Outsourcing Web Research Services for Market and Business Intelligence
Published: Jan 4th, 2018
Web or internet is full of data or information for people to collect for free. Be it any topic, you just need to key in the details and pull out information on it. However, there is a huge volume of raw and unprocessed data available online, which needs to be organized and processed properly if it can be of any use.
At the same time, there are also irrelevant, incomplete or invalid data as well as fake news available, which will have to be analysed properly. Hence, DIY approach needs to be reconsidered, as you may need help from experts with skills and knowledge on market research.
All businesses require the most relevant, valid and updated information about the company, analysis of competitive companies, their goals, market trends, industry performance and so on to arrive at informed decisions about business growth.
How useful is free information from the web and why use paid market research services?
Whatever data is found online, is free for the public to use as they find appropriate. For step by step process on something or maybe to look up operations of a particular product, web would be the most appropriate place to search. However, even then you would need to validate and analyse various resource, before confirming on an accurate, relevant and valid one. If you are looking for accurate price of a product, it can also be available on reliable online stores or websites.
However, there are instances when the free information on the web may fail you. You may need to look for help from reliable service providers on market research services, in order to get information which is hard to determine or find. Search engines may have failed to collect it.
Below are given some scenarios when paid market research services can benefit:
To analyse market trends: Market trends are mainly happenings or outcomes predicted for what is likely to occur, supported by facts or why data. This call for subjective analysis and the opinions have to be collected from a verified or credible source. Outsourced market research services helps to give an accurate portrayal of the occurrence.
To estimate size of the market: The data collected from the manufacturer or data, or distributors/ sellers are properly analysed so that it can help to estimate the size of the market for a product or service. This calls for disciplined or well organized method or data, which is not available for free access online. The data will also need to be verified before it can be used. Meanwhile, free data offered online may lack the background information required to contextualize or authenticate it. Hence, the need for outsourced market research professionals.
To get proper details of market projections: A clear process and private data is required to arrive at correct market projections. They have to be extracted with the help of professionals. You would require precise market projects that are supported by verified relevant background and validity. If they are collected from unverified and irrelevant source, then the market projection could be askew. Hence, outsourced professionals will ensure reliable and verifiable observation of data.
To get a thorough customer feedback: If you run your business with the notion that amassing comments, reviews or customer opinion online involves complete customer feedback, then you need to rethink. You would need to do a proper analysis of the customers, their preferences, buying patterns, comments, suggestions, feedback, reviews etc., before arriving at any kind of informed decisions. Surveys, polls, online or not are mere weapons to collect the required information. At the same time, ensure which data has been collected via which medium before analysing it properly. This is where professional outsourcing partner for market research services can come in handy.
Key Takeaway: Thus, you can see here that you normally opt for professional web research services for market intelligence, when you are responsible to deliver relevant, accurate and valid facts or information, that help business to grow. Professional market research service providers help to generate accurate and timely intelligence or reports.