5 Important Rules for Getting Business Intelligence

Business Intelligence is the practice Business Intelligence of collecting and analyzing mountains of data to determine current business success, opportunities within the current market, and forecast potential opportunities and options that will benefit the business over the long term.

Collecting data for business intelligence purposes can be time consuming and expensive; however, there are important rules for getting business intelligence that allow you to reduce costs and obtain the most relevant data. Continue reading

Reading between the lines with your survey data: what aren’t they telling you?

Reading between the lines with your survey data should not be necessary, but it is a reality that every business must face. Even with the most well developed surveys there is always the unfortunate reality that customers are not filling them out accurately to provide you the information you need to improve your business and generate increased success. Continue reading

What can the right marketing data do for your company?

With all that marketing data available you Easy Targetwould think that every company would be successful; unfortunately, sometimes they miss the mark. Chances are they weren’t getting the right marketing data or they misinterpreted what they had. Let’s take a look at two technology related companies. One that read the data right and one that missed the mark.

Apple, Inc. has created brand loyalty and great success through their marketing campaigns and product development. They have been able to do this for two reasons. Continue reading

Intuition, a good idea & the right data: the secret sauce of marketing success

Acquiring good customer data is onlyAnalyzing Survey Data one ingredient in “the sauce” for successful marketing, but you need to realize that it is just the base ingredient. Through surveys and demographic data, you can gain the foundation that will allow you to make informed decisions on which direction to go with your marketing strategies. However, savvy entrepreneurs and other business professionals understand that they need to trust their instincts and creativity to develop a successful and effective marketing strategy. Continue reading

Building Solid Business Strategy Through Market Research

Market Research

As a leader within your organization, are you leading with data driven decisions? Or are you basing your overall business strategy on your “gut” or your previous experience? Don’t do that. It’s better to build a solid business strategy through market research. Here’s why: Continue reading

Lead with Data Driven Decisions

Lead DataInformation is the prime asset of enterprise, the departure point for all decisions leading to product innovation, marketing strategy, and ongoing competitive advantage.  IT generates an abundance of business information; the problem is selecting data most useful to your enterprise purposes and using it to devise suitable long-term objectives.  Data driven decision-making is based on big data analytics, which particularizes and coordinates enterprise-derived information towards specific organizational objectives. Analyzing large data-sets for assessment of strategic performance is the current best practice technique of enterprise decision-making. Continue reading

Trusting Research Results of Product Concepts

There’s little question that investing in product research and subsequent development has the ability to reap dividends for a company, which is why it’s a tactic utilized by so many businesses. Nonetheless, you’re probably intimately aware of the difficulties inherent in trying to obtain definite results, because of concerns with consumer forthrightness, your own poorly-worded questions for a particular demographic, and simply finding the optimal time to pitch surveys to the busy customer. Thankfully, there are some things you can do to facilitate market research data analysis, so that the results return something you can actually work with, to better your product or service. Continue reading

Latent Variables in Data Analysis

Latent variables are variables that are not directly observed, but are inferred through other data. Once data is accumulated it is typically presented through the usage of oval diagrams.

Latent variables correspond to real current physical aspects. For example, when a store determines where to place products on shelves next to other products that were observed to be bought together by most customers, this can be considered latent variables within survey data. Continue reading

Approach Market Research with Deduction or Induction Reasoning

As a corporation or individual, it is important for you to excel in your business. For you to succeed you need to know factors that affect your enterprise. The market research process should include gathering information about your competitors’ activities, consumer preference on product or services, product placement and many marketing issues for analysis. Continue reading

Making Informed New Product Decisions with Survey Analysis

Market research and survey analysis provide businesses with the information they need to ensure new products are developed and positioned to satisfy their target audience. The results of researching, surveying and analyzing the market are extremely important in developing products that fill a need and capture the attention of your consumers. Continue reading