Market Research Glossary
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Market Research Glossary | Market Research Buffalo NY
Posted at: 4/5/2017 8:18 PM
The market research industry is never short of acronyms and terms. Some are more easy to define than others. However, for small business who may not have much experience in the field, the types of market research studies and methodologies available to them can easily become overwhelming. With the small business in mind and those who may not have the depth and breadth of experience in market research, we decided to create a short glossary. The questions below are almost a FAQ of some key industr
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What is a Research Panel? | Market Research Company Albany, NY
Posted at: 3/15/2017 7:18 PM
Market research panels are growing in popularity among all organizations. As a market research company serving Albany and Upstate New York, Drive Research has worked with a number of organizations to help them build their in-house research panels. Requests to build a research panel have grown tremendously in the past 5 years. We all know there is a lot of market research and survey noise in the industry. Consumers are being asked left and right to complete surveys from everything from hamburger
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Market Research FAQs | Market Research Company Buffalo NY
Posted at: 3/9/2017 8:01 PM
Market research is all about questions. So it may come as no surprise several questions exist about the market research process as well. How does it work? How is a methodology chosen? How do I get started? We help clients who are new to market research answer these questions on a daily basis. We decided to tackle a few of the more common market research FAQs in this post. This is a compilation of the most beneficial and most frequently asked questions by clients and potential clients. You have
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What is Seeding in Marketing Research? | Market Research Firm Rochester, NY
Posted at: 1/27/2017 4:10 PM
Nowadays businesses both large and small use customer databases and utilize sales systems and CRM tools to organize data. These systems like Salesforce and Oracle track customer records on everything from contact information to sales transactions and ordering. The best companies find ways to integrate these systems together so insights and analysis can be pulled from all of these big data sources. When it comes to customer surveys it should be no different. The benefit of using the customer fee
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5 Common Acronyms | Market Research Company Rochester NY
Posted at: 1/4/2017 7:37 PM
No industry is short of abbreviations and acronyms. Those working in the field for 10+ years may use these repeatedly not understanding that a newcomer to the industry may have no clue as to what you're talking about. Market research is no different, so here are a few acronyms we commonly use with a short definition of each. DNQ (Did Not Qualify) This is a term often used in a survey or recruitment log in which the respondent file is noted to indicate the disqualified based on the requiremen
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What is Sentiment Analysis? | Market Research Company
Posted at: 12/27/2016 7:06 PM
Sentiment analysis is a type of market research that's been thrown around a bit more of late. It's been of particular interest over the past decade or so as social media usage has exploded. Brands realize that consumers are talking about their products and forming opinions every second of every day on social media. As a result, companies are trying to quantify all of these perceptions and attitudes towards their brands, products, and services. Conversation is happening, and sentiment analysis at
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What is a Data Scientist? | Market Research Company Buffalo NY
Posted at: 12/18/2016 4:58 PM
Marketing reseach is not short on new trends, methodology nicknames, acronyms, and trendy skills. Sometimes it reminds me of the Subway's "Sandwich Artists." Not a day goes by where you will not see an article about either big data, data visualization, or business intelligence (BI). One of the growing professions in the field has been what is called a "Data Scientist." What is a data scientist? A data scientist is a person who can perform advanced forms of analysis to generate insights and
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What is Segmentation? | Market Research Firm, Syracuse NY
Posted at: 12/12/2016 4:32 PM
Companies have access to more customer data than ever before. Whether it is through surveys, customer loyalty cards, in-store data, or web analytics, it can be easily overwhelming to comb through these databases to pull out relevant insights. Although the industry can come up with new tags for a term in an attempt to coin phrases such as profiling, personas, and clusters - it's still just plain segmentation. What is segmentation analysis? It is the practice of dividing or coupling your cus
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What is a Screener? | Market Research Syracuse, NY
Posted at: 12/11/2016 4:28 PM
What is a screener in marketing research? A screener is a series of qualifying questions to determine if the respondent fits specific criteria to participate in a research study. Screeners are conducted over the phone and online. If the participant fails to match the criteria needed to participate he or she is disqualified from the study and no further questions are asked. Some typical criteria covered in marketing research screener include the following: Ensuring the participant does not wor
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What is Data Mining? | Market Research Company Buffalo, NY
Posted at: 12/8/2016 9:08 PM
What is data mining? Data mining is a quantitative process where hidden trends and patterns in databases are pulled by an analyst to generate insights. This type of analysis is becoming more commonplace today, as big data continues to grow. In the field of marketing research it is often an easy first step and extremely valuable process for an organization. Virtually all companies both small and large have multiple and sometimes countless databases. A simple example of this is a customer data
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What is the Hawthorne Effect in Market Research?
Posted at: 12/5/2016 8:56 PM
In market research, understanding biases that can affect data integrity is crucial. One such bias is the Hawthorne Effect. You may have encountered it without knowing its name. This blog will explore the Hawthorne Effect, its implications in market research, and strategies to reduce its impact. What is the Hawthorne Effect? The Hawthorne Effect refers to the phenomenon where individuals alter their behavior because they are aware they are being observed. This awareness can lead to responses
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What is Interviewer Error? | Market Research Company
Posted at: 11/24/2016 7:40 PM
Virtually all types of marketing research methodologies incur some type of bias. Whether it be sequence bias, the halo effect, acquiescence bias, or self-selection bias the options are endless. All have an impact on your data quality and are often an accepted limitation in the industry. Another type of bias is often called interviewer error. What is interviewer error? Interviewer error is a form of bias in which the interviewer administering the survey in-person, by phone, or through chat