Question

1. how to collect useful data online for analysis that will be relevant to a busness?

2. what type of incentive can a buseness offer to get people to respond to surveys truefully?

3. what are some ways that less well known companies can overcome trust issues when collecting data to gain insight?

4. pros and cons to sample size?

5. how does "level of confidence: affect sample size?

Answer 1

Answer 1.

There are 5 useful ways of collecting useful data online for analysis that will be relevant to business

• Indentify your target market
• Understand stregth and weaknesses of your competition
• Devlop a pricing strategy grounded in market research
• Research similar products
• Indentify the best placement or location for your product or services

answer 2.

Incentive can be in two main forms monetary or non monetary. Monetary incentives includes cash, cheques , gift cards , money orders and coupons.Non monetary incentives are basically are thank you gift like pen or notebook , but can also be things like brochure or charity donations.

When it comes to increasing response cash is king boosting survey response rates the most and non monetary incentives are not that effective when compared to monetary ones.The more better the thank you gift or the more money you offer , higher the response rate is .

Prepaid incentives are most effective in increasing response rates but this method is generally difficult to execute in online surveys. They tend to be more costly as you provide it to everyone .Promise incentives are much easier to execute since you can mail someone a gidt certificate afterwards or mail them a small thank you gift.

answer 3

Following ways -

• Analytical skills are concenterated in too few employees
• IT needs to spend more time on 'i' and less on 't'
• Try to get reliable information ,but it's hard to locate
• Business executive don't manage information as well as they manage talent capital and brand.

answer 4

pros to sample size

One benefit of sampling is the relatively low cost of gathering information. In addition, when sampling is done correctly, conclusions drawn from the sample have a scientifically-supported basis, and many courts recognize the validity of those results.

• Accepted by many courts
• Scientific basis , replicable
• Cost, accuracy known

cons to sample size

There are several reasons why sampling can be a limited tool for use in litigation. The results from a sample provide answers in terms of ranges of numbers. Conducting a sample and calculating these ranges can be a complex undertaking requiring careful explanation. Finally, sampling is not accepted in all legal contexts

• Not absolutely precise

answer 5

Level of confidence affect sample size in following ways

• confidence level intervals mostly tell you the range of unknown population average or percentage
• It provides both location and precision of measure
• confidence interval is equal to two margin of errors
• For rating scale data (like SUS and SEQ) use T- confidence interval method
• It can be computed on sample size as small or two