Market Research Glossary
-
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
-
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
-
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
-
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
-
What is a MROC? | Marketing Research Company Syracuse, NY
Posted at: 12/16/2016 4:49 PM
There is a difference between a MROC and an online panel. What is a MROC? A MROC is short for Market Research Online Community. A MROC is defined as a group of pre-qualified and interested participants who share a commonality or expertise in a certain field that can be accessed at any time for marketing research needs. The MROC members are typically utilized regularly throughout the year by a company or research firm for various qualitative and short quantitative studies. They are viewed as
-
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
-
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
-
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
-
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
-
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
-
What is Text Analytics? | Market Research Company in Buffalo, NY
Posted at: 11/18/2016 7:18 PM
Market research is always evolving. The challenge is finding new ways to analyze data, text, and information to generate actionable insights and outcomes. A new technique and term that has grown in popularity in the past 5 years is text analytics. What is text analytics? Text analytics is simply a way of analyzing text and generating insights from patterns, trends, and ways of speech. Without text analytics, your open-ends might look something like this: A simple application for text analy
-
What is Margin of Error? | Market Research Firm in Central New York
Posted at: 11/4/2016 3:34 PM
Margin of error is a term commonly used in market research. It's the accepted standard for reliability of data with probability and random sampling. It tells us within a certain confidence, how accurate our data really is. But it is often a difficult concept to explain to those not well-versed in statistics or market research. Margin of error typically coincides with three different confidence levels in statistics - either 90%, 95% or 99%. For example, let's say the report you are reading say