BUS 300 Lecture Notes - Lecture 7: Trend Analysis, Data Mining, Customer Relationship Management
Document Summary
The use of secondary data has exploded with the advent of large-scale electronic information sources and the web. Nielsen claritas collects and integrates business related data from difference sources. Data gathered and recorded by someone else prior to and for a purpose other than the current project. Faster and less expensive than acquiring primary data. The process of changing the original form of the data to a format suitable to achieve the research objective: also called data transformation. The comparison of data from one source with data from another source to determine the similarity of independent projects. Identification of consumer behaviour for a product category. Trend analysis: market tracking- the observation and analysis of trends in industry volume and brand share over time. Environmental scanning: information gathering and fact-finding that is designed to detect indications of environmental changes in their initial stages of development. Secondary data for calculating an index of retail saturation.
