1. Business research has everything on your business.

Including the strategies to make,

computation of sales, advertising, marketing, data, and information that your
business needed to consider. For a manager like me, this research seems very useful
in our company especially since our business is growing and we need the help of
new applicants. This research that we have in our organization will be distributed to
the new employees to understand the purpose of this business via Connecteam’s
employee training feature. It makes it easier to explain their duties and what will be
their tasks.

What do we need from the research? is prime to make the managerial decisions. The
information that the management requires that helps in making decision more precise and
more relatable. In almost every decision of the company depends upon the research or the
past result. Moreover, from location identifying, hiring, invoicing to producing a product as
well as marketing it by identifying the price for the unit does fall under managerial decision
which can be made only by interpreting the research results.

If the organization is not performing well then the organization should have to make the
decision to more clear and more precise.

Market research is an organized effort to gather information about target markets and
customers: know about them, starting with who they are. It is a very important component
of business strategy and a major factor in maintaining competitiveness.

1. To stay updated about the industry.

2. To know what the competitors are doing.
3. To update your product and your offers as per market needs.
4. To understand the customer's way of thinking.
5. Know where to advertise and what kind of campaign to create.

2. Quantitative research is an important part of market research that relies on hard facts and
numerical data to gain as objective a picture of people’s opinions as possible.

It’s different from qualitative research in a number of important ways and is a highly useful tool
for researchers.

In this article, we’ll take a deep dive into quantitative research, why it’s important, and how to
use it effectively.
How is it different from qualitative research?

Although they’re both extremely useful, there are a number of key differences between
quantitative and qualitative market research strategies. A solid market research strategy will
make use of both qualitative and quantitative research.

 Quantitative research relies on  gathering numerical data points. Qualitative research on the
other hand, as the name suggests, seeks to gather qualitative data by speaking to people in
individual or group settings. 
 Quantitative research normally uses closed questions, while qualitative research uses open
questions more frequently.
 Quantitative research is great for establishing trends and patterns of behaviour, whereas
qualitative methods are great for explaining the “why” behind them.

Why is quantitative research useful?

Quantitative research has a crucial role to play in any market research strategy for a range of
reasons:

 It enables you to conduct research at scale

 When quantitative research is conducted in a representative way, it can reveal insights about
broader groups of people or the population as a whole
 It enables us to easily compare different groups (e.g. by age, gender or market) to understand
similarities or differences 
 It can help businesses understand the size of a new opportunity 
  It can be helpful for reducing a complex problem or topic to a limited number of variables
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Quantitative research data collection methods

When collecting the data you need for quantitative research, you have a number of possibilities
available to you. Each has its own pros and cons, and it might be best to use a mix. Here are
some of the main ones:
Survey research

This involves sending out surveys to your target audience to collect information, before
statistically analyzing the results to draw conclusions and insights. It’s a great way to better
understand your target customers or explore a new market and can be turned around quickly. 

There are a number of different ways of conducting services, such as:

 Email — this is a quick way of reaching a large number of people and can be more affordable
than the other methods described below.
 Phone — not everyone has access to the internet so if you’re looking to reach a particular
demographic that may struggle to engage in this way (e.g. older consumers) telephone can be a
better approach. That said, it can be expensive and time-consuming.
 Post — as with the phone, you can reach a wide segment of the population, but it’s expensive
and takes a long time. As organisations look to identify and react to changes in consumer
behaviour at speed, postal surveys have become somewhat outdated. 
 In-person — in some instances it makes sense to conduct quantitative research in person.
Examples of this include intercepts where you need to collect quantitative data about the
customer experience in the moment or taste tests or central location tests, where you need
consumers to physically interact with a product to provide useful feedback. Conducting research
in this way can be expensive and logistically challenging to organize and carry out.

Survey questions for quantitative research usually include closed questions, rather than the open
questions used in qualitative research.. For example, instead of asking

“How do you feel about our delivery policy?”

You might ask…

“How satisfied are you with our delivery policy? “Very satisfied / Satisfied / Don’t Know /
Dissatisfied / Very Dissatisfied” 

This way, you’ll gain data which can be categorized and analyzed in a quantitative, numbers-
based way.

Analyzing results

Once you have your results, the next step — and one of the most important overall — is to
categorize and analyze them.

There are many ways to do this. One powerful method is cross-tabulation, where you separate
your results into categories based on demographic subgroups. For example, of the people who
answered ‘yes’ to a question, how many of them were business leaders and how many were
entry-level employees?
You’ll also need to take time to clean the data (for example removing people who sped through
the survey, selecting the same answer) to make sure you can confidently draw conclusions. This
can all be taken care of by the right team of experts.

The importance of quantitative research

Quantitative research is a powerful tool for anyone looking to learn more about their market and
customers. It allows you to gain reliable, objective insights from data and clearly understand
trends and patterns.

Where quantitative research falls short is in explaining the ‘why’. This is where you need to turn
to other methods, like qualitative research, where you’ll actually talk to your audience and delve
into the more subjective factors driving their decision-making.

3. The goal of scientific research is to discover laws and postulate

theories that can explain natural or social phenomena, or in other
words, build scientific knowledge. It is important to understand
that this knowledge may be imperfect or even quite far from the
truth.
Business Research helps you communicate with current and potential
customers in a better way.
It helps you identify opportunities and threats in the marketplace.It helps
you minimize risks.
Business research is used to plan investments and financial outcomes
effectively.
It helps you build a better market position.
It can keep you updated with current trends and innovations in the
market.

The scientific method is a systematic method of investigation, evaluation,

experimentation, interpretation and theorizing. It is characterized by critical
discrimination generally and system, and empirical verification. Generally speaking, the
scientific method is characterized by a systematic study, based on theory and facts,
universality or generality, objectivity of observation, predictability of results, and
verifiability of the phenomenon. It consists of a number of formalities and procedures,
which are time consuming. Time management is the basic requirement for the success
of managerial decisions. Many management problems require timely solutions and
decisions. In such situations, the management may not have adequate time at its
disposal to make use of scientific studies before arriving at decisions. Laboratory
experiments occupy a prominent place in the scientific method, which may not be useful
in many situations of managerial decision-making.

Physical science phenomena may be subjected to laboratory tests and physical control.
Most of the managerial policies and decisions, however, affect human beings. An
individual’s behavior differs substantially from that of another from time to time, place
to place and environment to environment and it cannot be placed under absolute
control, for it is very difficult to employ the scientific method is the practice of
management. Despite the development of dynamic methods of management
information systems, many decision areas, such as those of labor productivity, materials
handling, product planning and consumer behavior, require complex data to be
analyzed as a part of the scientific method which may not be appropriate in quick
managerial decisions. The greater the complexity of the data, the lesser is the possibility
of accuracy and the lesser is its utility in the management process.

Consumer behavior, a trade union’s behavior, workers’ behavior, the tastes,

temperaments and fashions of the population at large, the demonstration effect in the
market, technological development, political change, social change, geographic change,
and such other forces influence business policy a great deal. Many of these forces,
especially the human factor, are unpredictable. Despite a thorough scanning of the
environment, a perfect prediction, on the basis of these variables, is just not possible, as
it is in the physical sciences. The scientific method of research, therefore, has a limited
applicability in such managerial decision areas

4. The quality of research approximate the truth. The main purpose ofthis
research is to mention the criteria that may assist us to write agood
research. 1-The purpose of research or the problem involved
should beclearly defined and sharply limited in terms as explicit as
possible.The statement of research problem should have analysis into
itssimplest elements ,its scope and limitations and
preciseprosperities of the meanings of all words significant to
theresearch. If the researcher failed to do this adequately , he
willraise the doubts in readers' minds .2-It is important to write the
research procedure in sufficient detailin order to let another researcher
repeat the research, unless thesecrecy is imposed.3-The design of
procedure should plane carefully in order to gainobjective results.
Direct experiments should have satisfactorycontrols. Direct
observations should be recorded in writing as soonas possible after the
event. To diminishing siding in selecting andrecording data ,efforts
should be made.4-The researcher should report with complete
explication ,demerits in the procedural design and estimate their
effect uponthe findings. Some demerits effect on data and
make themunreliable or lack validity .A competent research
should besensitive to the effects of imperfect design and his
experience in

analyzing the data should give him a bases for estimating theirinfluence .5-An
analysis of data should be completely enough to reveal itssignificance and
the method of analysis used should beappropriate. The validity and reliability
of data should be checkedcarefully. The data should be classified in a way that the
researchreaches a good conclusions. When the statistical methods areused the
probability of errors should be evaluated and the criteriaof statistical significance
applied.6-"Conclusions should be confined to those justified by the data ofthe
research and limited to those for which the data provide anadequate basis."
Researchers are often tempted to expand thebases of exhorting by including
personal experiences not subjectto the controls under which the research data were
gathered. Thistends to decrease the objectivity of the research and
weakenconfidence in findings.7- If the researcher is honest , a greater confidence in
the researchis warranted .Were it is possible for the readers of a
researchreport to get an enough information about the researcher , thiscriterion
would be a good bases for judging the degree ofconfidence a piece
of research warrants.for this reason, theresearch should accompanied by
more information about theresearcher.(Harold,1958:285