Contents
How to find the right data
Meet Rob
- Name: Rob
- Position: Product manager
- Company:Â consumer goods company
His story
Rob, the product manager of a large consumer goods company has a ground-breaking idea for a new product.Â
It requires cutting-edge technology and expertise that the company does not possess.
Knowing that the project’s success depended on having the right market data, he was feeling overwhelmed and uncertain about how to find it.
He knew within his company there were people more knowledgeable than him in this area and wondered how he could get the help he needed.
He decided to reach out to colleagues who might know about the latest technology for market research.
After talking with several people, Rob was directed to a relatively new hire, Anna, who specialized in data analytics.
Anna excitedly took on the challenge and began researching both existing and new market data technologies that Rob could use for his project.
She also suggested ways of finding new insights from existing data sources as well as ways of integrating both internal and external data sources.
Rob was impressed with Anna’s knowledge and enthusiasm for her work.
She had been able to provide him with different alternatives for accurately obtaining the right information needed for the project.
In the end, Rob hired Anna to help him with his project and she did an excellent job at it.
Follow our series of blogs where we are going to unravel how Rob managed to implement cutting-edge marketing technology.
In this blog, we'll explore the ways to find the right data for an innovative marketing project.
Finding accurate data to make your case for a strategic decision
Finding data that is accurate to make a case for a strategic decision can be difficult for several reasons:
Data is scattered
Data can be spread out across multiple sources, making it difficult to locate and gather. This can include data within the company, as well as external data sources.
Data quality issues
Even if data is available, it may not be accurate or up-to-date. Data quality issues can arise due to errors in data entry, incomplete data, or inconsistencies in data across different sources.
Limited access to data
Some data may be sensitive or confidential, and access to it may be restricted to a select few individuals within the organization.
Bias in data
Data can be influenced by factors such as the methodology used to collect it, or the source of the data. This can result in bias in the data, which can impact the accuracy of the insights drawn from it.
The complexity of the analysis
Even when data is available and accurate, analyzing it can be complex and time-consuming. Advanced data analysis techniques may require specialized skills or software, and may be difficult to interpret for those who are not familiar with data analysis.
Conclusion
Working with experts in data analysis can help to ensure that accurate insights are drawn from the data and that decisions are based on sound evidence.
