Research work 🤓
Starting at
$
20
/hrAbout this service
Summary
Conducting research is a pivotal step in any business endeavour. Business research is a process of acquiring detailed information of all the areas of business and using such information in maximizing the sales and profit of the business. Such a study helps companies determine which product/service is most profitable or in demand.
The advantages of business research 🤩:
Business research helps to identify opportunities and threats.
It helps identify problems and using this information, wise decisions can be made to tackle the issue appropriately.
It helps to understand customers better and hence can be useful to communicate better with the customers or stakeholders.
Risks and uncertainties can be minimized by conducting business research in advance.
Business research can enable a company to make wise decisions as to where to spend and how much.
Business research helps to measure reputation
Business research can be done for anything and everything. In general, when people speak about business research it means asking research questions to know where the money can be spent to increase sales, profits or market share. Such research is critical to make wise and informed decisions.
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1. Survey research + analysis 🤓
Survey research is one of the most widely used methods to gather data especially for conducting business research. Surveys involve asking various survey questions to a set of audiences through various types like online polls, online surveys, questionnaires, etc. Nowadays, most of the major corporations use this method to gather data and use it to understand the market and make appropriate business decisions. Various types of surveys like cross-sectional surveys which are needed to collect data from a set of audience at a given point of time or longitudinal surveys which are needed to collect data from a set of audience across various time duration in order understand changes in the respondents’ behavior are used to conduct survey research.
2. Correlational research + analysis 🤓
is conducted to understand the relationship between two entities and what impact each one of them has on the other. Using mathematical analysis methods, correlational research enables the researcher to correlate two or more variables. Such research can help understand patterns, relationships, trends, etc.
3. Literature research 🤓
is one of the oldest methods available. It is very economical and a lot of information can be gathered using such research. Online research or literature research involves gathering information from existing documents and studies which can be available at Libraries, annual reports, etc. Such research is used mostly by marketing and salespeople in the business sector to understand the market or their customers.
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