases do not have to be created from scratch and (in the case of popular markets) are much easier to obtain than primary data.
Quantitative and qualitative research
Research is divided into code phone number philippines quantitative and qualitative . Quantitative surveys offer the possibility of making statistical inferences because they are numerical data. They also allow obtaining a large number of indicators that allow identifying the state or trends of the market. Qualitative research is carried out on smaller groups of respondents than quantitative research and is used to analyze a phenomenon in depth. They are based on interviews, focus groups or discussion groups. They are carried out above all to obtain information other than simple numerical data. They are used to obtain answers to the question "why?".
Primary and secondary research
As regards the type of data analysis, we also distinguish two types of research: primary and secondary. Primary research consists of the collection of data obtained directly for the specific study being carried out. Its great advantage is its timeliness and relevance (it refers to the specific market in question).
Secondary research uses data collected in the past from various types of studies, columns, essays, statements in industry forums, financial and statistical reports, and databases. They are usually less expensive because the databases do not have to be created from scratch and (in the case of popular markets) are much easier to obtain than primary data.