MKT 100 Lecture Notes - Lecture 4: Data Mining, Data Warehouse, Netflix

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Thomas Barbiero

Document Summary

Marketing research a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas. Research objectives are driven by business issues that companies want to examine & can use a variety of testing methods (exhibit 7. 2). Secondary data is data that has been collected prior to start of focal project. Primary data is data collected to address the specific research needs/ questions currently under investigation. Companies much choose a group of customers who represent the customers of interest, or a sample, and then generalize their opinions to describe all customers w/ same characteristics. Converting data to information (organized, categorized and useful for decision making). Making raw data useful for conclusions through examining, making graphs etc: present action plan how to effectively present results. The reports should use a style appropriate to the audience, be devoid of technical jargon, and include recommendations that managers can actually implement.