Today’s businesses see market data as a commodity. Readily accessible information about consumer activity and preferences allows market researchers to develop large data sets to mine for consumer insights.
And indeed, a look through recent market research industry publications shows that discussions in the field have been dominated by a focus on data analysis. But more often than not, insight into what customers really care about is hampered by the quality of the data being collected. Some market researchers conflate the idea of data quality with sample size, with the belief that reliability, validity, and other characteristics of “good measurement” derive solely from the amount of data collected. This is certainly not the case.
Author: Ken Faro and Elie Ohana