Measuring the return on an investment (ROI) is part of good business practice. Both large and small companies must calculate the value of the items they buy, as well as the processes they create, in order to determine whether the time, effort and money they are spending to obtain and/or facilitate each of them is actually reaping any benefits...
Market research is the calculated and often complicated process of identifying the most pertinent aspects of a marketplace so that a company can glean and then use insight to effectuate better (i.e., more profitable) business decisions. While sometimes confused with marketing research, which is a more narrow type of research focused primarily..
Getting good data: it’s the key to making good decisions. Accurate information enables businesses to anticipate and respond to market demand and, hopefully, turn a profit at the end of the day.
The restaurant industry is a competitive one. There are more dining establishments and more diners now than during any other time in history; the National Restaurant Association reports over 1 million restaurant locations in the U.S. alone, a particular boon considering more than half the American population visits at least one of them each..
Data-driven decision making is the key to success for all businesses. The more facts and figures a company has, the better able it is to assess its policies, procedures, products and services, maintaining or altering them as needed to meet public demand.
But good data doesn’t just benefit for-profit organizations; we all use information to..
Companies introduce new products all the time. Whether those products succeed or fail often depends on the processes that went into their development rather than the usefulness of the products themselves. A profitable (i.e., successful) product is one that reaches consumers in the right place and the right time, as well as satisfies a specific..
There’s wide speculation regarding what will happen to the real estate market in 2019. Some experts predict a declining house inventory and stagnating home value appreciation that will leave many questioning how best to spend their money, while others (such as Redfin) forecast an increasing home ownership rate “as speculators and investors exit..
Ask most laypeople to talk about market research and they are likely to skip over discussions about weighting, response fatigue, feasibility and conjoint analysis techniques and instead turn immediately to surveys and focus groups. Both are so ingrained in the public’s notion of what it means to study a market that exploration of additional..
The convergence of a variety of factors in today’s market has made conducting business on a global scale a much more feasible option for all types of businesses, whether big or small. Cross cultural exposure due to changing political systems; a variety of cheaper, easier ways to travel; near universal telecommunication options; and good..
Market research companies are in the business of uncovering insights. They expose facts and then use those facts to provide context for meaningful action. But even if they have excellent methodologies that garner stellar data, it’s pointless unless they can deliver an end product that is easily understood. Think about your time in school:..