This document discusses how market research has evolved in the era of big data. It outlines how computers and technology have enabled more data-driven decision making through improved data collection and analysis. Most companies now outsource their market research to specialized marketing firms. Market research involves analyzing collected information to align with business strategy and improve operations through metrics that measure organizational performance. Data mining software is used to find patterns in data and relationships not seen otherwise to help answer previously unconsidered questions.

1. MARKET RESEARCH IN THE
ERA OF BIG DATA
Mike Smith
Sinclair Community College
Foundation of Marketing

2. The Market Research Function
• How Marketing Research Has Evolved
• Computers have drastically changed how
research is conducted in companies today.
• Technology has enabled data collection and
analysis.
• Data collection has provided data driven
decision making.

3. The Market Research Function
• Who Conducts Marketing Research
• Outsourcing of market research has
become more common.
• Most companies hire marketing firms to
research for them.
• Independent marketing companies often
specialize in part of marketing research
projects rather than the entire study.

4. The Market Research Function
• Marketing Intelligence
• Analyzing information to align to business
strategy.
• Improve daily operations and tactical
decision making.
• Metrics are utilized for organizational
objectives and accountability.
• Metrics are used to measure organizational
performance.

5. The Market Research Function
• Data Mining and Predictive Analytics
• Special software to search through data to
find patterns.
• Data mining is also used to find
relationships that marketers do not see.
• Utilizing data to answer out of the ordinary
questions that the organization may not
have thought of.

6. The Market Research Process
• Conduct Exploratory Research
• Conduct discovery sessions with informed
sources to address a problem.
• Provides well rounded results when
monitored appropriately.
• This is used to measure how well the
organization performs on social media such
as Twitter, Facebook, Instagram, and
others.

7. The Market Research Process
• Interpret and Present Research Data
• Lastly to document research results and
present findings.
• Provides data for effective decision
making.
• Volume of data may present significant
issues during analysis.

8. Data Collection in the Marketing Process
• Secondary Data Collection
• The U.S. Government is the leading source
of marketing data.
• The U.S. Government census includes
housing, population, manufacturing, and
more.
• Online search engines may reduce
complexity in identifying secondary data
sources.

9. Primary Research Methods
• Observation Method
• This method is used to gain more
information about a market area.
• Observes the actions of the area they are
researching.
• For example, counting cars at a
potential business site, or documenting
license plates at a retail location.

10. Primary Research Methods
• Survey Methods
• Telephone interviews are utilized by
organizations to obtain small amounts of
data quickly.
• Precise questions provide the best results.
• Focus groups are effective when discussing
a specific topic.
• These groups usually discuss a given topic.