An organization that has great strength in exploring enough data often has better marketing analysis platform. Indeed all the time that a business creates a marketing plan one of the things that marketing managers dizzy about is the source of data. As marketing is designed to minimize the level of risk in an organization much of the efforts have been placed in closing the gap between businesses and the customers since there are the sources of information and data (Torok, 2011).
Organizations with enough data are able to handle critical business objectives and goals for the future betterment of the organization. The big data foundation makes it possible to get and use information from different and various sources. Dissemination of information will be easy thought the organization if the data is enough. The data is important to an organization since it helps in making decisions. Marketing department of an organization makes use of this data to determine the market preference of the clients/ customers (Torok, 2011).Want an expert to write a paper for you Talk to an operator now
In the beginning, my perception on marketing research was that it only played the role of determining the type of product to offer the customers, but this perception is all gone since it has been noted that marketing research not only works with the preference of the client but also it determines the level of competition existing in the market, and the marketing trend (Clatos, 202). It also influences the decisions for determining the type of capital investment to make on each project undertaken. In addition, I come to know that marketing research also provides consumer feedback. Marketing research is also important since it makes the business able to meet the demands of the customers as well as outperform the competitors.
Since data management is an important tool in marketing it can be of much importance that the data is collected and but in the proper use (Reisk, 2009). All the unused data should be placed in the proper use like;
I. Helping in decision making to determine the future of the organization
II. The data can be used in evaluating the role played by competitors in the market. For example, the level of competition in the market is used to determine the elasticity of demand.
III. The data unused can also be used in determining the kind of market trends that are exist in the market.
IV. The data should be incorporated in measuring the rate of investment the organization is in and the capital investment to bring to the business.