Data Analysis Training and Promotional Strategies

Research analysis implies to the study of a database obtained from a particular target market, meant to devise new, helpful and company friendly strategies. Market research analysis is way significant when it comes to the drawing out of promotional strategies that target to increase the sales and income of the concerned market.

Some of the data analysis methods are listed below, which add a lot to the summarization of data in to presentable and interpretable parameters:

Quantitative Market Research: It refers to the numerical data study based on the figures and facts of the sales’ level. For example, a retail outlet can ask its customers to give it a rating in accordance with the overall service it provides. This rating can then be recorded numerically and subjected to statistical analysis. Further more, an outlet can also track the number of its customers on daily basis, from which the gross increase or decrease in the rate of sales can be interpreted. Market survey is most probably the best technique of research and data evaluation. A face to face coordination with the consumers, or even through Emails or other media, is highly recommended by research analysis training workshops.

Customer satisfaction research: Yet another of the analysis methods, include customer satisfaction research, which involves different qualitative and quantitative surveys to observe the contentment of customers with a certain brand, product or service. Again, there could be a number of ways of doing it, which are specifically enumerated by data analysis training sessions. For instance, ‘mystery shopping’ could be one way of doing it, in which an employee of market research firm, pretending to be a customer, is sent to an outlet and then the whole shopping experience is required. This is essentially important for the quality control of services.

Commercial eye tracking research: One of the research analysis methods is commercial eye tracking, which embodies the study of advertisement factors that influence the consumers. This includes the kind of advertising and media publishing that is done for a product and how much effective it turns out. It may be recorded that which types of advertisement behaviors affect the customers most to make them buy the product. It is basically an analysis of the visual attitude of the costumer base. It also involves the brand name, how the customers see it and how does it help in driving more traffic in?

Test marketing: Another code of research emphasized by the Data analysis training is the test marketing. It basically involves launching of a product in small scale prior to its bulk launch. This is to examine the general behavior of the consumers towards a particular product or service and interpretation of the fact that whether it would help in increasing the gross income of the brand.

Ad-tracking: This is a very important parameter of data analysis, which involves periodic market surveys or researches to review the performance of a brand in market.