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Indicator 3.05

Indicator 3.05. Interpret marketing information to test hypotheses and/or to resolve issues. Need for physical inspection of paper-based marketing data. If errors are caught early, they can be corrected. Standardizations and continuity

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Indicator 3.05

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  1. Indicator 3.05 Interpret marketing information to test hypotheses and/or to resolve issues.

  2. Need for physical inspection of paper-based marketing data • If errors are caught early, they can be corrected. • Standardizations and continuity • Missing values/nonuniform data entry which means changing the value or formula of the response codes.

  3. Questions to ask when screening initial data

  4. Actions that can be taken with incomplete records • Cleanse the data which includes dropping problematic data.

  5. Reasons for data entry errors that limit the use of marketing research data • Wrong entry • Failure of data entry technology

  6. Reasons that questionable entries are found in raw marketing research data • Honesty

  7. Role of coding in processing marketing data • Procedure converts the edited raw data into numbers or symbols • Code book is created

  8. Generally accepted coding principles

  9. Importance of editing coded information

  10. Data-entry options

  11. Paper-based marketing information vs. computer-based marketing information • Computer based software saves time and money. • The programs have error checking built in to prevent common errors. • The availability of the item bank makes it easier to build questionnaires.

  12. Importance of using a codebook to describe data and to indicate where and how they can be accessed • Shows each question in the questionnaire • Shows the variable nameand label • Shows the variable type, values and value lables.

  13. Vocabulary • Descriptive statistics • Mean • Medium • Mode • Range • Standard deviation • skewed

  14. Objectives of using descriptive statistics to interpret data • To summarize a data set rather than use the data to learn about the population that the data are thought to represent. • Provides simple summaries about the sample and the measures. • Summarizes data

  15. Advantages and disadvantages of using the mean, median, and mode as measures of central tendency • A disadvantage of the median is the difficulty of handling it.

  16. When to use the mean, median, and mode • Mean - range/intervals/ratio • Median – Ranking/Ordinal Scale • Mode – Response question/nominal

  17. Importance of using the median when working with skewed distributions • The median can be used as a measure of location when a distribution is skewed, when end-values are not known, or when one requires reduced importance to be attached because of measurement errors.

  18. Use of the standard deviation in data analysis

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