Research Topics:

Quantitative Research | Store Audits

Industry/Market Focus:

Retailing

Content Type:

Glossary

Audit Definition

The examination and verification of the sale of a product. A method for measuring sales in a store by counting beginning inventory, adding new shipments and subtracting ending inventory. Also used to determine inventory lost to theft. Sometimes called a wholesale audit, store audit or retail audit.

When it comes to marketing research, an audit is a systematic examination and evaluation of data, processes and methods used in research studies. Auditing helps ensure the integrity and credibility of studies by investigating the aspects of the study, such as data collection, analysis, accuracy, reliability and adherence to industry standards. The scrutiny improves the transparency, accountability and trust in research processes and findings. So, the audit leads to better outcomes in methodology and insight.

Who relies on an audit?

Audits are critical for the accuracy and credibility of the work performed by various stakeholders within market research, including businesses, market research firms, regulatory bodies and organizations aiming to make data-driven decisions. What’s more, clients and investors also rely on audit reports to determine the credibility and integrity of research findings.

Why should I care about an audit?

Audits ensure the quality and validity of research insights you obtain. They pinpoint potential biases, errors or inconsistencies that could impact the accuracy of research results. It’s fair to say that audited research enables entities to make more informed decisions and investments, minimize risks and avoid strategies based on flawed or misleading data.