Question

Explain in your own words whether the qualitative results generated by an SLCA could be useful to a business. Describe and explain 2 benefits and 2 drawbacks to the SLCA.

Answer 1

The qualitative results generated by an SLCA could be useful to a business.

Quanlitative results

Understand what customers think Qualitative results helps the market researchers to understand the mindset of their customers. The use of qualitative data gives businesses an insight into why a customer purchased a product.

Qualitative data is defined as the data that approximates and characterizes.

Qualitative data can be observed and recorded. This data type is non-numerical in nature. This type of data is collected through methods of observations, one-to-one interviews, conducting focus groups, and similar methods. Qualitative data in statistics is also known as categorical data /data that can be arranged categorically based on the attributes and properties of a thing or a phenomenon.

Importance of Qualitative Data results

Qualitative data is important in determining the particular frequency of traits or characteristics. It allows the statistician or the researchers to form parameters through which larger data sets can be observed. Qualitative data provides the means by which observers can quantify the world around them.

For a market researcher, collecting qualitative data helps in answering questions like, who their customers are, what issues or problems they are facing, and where do they need to focus their attention, so problems or issues are resolved.

Qualitative data is about the emotions or perceptions of people, what they feel. In quantitative data, these perceptions and emotions are documented. It helps the market researchers understand the language their consumers speak and deal with the problem effectively and efficiently.

Qualitative Data results Collection Methods- Types of Qualitative Data

Qualitative data results collection is exploratory; it involves in-depth analysis and research. Qualitative data collection methods are mainly focused on gaining insights, reasoning, and motivations; hence they go deeper in terms of research. Since the qualitative data cannot be measured, researchers prefer methods or data collection tools that are structured to a limited extent.

Here are the qualitative data results collection methods:

1. One-to-One Interviews

2. Focus groups

3. Record keeping

4. Process of observation

5. Longitudinal studies

6. Case studies:

Benifits of Qualitative Data

1. It helps in-depth analysis: Qualitative data collected provide the researchers with a detailed analysis of subject matters. While collecting qualitative data, the researchers tend to probe the participants and can gather ample information by asking the right kind of questions. From a series of questions and answers, the data that is collected is used to conclude.

2. Understand what customers think: Qualitative data helps the market researchers to understand the mindset of their customers. The use of qualitative data gives businesses an insight into why a customer purchased a product. Understanding customer language helps market research infer the data collected more systematically.

3. Rich data: Collected data can be used to conduct research in the future as well. Since the questions asked to collect qualitative data are open-ended questions, respondents are free to express their opinions, leading to more information.

Drawbacks of Qualitative Data

1. Time-consuming: As collecting qualitative data is more time consuming, fewer people are studying in comparison to collecting quantitative data. Unless time and budget allow, a smaller sample size is included.

2. Not easy to generalize: Since fewer people are studied, it is difficult to generalize the results of that population.

3.Dependent on the researcher’s skills: This type of data is collected through one-to-one interviews, observations, focus groups, etc. it relies on the researcher’s skills and experience to collect information from the sample.