Online | 8 weeks | 1.5 Credit Hours
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.