Research Topics:

Data Analysis | Marketing Research-General | The Business of Research

Content Type:

Glossary

Data Definition

In the realm of marketing research, data is the collected mass of information, facts and statistics that relate to consumer behavior, market trends and other relevant variables.

Data in the realm of marketing research is the collection of information, facts and statistics that relate to consumer behavior, market trends and other relevant variables. Simply put, data is a collection of observations. Data can be quantitative, such as numbers and measurements, or qualitative, such as descriptive information. In the world of marketing, data is used to gain insights into customer preferences, market dynamics and the effectiveness of marketing strategies. Data provides concrete evidence about consumer behavior, preferences and market trends, which helps businesses establish strategies, build audiences and use resources.

Who relies on data?

Data is the backbone of market research. Findings are used extensively in the business and marketing world, including by marketing teams, product managers, brand strategists and business analysts. For example, executives and decision makers rely on data to mark choices about product development, target audiences and resource allocation.

Why should I care about data?

Understanding findings and insights developed from the data collection measures allows businesses to fine-tune their strategies, target the correct audiences, allocate budgets effectively and determine the success and failure of their initiatives. Without data, decisions are often based on intuition, which leads to unwise resource allocation and missed opportunities.