Online Web Research Services & Data Research, Data mining

Is there demand for my product or service? Are my customers satisfied with our service? How can I generate more sales volume from my existing customers? How can I improve the quality of my product or service? If there is something that you would like to know about your business and industry, marketing research is the way to start researching for some answers. Marketing research comprises one of the most important and fascinating facets of marketing. We are going to focus on sharing some Internet resources that can help you to conduct online marketing research. “Marketing research is defined as the systematic and objective identification, collection, analysis, dissemination, and use of information for the purpose of assisting management in decision making related to the identification and solution of problems (and opportunities) in marketing.”(Malhotra, 2004)

There are many ways in which the Internet can be useful to marketing researchers. It can be used as a source of marketing research providers, a source of secondary data, a source for marketing research software, and a source for data gathering via focus groups, surveys, etc.”(Malhotra, 2004)

Why do Market Research?

- It helps to understand current industry and market trends.
- Provides information about target customers.
- Identifies market and sales potential.
- Keeps researchers objectives.
- Becomes a framework for creating a marketing strategy.
- Helps business owners to examine customer satisfaction.
- Gives a close look at their competitors strengths and weaknesses.
- Helps marketing managers create benchmarks for future improvement.

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Is there demand for my product or service? Are my customers satisfied with our service? How can I generate more sales volume from my existing customers? How can I improve the quality of my product or service? If there is something that you would like to know about your business and industry, marketing research is the way to start researching for some answers. Marketing research comprises one of the most important and fascinating facets of marketing. We are going to focus on sharing some Internet resources that can help you to conduct online marketing research.

“Marketing research is defined as the systematic and objective identification, collection, analysis, dissemination, and use of information for the purpose of assisting management in decision making related to the identification and solution of problems (and opportunities) in marketing.”(Malhotra, 2004)

There are many ways in which the Internet can be useful to marketing researchers. It can be used as a source of marketing research providers, a source of secondary data, a source for marketing research software, and a source for data gathering via focus groups, surveys, etc.”(Malhotra, 2004)

Why do Market Research?

- It helps to understand current industry and market trends.
- Provides information about target customers.
- Identifies market and sales potential.
- Keeps researchers objectives.
- Becomes a framework for creating a marketing strategy.
- Helps business owners to examine customer satisfaction.
- Gives a close look at their competitors strengths and weaknesses.
- Helps marketing managers create benchmarks for future improvement.

There is perhaps no single best way to search the Web, but we recommend the following steps:

1. Pre-Searching Analysis: Think about the topic or subject you want to explore on the Web. Ask yourself some of the following questions, what unique keywords are associated with the topic or subject? Are there any organizations or associations that might have information on the subject through their web sites?

In order to identify trends for your topic or subject, you are going to have to put together a key word set to run in the search engines.

2. Run your key word set in any of the search engines.

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Web research refers to identification, compilation and analysis of information that is already available on the web. It helps in preliminary research as well as, continuous monitoring of the market providing inputs to strategic decision-making. The correctness of any decisions taken depends upon the accuracy of the outcomes of the research. Therefore, there should not be any compromise in the quality of the research.

The quality of the Web research depends upon the attributes that are distinct only to it.

Relevancy of data:
There is a vast amount of data online, which is relevant as well as irrelevant to our requirements. Most of the information found on Internet is outdated or irrelevant. Moreover, required information may not be available from a single source. Tiny bits of relevant data from different sources should be gathered and compiled together to derive useful information. Ultimately, it is the relevancy and applicability of the data that decides the effectiveness of the research.

Credibility of the source:
There are millions of websites on Internet today. Data can be gathered from internal sources of the client, publications of governmental and non-governmental institutions, free access data on the Internet, professional newspapers and magazines, in annual reports of companies and commercial databases. Many of them provide information or data that may be inaccurate. Credible sources should be identified to collect the data.

Expert analysis:
Analysis of information needs expertise and experience. Analyst divides a completely complex data into small parts and validates by crosschecking its accuracy from the other sources. Analysis involves segregating of the relevant data according to the users requirements. An expert analyst cross analyzing the market, customers and competitors provides useful insights.

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