Throughout life we learn lessons almost every day. Within Market Research we can find the same situation. In our segment, analysts face challenges and obstacles that test both their knowledge and ingenuity. This is not an exaggeration. Understanding people’s and brands’ decisions is traversed by a myriad of aspects that hold a degree of complexity and demand a great deal of attention to detail.
Despite the technology and computer-based tools that are now available, much of the day-to-day work that researchers do requires skills and experience that are gained in the field. Our ongoing practice provides us with valuable lessons that we must review from time to time to keep our performance up to recognized standards. For this reason, we list four lessons that are worth remembering at all times.
Randomness. As we have pointed out in other posts in this blog, a fundamental principle of a market study based on quantitative methods comes from Statistics. This tells us that, since it is impossible to take a census where it is possible to collect the attributes of all the individuals that make up a population, it must be ensured that all the people who provide data representing their universe have the same probabilities of being selected. In this way the sample collected will be truly representative of the whole.
Sample size. In line with the previous point, we must understand that the number of informants should not be taken lightly. There are bases that indicate the ideal size of the segments to work on and that are defined based on the objectives of our studies and those of the population we want to know in depth. Although time and money considerations also play a role, the recommendations of the operations team should be prioritized so that the results of the fieldwork are effective and profitable.
Right questions. We take it for granted that we know how to collect the data and information we need until we come across evidence to the contrary based on reality. Asking the right questions is a skill that requires in-depth knowledge of the people we want to contact, qualitative methods from the social sciences, and argumentation. Otherwise, we may fall into areas of opportunity such as inducing answers or confusing the informant.
Atypical data. Despite the best questionnaires, we may encounter borderline situations in which people give unexpected answers. In quantitative studies we may encounter codes such as “does not apply”, “does not know” or “do not know”; in other cases in the form of figures that are equal to zero or that have a scandalous standard deviation. In qualitative studies the unusual responses can be deepened thanks to the intervention of the analysts. In any case, these entries tell us something and we must know how to interpret and manage them to our advantage.
We find the most valuable lessons in our day-to-day work. Perhaps this is why many people who engage in Market Research find the discipline so fascinating. Every day there is a new learning waiting for us. Add a curious and inquiring mind to the formula and you have a winning combination. If you are looking to reduce uncertainty in your brand’s strategic decision making, count on the agencies and companies in our industry.
In Acertiva we are convinced of this reality and that is why we have integrated enthusiastic analysts with attention to detail to our team to solve your needs in this area. We offer you our more than two decades of experience developing customized projects in LATAM. Contact us right now and ask for your free consultation. Then we can make your next success story a reality.
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