The task of market analysts has several facets. Among these we can find the review of documents since it provides multiple findings that other techniques cannot cover. Possibly the review of primary sources is the basis of any study outside and within our segment. The difficulty of this task lies in the fact that resources and skills are needed to carry it out in the most effective way.
There are multiple original sources that we can use to achieve our objectives. Choosing between one or another document depends on several factors, among which we find the validity of its content, intrinsic characteristics and temporal relevance. On this occasion, we list four primary sources that are most consulted by researchers in our sector.
Censuses. What characteristics consumers have is one of the questions that have the most value for brands and companies. Data such as age, gender, income, educational level and number of people in a particular territory allow segmenting the populations of interest. Many governments have Technical Organizations such as the IBGE in Brazil and the INEGI in Mexico that collect and disseminate data and information of this nature. Marketing researchers know about this and are recurring users of these modules.
Journals. The Market is made up of a multitude of specialty areas. For this reason, it is not strange that there are Associations or Chambers Specialized in various activities. Among its purposes is to offer periodic publications with reports and articles on topics of interest to its members. Through their magazines or yearbooks it is possible to find valuable clues for making important decisions.
Maps. Some of the items that cannot be missing in scenes where decision-making personalities are present are maps and globes. These primary sources demonstrate the great role that georeferenced data has for managers and bosses. Nowadays we can find printed and digital charts that allow us to consult the status of a given space at a given time.
News. Reading the newspaper is a rewarding activity in more ways than one. Although printed newspapers are currently in clear retreat, news sources continue to exist due to the important function they have. They can be general or specialty like other sources reviewed in this blog post. Selecting the relevant notes and extracting the most relevant from them is an operation with great value for clients and analysts.
The sources described above are just a few of many that are available. The skill to correctly contrast between them is essential to reduce uncertainty. In the era of Big Data, the ability to choose little data, but with the greatest validity to meet the proposed goals, begins to gain importance once again. Next week we will add four more sources worth knowing about.
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