This document discusses marketing, client handling, and risk management. It begins by defining key terms like research, marketing, client handling, and risk management. It then discusses the importance of research and different types of research methods. The document also discusses why risk management is important for businesses and different strategies for responding to risks, like avoidance, mitigation and acceptance. Finally, it describes the key features and benefits of a Risk Management Information System, which allows businesses to collect and analyze risk data to help with decision making.
This document discusses eliciting risk information through communication and consultation with stakeholders. It notes that risk identification requires input from multiple stakeholders as no single person holds all relevant information. Effective communication methods depend on the complexity and significance of the issue. Risk identification involves establishing the internal and external context, risk management context, and defining risk criteria. Tools like SWOT analysis and stakeholder analysis can help identify strengths, weaknesses, opportunities, threats, and key stakeholders. Relevant parties should be invited to assist in risk identification through research, tools, and consultation.
This document provides an overview of marketing research and the marketing research process. It discusses the objectives of marketing research, defines marketing research, and outlines the five stages of the marketing research process: determining the purpose, planning the research, performing the research, processing the data, and preparing the research report. It also discusses limitations of the research process, ethical responsibilities of researchers, statistical techniques used, and marketing information systems.
Business research is a process of acquiring detailed information about all areas of business to maximize sales and profits. It helps determine the most profitable or in-demand products and services. Research design provides a framework for efficiently conducting research projects through structured data collection, measurement, and analysis. There are two main types of research design: quantitative, which uses numerical data and statistical analysis, and qualitative, which relies on non-numerical data from sources like interviews and observations. The goal is to draw valid conclusions through high-quality, credible research methods.
This document outlines the 6 key steps in conducting a marketing research project:
1. Defining the problem by discussing with decision makers and identifying the research questions.
2. Developing an approach including objectives, models, hypotheses and information needed.
3. Formulating a research design addressing data collection methods and sampling.
4. Conducting fieldwork and data collection through surveys, interviews or other methods.
5. Preparing and analyzing the collected data.
6. Preparing and presenting a report of the findings and recommendations to the client.
This document provides an overview of business research methodology and ethics. It discusses why business research is important, how it helps guide business decisions and reduce risk. It also covers the research process, characteristics of good research, who conducts research like business firms, trade associations and communication agencies. Finally, it outlines important ethics considerations around informed consent, privacy, deception and codes of conduct. The goal is to ensure research is designed to do no harm and obtain voluntary participation through full disclosure of the research process.
This document provides an introduction to data literacy for beginners. It defines key terms like data science, data analytics, and data literacy. It explains that data science involves building and structuring datasets, while data analytics refers to analyzing data to gain insights. The document then covers foundational concepts like the data ecosystem and lifecycle, data privacy and ethics, and data integrity. Finally, it discusses seven skills needed for data and analytics success, such as critical thinking, data visualization, and machine learning, and how readers can improve their skills. The overall document aims to give beginners a foundational understanding of data concepts to build their data literacy.
Week 1 Lecture The Nature of Business ResearchBusiness researc.docxkdennis3
Week 1 Lecture
The Nature of Business Research
Business research covers a wide range of phenomena. For managers, the purpose of research is to provide knowledge regarding the organization, the market, the economy, or another area of uncertainty. A financial manager may ask, “Will the environment for long-term financing be better two years from now?†A personnel manager may ask, “What kind of training is necessary for production employees?†or “What is the reason for the company’s high employee turnover?†A marketing manager may ask, “How can I monitor my retail sales and retail trade activities?†Each of these questions requires information about how the environment, employees, customers, or the economy will respond to executives’ decisions. Research is one of the principal tools for answering these practical questions.
Business research is the application of the scientific method in searching for the truth about business phenomena. These activities include defining business opportunities and problems, generating and evaluating alternative courses of action, and monitoring employee and organizational performance. Business research is more than conducting surveys.6 This process includes idea and theory development, problem definition, searching for and collecting information, analyzing data, and communicating the findings and their implications.
Applied business research is conducted to address a specific business decision for a specific firm or organization. The opening vignette describes a situation in which ESPN used applied research to decide how to best create knowledge of its sports fans and their preferences. Basic business research (sometimes referred to as pure research) is conducted without a specific decision in mind, and it usually does not address the needs of a specific organization.
All research, whether basic or applied, involves the scientific method. The scientific method is the way researchers go about using knowledge and evidence to reach objective conclusions about the real world. The scientific method is the same in social sciences, such as business, as in physical sciences, such as physics. In this case, it is the way we come to understand business phenomena.
A firm can be production-oriented. A production-oriented firm prioritizes the efficiency and effectiveness of production processes in making decisions. Here, research providing input from workers, engineers, finance, and accounting becomes important as the firm seeks to drive costs down. Production-oriented firms are usually very large firms manufacturing products in very large quantities. The third orientation is marketing- oriented, which focuses more on how the firm provides value to customers than on the physical product or production process. With a marketing-oriented organization the majority of research focuses on the customer. Research addressing consumer desires, beliefs, and attitudes becomes essential.
Diagnosing Opportunities: After a.
This document discusses eliciting risk information through communication and consultation with stakeholders. It notes that risk identification requires input from multiple stakeholders as no single person holds all relevant information. Effective communication methods depend on the complexity and significance of the issue. Risk identification involves establishing the internal and external context, risk management context, and defining risk criteria. Tools like SWOT analysis and stakeholder analysis can help identify strengths, weaknesses, opportunities, threats, and key stakeholders. Relevant parties should be invited to assist in risk identification through research, tools, and consultation.
This document provides an overview of marketing research and the marketing research process. It discusses the objectives of marketing research, defines marketing research, and outlines the five stages of the marketing research process: determining the purpose, planning the research, performing the research, processing the data, and preparing the research report. It also discusses limitations of the research process, ethical responsibilities of researchers, statistical techniques used, and marketing information systems.
Business research is a process of acquiring detailed information about all areas of business to maximize sales and profits. It helps determine the most profitable or in-demand products and services. Research design provides a framework for efficiently conducting research projects through structured data collection, measurement, and analysis. There are two main types of research design: quantitative, which uses numerical data and statistical analysis, and qualitative, which relies on non-numerical data from sources like interviews and observations. The goal is to draw valid conclusions through high-quality, credible research methods.
This document outlines the 6 key steps in conducting a marketing research project:
1. Defining the problem by discussing with decision makers and identifying the research questions.
2. Developing an approach including objectives, models, hypotheses and information needed.
3. Formulating a research design addressing data collection methods and sampling.
4. Conducting fieldwork and data collection through surveys, interviews or other methods.
5. Preparing and analyzing the collected data.
6. Preparing and presenting a report of the findings and recommendations to the client.
This document provides an overview of business research methodology and ethics. It discusses why business research is important, how it helps guide business decisions and reduce risk. It also covers the research process, characteristics of good research, who conducts research like business firms, trade associations and communication agencies. Finally, it outlines important ethics considerations around informed consent, privacy, deception and codes of conduct. The goal is to ensure research is designed to do no harm and obtain voluntary participation through full disclosure of the research process.
This document provides an introduction to data literacy for beginners. It defines key terms like data science, data analytics, and data literacy. It explains that data science involves building and structuring datasets, while data analytics refers to analyzing data to gain insights. The document then covers foundational concepts like the data ecosystem and lifecycle, data privacy and ethics, and data integrity. Finally, it discusses seven skills needed for data and analytics success, such as critical thinking, data visualization, and machine learning, and how readers can improve their skills. The overall document aims to give beginners a foundational understanding of data concepts to build their data literacy.
Week 1 Lecture The Nature of Business ResearchBusiness researc.docxkdennis3
Week 1 Lecture
The Nature of Business Research
Business research covers a wide range of phenomena. For managers, the purpose of research is to provide knowledge regarding the organization, the market, the economy, or another area of uncertainty. A financial manager may ask, “Will the environment for long-term financing be better two years from now?†A personnel manager may ask, “What kind of training is necessary for production employees?†or “What is the reason for the company’s high employee turnover?†A marketing manager may ask, “How can I monitor my retail sales and retail trade activities?†Each of these questions requires information about how the environment, employees, customers, or the economy will respond to executives’ decisions. Research is one of the principal tools for answering these practical questions.
Business research is the application of the scientific method in searching for the truth about business phenomena. These activities include defining business opportunities and problems, generating and evaluating alternative courses of action, and monitoring employee and organizational performance. Business research is more than conducting surveys.6 This process includes idea and theory development, problem definition, searching for and collecting information, analyzing data, and communicating the findings and their implications.
Applied business research is conducted to address a specific business decision for a specific firm or organization. The opening vignette describes a situation in which ESPN used applied research to decide how to best create knowledge of its sports fans and their preferences. Basic business research (sometimes referred to as pure research) is conducted without a specific decision in mind, and it usually does not address the needs of a specific organization.
All research, whether basic or applied, involves the scientific method. The scientific method is the way researchers go about using knowledge and evidence to reach objective conclusions about the real world. The scientific method is the same in social sciences, such as business, as in physical sciences, such as physics. In this case, it is the way we come to understand business phenomena.
A firm can be production-oriented. A production-oriented firm prioritizes the efficiency and effectiveness of production processes in making decisions. Here, research providing input from workers, engineers, finance, and accounting becomes important as the firm seeks to drive costs down. Production-oriented firms are usually very large firms manufacturing products in very large quantities. The third orientation is marketing- oriented, which focuses more on how the firm provides value to customers than on the physical product or production process. With a marketing-oriented organization the majority of research focuses on the customer. Research addressing consumer desires, beliefs, and attitudes becomes essential.
Diagnosing Opportunities: After a.
Business research methods are systematic activities undertaken to increase knowledge. Research is needed to make informed business decisions and solve problems. Good research is guided by a clear question or problem, has a specific plan, interprets data to resolve the issue, and is cyclical in nature. Decision support systems and business intelligence systems help managers make decisions by providing access to large data volumes and using analytical models to identify patterns and trends. These systems support a variety of decision processes without making the final decision.
The document discusses the origins and functions of modern management. It traces management practices back to 16th century England and defines management as organizing resources to achieve objectives. The functions of management involve planning, controlling, leading, and decision making across various business areas. There are different levels of management with top-level making major decisions and middle-level giving direction to lower management on implementing objectives.
This document discusses risk management in healthcare settings. It explains that risk management is important in hospitals and clinics to systematically identify and address risks from human error, poor organization, and unclear management that could harm patients, cost money, or cause loss of life. The document then outlines the 7 steps of the typical risk management process: 1) establish context 2) identify risks 3) analyze risks 4) evaluate risks 5) treat risks 6) monitor and review 7) communicate and consult. It provides examples of how different organizations use risk management and how to specifically assess and analyze risks.
Business analytics involves using data analysis and statistical models to solve business problems and drive decision-making. It starts with determining business goals and selecting an analysis methodology. Common types of business analytics include descriptive analytics, which tracks key performance indicators (KPIs) to understand the present state; diagnostic analytics, which focuses on past performance; predictive analytics, which uses statistics to forecast future outcomes; and prescriptive analytics, which generates recommendations. Business analytics professionals are responsible for collecting and analyzing data to influence strategic decisions through initiatives like identifying opportunities and problems, creating forecasts, and monitoring progress. Business analytics provides benefits like improving profitability, increasing market share, and facilitating better understanding of data to affect operational efficiency.
236 chapter 6 information systems for marketing decisions.docxeugeniadean34240
236 chapter 6 information systems for marketing decisions
the marketing research process 235
THE MARKETING RESEARCH PROCESS
224 chapter 6 information systems for marketing decisions
the marketing research process 225
226 chapter 6 information systems for marketing decisions
Marketing research process
A process used to collect data about marketing programs, external environments, and consumer markets In an attempt to improve the quality of marketing.
The marketing research process is undertaken to answer a wide variety of questions, which might include: "Where do our guests come from? How frequently do people dine out in this area? In what types of restaurants do they most frequently dine? If the seating capacity of a restaurant is expanded by 20 percent, what impact will this have on sales and profits? If the city builds a new convention center, how many additional room nights is that likely to bring to the city?"
Conducting market research is not an inexpensive proposition, and when research is undertaken, care must be taken to ensure that proper methods are used. This is true whether the hospitality organization conducts its own market research or relies on external consultants. Market research data are only as good as the methodology used. If poor methodology is used, the results are not likely to describe the situation accurately, and marketing decisions based on this information are not likely to be very appropriate. Figure 6.3 contains the five steps involved in the marketing research process.
(
Define the problem
) (
Analyzt
the data
<
r
Prepare the final report
Collect the data
)figure 6.3 • The marketing research process.
224 chapter 6 information systems for marketing decisions
the marketing research process 225
226 chapter 6 information systems for marketing decisions
Step 1: Define the Problem
Before initiating any marketing research effort, a firm must decide whether marketing research is necessary. In general, marketing research should be undertaken if it clarifies a problem that could impact your business, if it helps in selecting between alternatives for achieving marketing objectives, if it assists in gaining a competitive advantage, or if it provides useful information on your markets.1 Marketing research may not be needed if the information is already available, there is insufficient time for marketing research, resources are not available, or costs of conducting the research outweigh the potential benefits of having the information.
If the decision is made to proceed with the marketing research, the research problem should be clearly defined. What does the research effort propose to do? What types of questions need to be asked? What solutions are sought? A strong tendency among all researchers, especially novice researchers, is to rush into data collection without giving adequate thought to defining the problem. This tendency should be vigorously avoided. A small amount of time sp.
Analytics can help organizations better understand and manage their workforce. It is an ongoing process that provides insights into how various factors interact and affect outcomes like employee performance, satisfaction, and retention. While organizations can start with simple ad hoc reports, more sophisticated uses of analytics involve testing hypotheses, predictive modeling, and understanding how different parts of the organization influence overall performance. Both deductive and inductive techniques are used, with deductive starting with a hypothesis and inductive deriving theories from large data sets. Analytics provides a more comprehensive view than typical HR metrics by showing dynamic relationships between variables over time.
This document discusses how insurance companies can build analytics capabilities into their value chain. It advocates for a "whole brain analytics" approach that combines rational data-driven analytics with emotional insights from experience. The document provides examples of how analytics can be applied across an insurer's functions, from research and product development to distribution and customer service. It also outlines key considerations for insurance companies looking to establish an effective analytics capability, such as developing a strong governance model, evaluating their information architecture, using the right tools, and establishing an analytics innovation lab.
Marketing research process, Process of Marketing Research & Marketing Researc...Ashutosh Dubey
for detail explanaition you can check my youtube channel www.youtube.com/c/SuccessG in this presentation i have tried to explain all the important Steps in Marketing Research Process, and their Description in easy language.
#SuccessG
The document discusses marketing information systems and marketing research. It explains that marketing managers need regular information from various sources to deliver value to customers. An effective marketing information system gathers, analyzes and distributes accurate information to help managers make better decisions. The marketing research process involves defining problems/objectives, developing a research plan, implementing primary/secondary research, interpreting findings and reporting results. Both qualitative and quantitative research methods are discussed.
ASSESSING THE RELATIONSHIP EFFECTIVE RISK ANALYSIS HAVE ON BUSINESS SUCCESSRobin Beregovska
This document discusses risk analysis and its importance for business success. It begins by defining risk and explaining the history and evolution of risk management. The main points are:
1) Risk analysis identifies and analyzes issues that could jeopardize a business or project's success. It allows companies to assess risks and determine the best choices.
2) Conducting risk analysis provides several benefits like easier risk identification, higher quality decision-making data, improved communication, and more accurate budgeting.
3) While subjective and improbable risks are criticisms, overall risk analysis is a crucial process that helps companies achieve their objectives and minimize negative impacts.
Chapter I - RM Review of Fundamentals.pdfRabinThapa27
This document provides an overview of research methodology and the research process. It defines research as a systematic, scientific search for knowledge on a specific topic. The research process involves 8 steps: (1) formulating a research problem, (2) designing the research, (3) developing a data collection instrument, (4) selecting a sample, (5) writing a proposal, (6) collecting data, (7) analyzing data, and (8) reporting findings. Research should be logical, rigorous, systematic, valid, empirical, and critical. The objectives and types of research are also discussed.
The document summarizes the key elements of marketing management. It describes marketing management as allocating organizational resources toward marketing activities and being responsible for directing marketing funds. It then outlines the four steps of the marketing management cycle: 1) planning through environmental scanning, 2) implementation by putting plans into action, 3) monitoring plans and tracking changes, and 4) correction by taking action to adjust plans based on monitoring feedback.
Discussion1Explaining the results of Efficient Frontier Analysis.docxmadlynplamondon
The document discusses efficient frontier analysis and its uses in strategic risk management. It explains that efficient frontier analysis uses modern portfolio theory to help organizations optimize their risk portfolios by finding the combination of risks that provides the highest expected return for a given level of risk. This allows organizations to make better decisions about managing and insuring different types of risks. The document also provides a sample case study showing how efficient frontier analysis can be applied to evaluate different options for managing earthquake exposure, workers' compensation insurance, and general liability insurance risks.
This document provides an introduction to business research, including its scope, types, and role in decision making. Business research involves systematically gathering and analyzing data to guide business decisions and reduce uncertainty. It includes market research, operations research, and motivational research. Basic research increases knowledge through testing and refining theory, while applied research solves specific problems or gains understanding. Factors like time, resources, and costs influence business research. Globalization requires international approaches, and the internet allows faster and cheaper primary and secondary research.
The company provides advanced analytics and data-driven decision making services. It has deep analytical capabilities across various industries, developed custom products, and has an expert team of data scientists, analysts, architects and programmers. The vision is to be a world leader in advanced analytics and enabling technology. Services include marketing, operations, supply chain and risk analytics. The company uses big data technologies like Hadoop and advanced tools to deliver solutions focused on customers across industries.
leewayhertz.com-Data analysis workflow using Scikit-learn.pdfKristiLBurns
Data analysis is the process of analyzing, cleaning, transforming, and modeling data to uncover useful information and draw conclusions from it to support decision-making. It involves applying various statistical and analytical techniques to uncover patterns, relationships, and insights from raw data.
This document provides an overview of marketing research and its purpose. It discusses the marketing research process, including defining problems, developing approaches, designing research, collecting and analyzing primary and secondary data, and reporting findings. Primary data collection methods like questionnaires, interviews, focus groups and observation are explained. Secondary data sources include internal company records and external sources like government statistics, trade associations, and commercial reports. The document also distinguishes between qualitative and quantitative information and research methods.
This document discusses data mining applications in healthcare. It describes how data mining can be used by payers to detect fraud, by physicians to identify effective treatments, and by hospitals to predict patient readmissions. It outlines the standard CRISP-DM process for data mining and discusses challenges like data accuracy and interoperability. Examples of data mining techniques discussed include classification, regression, clustering, and association rule mining. The document recommends using SAS software for its advanced analytics capabilities and applicability to use cases like fraud detection and predicting patient risks and treatment effectiveness.
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...Adani case
Time and again, the business group has taken up new business ventures, each of which has allowed it to expand its horizons further and reach new heights. Even amidst the Adani CBI Investigation, the firm has always focused on improving its cement business.
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Business research methods are systematic activities undertaken to increase knowledge. Research is needed to make informed business decisions and solve problems. Good research is guided by a clear question or problem, has a specific plan, interprets data to resolve the issue, and is cyclical in nature. Decision support systems and business intelligence systems help managers make decisions by providing access to large data volumes and using analytical models to identify patterns and trends. These systems support a variety of decision processes without making the final decision.
The document discusses the origins and functions of modern management. It traces management practices back to 16th century England and defines management as organizing resources to achieve objectives. The functions of management involve planning, controlling, leading, and decision making across various business areas. There are different levels of management with top-level making major decisions and middle-level giving direction to lower management on implementing objectives.
This document discusses risk management in healthcare settings. It explains that risk management is important in hospitals and clinics to systematically identify and address risks from human error, poor organization, and unclear management that could harm patients, cost money, or cause loss of life. The document then outlines the 7 steps of the typical risk management process: 1) establish context 2) identify risks 3) analyze risks 4) evaluate risks 5) treat risks 6) monitor and review 7) communicate and consult. It provides examples of how different organizations use risk management and how to specifically assess and analyze risks.
Business analytics involves using data analysis and statistical models to solve business problems and drive decision-making. It starts with determining business goals and selecting an analysis methodology. Common types of business analytics include descriptive analytics, which tracks key performance indicators (KPIs) to understand the present state; diagnostic analytics, which focuses on past performance; predictive analytics, which uses statistics to forecast future outcomes; and prescriptive analytics, which generates recommendations. Business analytics professionals are responsible for collecting and analyzing data to influence strategic decisions through initiatives like identifying opportunities and problems, creating forecasts, and monitoring progress. Business analytics provides benefits like improving profitability, increasing market share, and facilitating better understanding of data to affect operational efficiency.
236 chapter 6 information systems for marketing decisions.docxeugeniadean34240
236 chapter 6 information systems for marketing decisions
the marketing research process 235
THE MARKETING RESEARCH PROCESS
224 chapter 6 information systems for marketing decisions
the marketing research process 225
226 chapter 6 information systems for marketing decisions
Marketing research process
A process used to collect data about marketing programs, external environments, and consumer markets In an attempt to improve the quality of marketing.
The marketing research process is undertaken to answer a wide variety of questions, which might include: "Where do our guests come from? How frequently do people dine out in this area? In what types of restaurants do they most frequently dine? If the seating capacity of a restaurant is expanded by 20 percent, what impact will this have on sales and profits? If the city builds a new convention center, how many additional room nights is that likely to bring to the city?"
Conducting market research is not an inexpensive proposition, and when research is undertaken, care must be taken to ensure that proper methods are used. This is true whether the hospitality organization conducts its own market research or relies on external consultants. Market research data are only as good as the methodology used. If poor methodology is used, the results are not likely to describe the situation accurately, and marketing decisions based on this information are not likely to be very appropriate. Figure 6.3 contains the five steps involved in the marketing research process.
(
Define the problem
) (
Analyzt
the data
<
r
Prepare the final report
Collect the data
)figure 6.3 • The marketing research process.
224 chapter 6 information systems for marketing decisions
the marketing research process 225
226 chapter 6 information systems for marketing decisions
Step 1: Define the Problem
Before initiating any marketing research effort, a firm must decide whether marketing research is necessary. In general, marketing research should be undertaken if it clarifies a problem that could impact your business, if it helps in selecting between alternatives for achieving marketing objectives, if it assists in gaining a competitive advantage, or if it provides useful information on your markets.1 Marketing research may not be needed if the information is already available, there is insufficient time for marketing research, resources are not available, or costs of conducting the research outweigh the potential benefits of having the information.
If the decision is made to proceed with the marketing research, the research problem should be clearly defined. What does the research effort propose to do? What types of questions need to be asked? What solutions are sought? A strong tendency among all researchers, especially novice researchers, is to rush into data collection without giving adequate thought to defining the problem. This tendency should be vigorously avoided. A small amount of time sp.
Analytics can help organizations better understand and manage their workforce. It is an ongoing process that provides insights into how various factors interact and affect outcomes like employee performance, satisfaction, and retention. While organizations can start with simple ad hoc reports, more sophisticated uses of analytics involve testing hypotheses, predictive modeling, and understanding how different parts of the organization influence overall performance. Both deductive and inductive techniques are used, with deductive starting with a hypothesis and inductive deriving theories from large data sets. Analytics provides a more comprehensive view than typical HR metrics by showing dynamic relationships between variables over time.
This document discusses how insurance companies can build analytics capabilities into their value chain. It advocates for a "whole brain analytics" approach that combines rational data-driven analytics with emotional insights from experience. The document provides examples of how analytics can be applied across an insurer's functions, from research and product development to distribution and customer service. It also outlines key considerations for insurance companies looking to establish an effective analytics capability, such as developing a strong governance model, evaluating their information architecture, using the right tools, and establishing an analytics innovation lab.
Marketing research process, Process of Marketing Research & Marketing Researc...Ashutosh Dubey
for detail explanaition you can check my youtube channel www.youtube.com/c/SuccessG in this presentation i have tried to explain all the important Steps in Marketing Research Process, and their Description in easy language.
#SuccessG
The document discusses marketing information systems and marketing research. It explains that marketing managers need regular information from various sources to deliver value to customers. An effective marketing information system gathers, analyzes and distributes accurate information to help managers make better decisions. The marketing research process involves defining problems/objectives, developing a research plan, implementing primary/secondary research, interpreting findings and reporting results. Both qualitative and quantitative research methods are discussed.
ASSESSING THE RELATIONSHIP EFFECTIVE RISK ANALYSIS HAVE ON BUSINESS SUCCESSRobin Beregovska
This document discusses risk analysis and its importance for business success. It begins by defining risk and explaining the history and evolution of risk management. The main points are:
1) Risk analysis identifies and analyzes issues that could jeopardize a business or project's success. It allows companies to assess risks and determine the best choices.
2) Conducting risk analysis provides several benefits like easier risk identification, higher quality decision-making data, improved communication, and more accurate budgeting.
3) While subjective and improbable risks are criticisms, overall risk analysis is a crucial process that helps companies achieve their objectives and minimize negative impacts.
Chapter I - RM Review of Fundamentals.pdfRabinThapa27
This document provides an overview of research methodology and the research process. It defines research as a systematic, scientific search for knowledge on a specific topic. The research process involves 8 steps: (1) formulating a research problem, (2) designing the research, (3) developing a data collection instrument, (4) selecting a sample, (5) writing a proposal, (6) collecting data, (7) analyzing data, and (8) reporting findings. Research should be logical, rigorous, systematic, valid, empirical, and critical. The objectives and types of research are also discussed.
The document summarizes the key elements of marketing management. It describes marketing management as allocating organizational resources toward marketing activities and being responsible for directing marketing funds. It then outlines the four steps of the marketing management cycle: 1) planning through environmental scanning, 2) implementation by putting plans into action, 3) monitoring plans and tracking changes, and 4) correction by taking action to adjust plans based on monitoring feedback.
Discussion1Explaining the results of Efficient Frontier Analysis.docxmadlynplamondon
The document discusses efficient frontier analysis and its uses in strategic risk management. It explains that efficient frontier analysis uses modern portfolio theory to help organizations optimize their risk portfolios by finding the combination of risks that provides the highest expected return for a given level of risk. This allows organizations to make better decisions about managing and insuring different types of risks. The document also provides a sample case study showing how efficient frontier analysis can be applied to evaluate different options for managing earthquake exposure, workers' compensation insurance, and general liability insurance risks.
This document provides an introduction to business research, including its scope, types, and role in decision making. Business research involves systematically gathering and analyzing data to guide business decisions and reduce uncertainty. It includes market research, operations research, and motivational research. Basic research increases knowledge through testing and refining theory, while applied research solves specific problems or gains understanding. Factors like time, resources, and costs influence business research. Globalization requires international approaches, and the internet allows faster and cheaper primary and secondary research.
The company provides advanced analytics and data-driven decision making services. It has deep analytical capabilities across various industries, developed custom products, and has an expert team of data scientists, analysts, architects and programmers. The vision is to be a world leader in advanced analytics and enabling technology. Services include marketing, operations, supply chain and risk analytics. The company uses big data technologies like Hadoop and advanced tools to deliver solutions focused on customers across industries.
leewayhertz.com-Data analysis workflow using Scikit-learn.pdfKristiLBurns
Data analysis is the process of analyzing, cleaning, transforming, and modeling data to uncover useful information and draw conclusions from it to support decision-making. It involves applying various statistical and analytical techniques to uncover patterns, relationships, and insights from raw data.
This document provides an overview of marketing research and its purpose. It discusses the marketing research process, including defining problems, developing approaches, designing research, collecting and analyzing primary and secondary data, and reporting findings. Primary data collection methods like questionnaires, interviews, focus groups and observation are explained. Secondary data sources include internal company records and external sources like government statistics, trade associations, and commercial reports. The document also distinguishes between qualitative and quantitative information and research methods.
This document discusses data mining applications in healthcare. It describes how data mining can be used by payers to detect fraud, by physicians to identify effective treatments, and by hospitals to predict patient readmissions. It outlines the standard CRISP-DM process for data mining and discusses challenges like data accuracy and interoperability. Examples of data mining techniques discussed include classification, regression, clustering, and association rule mining. The document recommends using SAS software for its advanced analytics capabilities and applicability to use cases like fraud detection and predicting patient risks and treatment effectiveness.
Adani Group's Active Interest In Increasing Its Presence in the Cement Manufa...Adani case
Time and again, the business group has taken up new business ventures, each of which has allowed it to expand its horizons further and reach new heights. Even amidst the Adani CBI Investigation, the firm has always focused on improving its cement business.
❼❷⓿❺❻❷❽❷❼❽ Dpboss Matka Result Satta Matka Guessing Satta Fix jodi Kalyan Final ank Satta Matka Dpbos Final ank Satta Matta Matka 143 Kalyan Matka Guessing Final Matka Final ank Today Matka 420 Satta Batta Satta 143 Kalyan Chart Main Bazar Chart vip Matka Guessing Dpboss 143 Guessing Kalyan night
Unlocking WhatsApp Marketing with HubSpot: Integrating Messaging into Your Ma...Niswey
50 million companies worldwide leverage WhatsApp as a key marketing channel. You may have considered adding it to your marketing mix, or probably already driving impressive conversions with WhatsApp.
But wait. What happens when you fully integrate your WhatsApp campaigns with HubSpot?
That's exactly what we explored in this session.
We take a look at everything that you need to know in order to deploy effective WhatsApp marketing strategies, and integrate it with your buyer journey in HubSpot. From technical requirements to innovative campaign strategies, to advanced campaign reporting - we discuss all that and more, to leverage WhatsApp for maximum impact. Check out more details about the event here https://events.hubspot.com/events/details/hubspot-new-delhi-presents-unlocking-whatsapp-marketing-with-hubspot-integrating-messaging-into-your-marketing-strategy/
Enhancing Adoption of AI in Agri-food: IntroductionCor Verdouw
Introduction to the Panel on: Pathways and Challenges: AI-Driven Technology in Agri-Food, AI4Food, University of Guelph
“Enhancing Adoption of AI in Agri-food: a Path Forward”, 18 June 2024
Presentation by Herman Kienhuis (Curiosity VC) on Investing in AI for ABS Alu...Herman Kienhuis
Presentation by Herman Kienhuis (Curiosity VC) on developments in AI, the venture capital investment landscape and Curiosity VC's approach to investing, at the alumni event of Amsterdam Business School (University of Amsterdam) on June 13, 2024 in Amsterdam.
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3. MEANING
Research is de
fi
ned as careful consideration of study regarding a particular concern or problem
using scienti
fi
c methods. According to the American sociologist Earl Robert Babbie, “research
is a systematic inquiry to describe, explain, predict, and control the observed phenomenon. It
involves inductive and deductive methods.”
Research begins by asking the right questions and choosing an appropriate method to
investigate the problem. After collecting answers to your questions, you can analyze the
fi
ndings or observations to draw reasonable conclusions.
Research is de
fi
ned as the creation of new knowledge and/or the use of existing knowledge in
a new and creative way so as to generate new concepts, methodologies and understandings.
This could include synthesis and analysis of previous research to the extent that it leads to new
and creative outcomes.
4. PURPOSE OF RESEARCH
2.Descriptive 3.Explanatory
1.Exploratory
As the name suggests,
researchers conduct exploratory
studies to explore a group of
questions. The answers and
analytics may not o
ff
er a
conclusion to the perceived
problem. It is undertaken to
handle new problem areas that
haven t been explored before.
This exploratory process lays
the foundation for more
conclusive data collection and
analysis.
It focuses on expanding
knowledge on current issues
through a process of data
collection. Descriptive research
describe the behavior of a sample
population. The three primary
purposes of descriptive studies are
describing, explaining, and
validating the
fi
ndings. For
example, a study conducted to
know if top-level management
leaders in the 21st century possess
the moral right to receive a
considerable sum of money from
the company pro
fi
t.
Causal or explanatory research is
conducted to understand the
impact of speci
fi
c changes in
existing standard procedures.
Running experiments is the most
popular form. For example, a
study that is conducted to
understand the e
ff
ect of
rebranding on customer loyalty.
4
5. RESEARCH IS CONDUCTED WITH A PURPOSE TO:
✦ Identify potential and new customers
✦ Understand existing customers
✦ Set pragmatic goals
✦ Develop productive market strategies
✦ Address business challenges
✦ Put together a business expansion plan
✦ Identify new business opportunities
6. WHAT GOOD RESEARCH MIGHT LOOK LIKE…
➤ Good research follows a systematic approach to capture accurate data. Researchers
need to practice ethics and a code of conduct while making observations or drawing
conclusionThe analysis is based on logical reasoning and involves both inductive and
deductive methods.
➤ There is an in-depth analysis of all data collected so that there are no anomalies
associated with it.
➤ It is analytical and uses all the available data so that there is no ambiguity in inference
➤ Accuracy is one of the most critical aspects of research. The information must be
accurate and correct. For example, laboratories provide a controlled environment to
collect data. Accuracy is measured in the instruments used, the calibrations of
instruments or tools, and the experiment’s
fi
nal result.
➤ It creates a path for generating new questions. Existing data helps create more
research opportunities
7. Research methods are broadly classified as Qualitative and Quantitative.
Both methods have distinctive properties and data collection methods
QUALITATIVE
QUANTITATIVE
8. TYPES OF RESEARCH METHODS AND EXAMPLE
Qualitative research is a method that collects data using conversational
methods, usually open-ended questions. The responses collected are
essentially non-numerical. This method helps a researcher understand what
participants think and why they think in a particular way.
Types of qualitative methods include:
1. One-to-one Interview
2. Focus Groups
3. Ethnographic studies
4. Text Analysis
5. Case Study
9. TYPES OF RESEARCH METHODS AND EXAMPLE
Quantitative methods deal with numbers and measurable forms. It uses a
systematic way of investigating events or data. It answers questions to justify
relationships with measurable variables to either explain, predict, or control a
phenomenon.
Types of quantitative methods include:
1. Survey research
2. Descriptive research
3. Correlational research
10.
11. It is essential to ensure that your data is:
• Valid – founded, logical, rigorous, and impartial.
• Accurate – free of errors and including required details.
• Reliable – other people who investigate in the same way can produce similar results.
• Timely – current and collected within an appropriate time frame.
• Complete – includes all the data you need to support your business decisions.
Remember, research is only valuable and useful when it is valid, accurate, and reliable.
Incorrect results can lead to customer churn and a decrease in sales.
13. MEANING
Marketing is the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging o
ff
erings that have value for customers,
clients, partners, and society at large.
Marketing refers to activities a company undertakes to promote the buying or selling
of a product or service. Marketing includes advertising, selling, and delivering
products to consumers or other businesses. Some marketing is done by a
ffi
liates on
behalf of a company.
15. “Customer service is the new
marketing, it's what di
ff
erentiates
one business from another.
- Jay Baer
16. MEANING
Customer relationship management is a process in which a business or other
organization administers its interactions with customers, typically using data analysis
to study large amounts of information.
Customer relationship management (CRM) is a process in which a business or
other organization administers its interactions with customers, typically using data
analysis to study large amounts of information.[1]
18. “"We don't manage risks so we can have no risk.
We manage risks so we know which risks are
worth taking, which ones will get us to our goal,
which ones have enough of a payout to even take
them"
Forrester
19. MEANING
Risk management is the process of identifying, assessing and controlling threats
to an organization's capital and earnings. These risks stem from a variety of sources
including
fi
nancial uncertainties, legal liabilities, technology issues, strategic
management errors, accidents and natural disasters.
A successful risk management program helps an organization consider the full range
of risks it faces. Risk management also examines the relationship between risks and
the cascading impact they could have on an organization's strategic goals.
20. Risk management has perhaps never
been more important than it is now. The
risks modern organizations face have
grown more complex, fueled by the rapid
pace of globalization. New risks are
constantly emerging, often related to and
generated by the now-pervasive use of
digital technology. Climate change has
been dubbed a "threat multiplier" by risk
experts.
A recent external risk that manifested
itself as a supply chain issue at many
companies -- the coronavirus pandemic --
quickly evolved into an existential threat,
a
ff
ecting the health and safety of their
employees, the means of doing business,
the ability to interact with customers and
corporate reputations.
WHY IS RISK MANAGEMENT IMPORTANT?
21. Risk management is an important
process because it empowers a business
with the necessary tools so that it can
adequately identify and deal with
potential risks. Once a risk has been
identi
fi
ed, it is then easy to mitigate it.
In addition, risk management provides a
business with a basis upon which it can
undertake sound decision-making.
For a business, assessment and
management of risks is the best way to
prepare for eventualities that may come
in the way of progress and growth.
When a business evaluates its plan for
handling potential threats and then
develops structures to address them, it
improves its odds of becoming a
successful entity.
WHY IS RISK MANAGEMENT IMPORTANT?
22.
23. RESPONSE TO RISKS
Response to risks usually takes one of the
following forms:
A
V
O
I
D
A
N
C
E
MITIGATION
ACCEPTANCE
A business strives to eliminate a particular risk by
getting rid of its cause.
Decreasing the projected
fi
nancial value associated
with a risk by lowering the possibility of the occurrence
of the risk.
In some cases, a business may be forced to accept a risk.
This option is possible if a business entity develops
contingencies to mitigate the impact of the risk, should
it occur.
24. RISK MANAGEMENT INFORMATION SYSTEM
A Risk Management Information System (RMIS) is an integrated computer information system
used to aggregate risk data and to help decision makers evaluate business risks.
This information includes risk exposure, protection measures and risk management. Examples
of stored information include loss-control measures, property values, records of prior claims and
relevant insurance policies.
Like other computerized information systems, a RMIS SYSTEM is easy to access from di
ff
erent
locations and on di
ff
erent devices. It is
fl
exible and agile, able to allow for the changing needs of
a modern workplace. At the same time, it is tailored to support your business’ risk concerns,
exposures, protection measures and risk management.
25. 1. Incident reporting tool
Many organizations view a RMIS as a claims management and incident reporting tool. This is
certainly one component of the system, but it’s just the tip of the iceberg. Each RMIS o
ff
ers a
wide variety of features, some tailor-made for speci
fi
c industries, from construction to
healthcare.
2. Collects data
To begin with, a RMIS o
ff
ers a selection of modules, or components, used to collect data. A
larger, more comprehensive RMIS will include modules to support all of a business’ current and
future needs. Some of these modules include policy management, premium calculation, risk
fi
nancing, contracts and vendor management.
FEATURES OF RISK MANAGEMENT SYSTEM
26. FEATURES OF RISK MANAGEMENT SYSTEM
3. Flexible
A RMIS should also include
fl
exible reporting tools to provide the information in a
useful format. These tools are often available in a template format, but others are
customizable to meet the needs of an individual organization.
2. Automated
Finally, a RMIS should help with automating processes. Gone are the days of
manually inputting data. Today’s RMIS reduces administrative burdens and improves
data accuracy by automating processes to eliminate human error and streamline data
collection.