Understand the role of research in running a business.
In almost any business endeavor, information is invaluable. Effective research provides vital information to guide an organization successfully. In BUS 631 Data-Driven Decision-Making I, you’ll focus on the fundamentals of marketing research and understand how data is used to inform strategy.
There are two types of marketing research: Problem identification and problem-solving. Problem identification research helps forecast challenges or risks that may not be apparent on the surface but could arise; market potential, image, and market characteristics are some examples of this. Problem-solving research helps overcome specific marketing problems and includes product, pricing, and distribution research.
You’ll examine the role of research in running a business and consider how design research meets your organization’s needs. Secondary research — data gleaned from existing sources — can also be a valuable resource. You’ll understand how it differs and interacts with primary data you collect through a research tool.
Qualitative research focuses more on questions of how and why, while quantitative research employs statistical, mathematical, or computational techniques. By understanding each of these methods, you’ll be able to determine which is appropriate for different scenarios.
Throughout this course, you’ll use experimental data to make predictions based on variable conditions. You’ll explore the use of experimental and non-experimental designs in marketing research and consider how measurement and scaling affect reliability and validity.
Among the most common tools used for primary research is the questionnaire. You’ll examine questionnaire design from a variety of angles, including the use of social media and the challenges of ethics. Sampling design helps you determine your target population, sample size, technique and more. You’ll become well-versed in how this important process will guide your research efforts.
Throughout this course, you’ll focus on core topics or themes.
- Introduction to marketing research
- Defining the marketing research problem
- Research design, secondary and syndicated data
- Qualitative research
- Survey and observation
- Experimentation and causal research
- Measurement and scaling
- Questionnaire and form design
- Sampling design and procedures
You’ll explore some of the issues involved in research with human subjects by completing the National Institutes of Health’s (NIH) Protecting Human Research Participants training module. This exercise will introduce you to key ethical issues related to human-based research.
In BUS 631, you’ll learn various methodologies used to make research-based decisions in the business environment.
- Understand the basic principles of social science research.
- Understand the difference between quantitative and qualitative research.
- Recognize the advantages and limitations of various methodologies.
- Recognize the ethical issues in the research process.
- Apply the methods of design, data collection and measurement.
- Demonstrate the ability to write about research in the business setting.