Use Multiple Data Sources
Using multiple data sources allows researchers to triangulate information, ensuring accurate and reliable insights. This approach is critical in validating assumptions, reducing risk, and ensuring market strategies align with consumer behavior.
Shannon Listopad, owner of November Consulting, emphasized that gathering data from multiple sources is essential to form a comprehensive view of the market. This means collecting information through surveys, focus groups, industry reports, social media, and more. “Get a comprehensive view of how your offering fits in the market dynamics, and always keep in mind the overarching goals of your business,” Shannon advised. It’s easy to become overwhelmed with data, so researchers must focus on synthesizing it to align with business goals.
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