HOW TO RESEARCH

How to Research



How to research

Through descriptive research, distinctions in data sets can be identified. The purpose of the study is to answer the objectives, and set the framework upon with a sound business decision can be made. Descriptive studies are aided by existing data, and as a significant amount of data is available for customers, suppliers, and competitors, that requirement is easily met. (Redmond 2000) The secondary data can be examined in great detail through data mining to determine areas of opportunity. Primary data can then be collected to confirm initial findings, eliminate much of the guesswork involved, and establish more reliable forecasts. It is a commonly used primary research method. With questions produced in a standardized structure, interviewer bias can be minimized. Also, it enables the researcher to easily record data, make comparisons and interpret information in order to generate an overall analysis of the research topic. Compared to domestic research, the challenge presented in international projects would be greater. They include issues of heritage, facts and figures accessibility, social and economic statuss. It is understood that the costs and efforts of keeping an existing customer are far less than those of acquiring a new customer. With the research accurately pinpointing the nuance in the relationship between customer satisfaction with service and customer retention, managers can increase their focus on customer satisfaction. As shown, a well-planned business research involves gathering data from multiple sources through multiple data collection methods. Using the statistical techniques discussed here, a manager can reduce the unexpected, and potentially costly variances when making business decisions. By decreasing the amount of doubt, better deductions can be drawn that will minimize risk and maximize profit gain. All the benefitsjustify that a research project is worth investing in. Survey-based lesser facts and figures mention generally ...