Q1. Difference Between RDG and SL ?

RDG :

• Random data generation in the context of data analytics and market research involves creating
datasets that simulate real-world data but are generated through statistical methods and
algorithms to be used for various analytical purposes.
• Randomly generated data is often used to test and validation.
SL :

• A soft launch for survey data in market analysis refers to a preliminary rollout of a survey to a
small, controlled group of respondents before a full-scale launch. This approach allows
researchers to identify and address any potential issues with the survey design, questions, or
methodology before it reaches a larger audience.
• Benefits : Improved survey design, Cost efficiency , Risk mitigation

Q2. What is Primary and Secondary Information ?

• Primary information is data collected directly from the source for the specific purpose of the
research project at hand. It is original and collected firsthand through various methods tailored
to the specific needs of the study.
• Methods For Collecting PI : Surveys and Questionnaires , Interview , Focused groups.
• Data that has previously been gathered, examined, and released by others is referred
to as secondary information. When collecting primary data is not practical, this
information is usually taken from already-existing sources and used as a stand-alone
resource or to supplement original data.

Q3.What are the advantages of Market Research?

Businesses and organizations can benefit greatly from market research since it provides vital
information and insights that help with decision-making. The following are market research's
main benefits,

• Informed Decision-Making
• Identifying Market Opportunities
• Understanding Customer Needs and Preferences
• Competitive Advantage
• Minimizing Risks
• Optimizing Marketing Strategies
• Enhancing Customer Satisfaction
• Identifying Problems and Solutions
• Setting Realistic Goals and Objectives
• Supporting Business Growth
• Product Development and Innovation
• Improving Communication
• Trend Analysis
• Resource Allocation
• Long-Term Planning
Q4. What are sampling methods?

Sampling methods are techniques used to select a subset of individuals or items from a larger
population for the purpose of conducting research or analysis. Here are the main types of sampling
methods,

Probability Sampling Methods:

Simple Random Sampling

Systematic Sampling
Cluster Sampling
Multi-Stage Sampling

Non-Probability Sampling Methods:

Convenience Sampling
Judgmental (Purposive) Sampling
Quota Sampling
Snowball Sampling

Q5. What is quantitative and qualitative analysis with Example ?

• Quantitative analysis involves the collection and examination of numerical data. It focuses on
identify patterns, relationships, or trends. This type of analysis often uses statistical techniques
to derive conclusions from the data.
• Example: A company surveys 1,000 customers about their satisfaction with a new product and
uses the average satisfaction score to gauge overall customer sentiment.
• Qualitative analysis involves the collection and examination of non-numerical data. It focuses
on understanding concepts, opinions, or experiences through detailed descriptions and analysis.
• Example: A company holds focus group sessions with 10 groups of consumers to understand
their feelings about the packaging and features of a new product.