Qualitative vs. Quantitative Market Data Collection
You generally need both qualitative and quantitative market data for a well-executed project.
As the above graphic illustrates, qualitative data includes interviews, exploratory groups, and observations. However, this data is subjective. By just using qualitative data, you risk generalizing results. Quantitative data, by contrast, is testable and validated. It includes surveys and big data analysis. By combining qualitative and quantitative data, you gain human factor insights by bridging traditional market data information sources.
The Breakthrough Innovation Hub™
With the Breakthrough Innovation Hub™, market data becomes information, and that information becomes responsive in our clients’ hands. The Breakthrough Innovation Hub™ is a shareable analytic tool that enables our clients to slice and dice data to get answers—answers from strategic and tactic questions from interactive charts and graphs. It is highly automated, making statistical analysis easily accessible to the non-statistics marketer. It is a consistent means to explore “What if” scenarios, so you can examine whether and how you want to enhance the customer experience.
It is how your marketing mix becomes market-based.
Learn more about the Breakthrough Innovation Hub and how it might help your business.
