Use of ICT to support Market Research 1.1.2
Use of ICT is now now commonplace and essential market research
The capabilities of modern business IT has transformed market research. It is now relatively easy to learn about consumer preferences and buying habits by mining massive sets of quantitative data.
Data mining
Data mining is an example of secondary research. It relies heavily on data that is already there. It's quicker automated and huge sets of data can be analysed which means it can reduce the need for sampling. Data can also be linked for example transactional data with customer profiles.
Data mining is an example of secondary research. It relies heavily on data that is already there. It's quicker automated and huge sets of data can be analysed which means it can reduce the need for sampling. Data can also be linked for example transactional data with customer profiles.
Social media
Social media data is a source of both primary and secondary research. Software can now quickly highlight what customers are saying about the product or brand through secondary research. Survivor not easy assess and analyse results in real time and there is also a wide range of powerful software applications to manage social media research and integrate with other business systems
Social media data is a source of both primary and secondary research. Software can now quickly highlight what customers are saying about the product or brand through secondary research. Survivor not easy assess and analyse results in real time and there is also a wide range of powerful software applications to manage social media research and integrate with other business systems
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