2. Introduction
Data is a very valuable asset for businesses
Data enables businesses to extract valuable insights
There are different types of data that can be collected
Data collection approaches need to be carefully selected
Insights allow businesses to estimate the value of actions
Data collection is used in marketing, operations research and financial decision
making
3. What is Data?
Data consists of facts and statistics for reference and analysis
Facts such as people like ice cream
Facts such as people are developing healthier lifestyles
A statement such as “this was fun, I enjoyed the comedy show”
90% of kids like playing with colourful toys
The average Pakistani will choose biryani for dinner 70 % of the time
4. Types of data: Qualitative
This defines the quality of a variable and measurement of an information in attributes or
stated facts and not in numerical terms
Open qualitative data can be collected from asking questions such as “What did you
think about this lecture?”
Attribute can be either nominal or ordinal
Nominal is a range of responses without any order of preference
Ordinal is a range of responses with order of preference
Both nominal and ordinal responses are finite
5. Types of data: Quantitative
This type of data can be expressed in numerical terms
The data collected relates to a specific measurable quantity
Quantitate data carries a numerical value
Quantitative data can be discrete or continuous
Discrete data can only carry certain values
Continuous data can carry any value with in a range
6. Why is data collection important?
To understand the dynamics of a market
To identify changes happening in the market
To align marketing strategy to the market
To decide pricing, placement and promotion of products
To decide which market to enter or which markets to exit
To ensure fact based decision making
To maintain a good customer relationship management process
7. The data collection process
Identification of a problem or a question
Developing a research question
Selecting data points
Targeting the type of data to be collected
Choosing a data collection method
Selecting the right measurement scale
Executing the data collection process
8. Primary vs Secondary Research
Primary sources and Secondary sources
Primary sources are original collections of data, documents or a study
Secondary sources are is collection of data from a pre-existing primary
source of data
If one conducts research and gathers data then this is primary research
as this original in nature
If one uses a research document to gather data then this is secondary
research as data is collected from an existing original work
9. Data Collection Methods
Surveys
Questionnaires
Interviews
Internet
Observations
Mystery Shopping
10. Surveys
Measure of opinions and experiences through asking questions to a
group of people
This is a systematic approach to collect information from individuals
in a sample population
Many aspects such as accuracy of responses and willingness to
participate effect the outcome of a survey
Surveys can be conducted through telephone, mail or through the
internet
11. Questionnaires
Asking questions in written form with a set of answer choices to conduct a survey or a
statistical study
A questionnaire can measure a set of variables such as behavioural or preferential aspects
A questionnaire can measure a variable on a scale such as a level of agreeableness to a
statement
Questionnaires can include open questions
Questionnaires can be presented verbally or in written forms
An important aspect is the design and construction of questions included in a
questionnaire
12. Interviews
Interviews involve one on one questioning or discussions with individuals or a group of
individuals in a verbal manner
An interview can be structured or semi-structured
A structured interview consists of a list of questions that are asked to every respondent
A semi structured interview will have some questions that are asked to everyone, but then
move to a discussion format
Some interviews can be unstructured and are conducted as a discussion about a topic
Interviews can be conducted over the phone, one on one or in focus groups
13. Observations
A method of data collection where a situation of interest Is observed and related
factors are recorded
A simple way of describing observations can be WATCHING
The situation of interest relates to the research question i.e. a fast food
manufacturer would be interested in observing what behavioural factor leads to
customers choosing a fast food restaurant
Observation is a tool that can collect data on factors like non verbal expressions,
habits, tastes and preferences without intervening with dynamics of a market
14. The Internet
The internet is generating large of amounts of data and much of it is useful for
marketing
Social media, forums and search engines provide useful information on customer
behaviour and preferences
The internet can be used to collect both qualitative and quantitative data
Interviews, surveys and questionaries' can be conducted over the internet
Secondary research can also be done over the internet
15. Mystery shopping
Mystery shopping lets a company gain insight to the customer experience it
is providing to its customers
Some individuals may be asked to shop or engage with the business with
the aim to provide feedback to the company of the overall experience
The experience of the individuals will show the company of how the
customer experience is being in qualities and quantitative terms
After mystery shopping the participants can be interviewed or a
questionnaire can be distributed to them
16. Case Study
A spa management consulting company and training academy wanted
to align its strategy to high end spas. The company wanted to know
what are the aspects or areas that the company can target to for
training and consulting engagements. Secondly, the company wanted
to decide whether selling equipment to its customers as part of a
complete spa solution will be a good option.
How can the business collect data to reach a decision to both
questions?
17. Increasing value of data
Shift to fact based decision making to reduce risk and increase
performance
Availability of and access to large amount of data sets
Development of advanced analytical processes
Advanced data collection techniques such as data warehousing
Integration of data analysis from operational to strategic levels of
businesses to increase proficiency
Increased use of data for predictive and prescriptive analysis
Using the right data collection and analysis techniques gives business a
competitive advantage in the market
18. Review
Data is valuable for making appropriate decisions in relation to business strategy
Choosing the right data collection method for a research questions is important to extract an
actionable insight
There are different types of data and these can be collected from primary or secondary
sources
There are many methods of data collection, the list of general methods listed is not exhaustive
The research aim guides the data collection process
A proficient data collection method forms the basis for extraction of insights from the market
to act upon
Data is becoming more readily available in enormous amounts and data collection and
analytical techniques are advancing to produce quicker more valuable insights for businesses