Market research is an important tool for organisations of all kinds and sectors. This allows them to collect and evaluate information about their target market, rivals, and industry trends. They can then utilise this information to strategise their approach.

Market research will be more crucial than ever in 2023 as firms seek to remain competitive and capitalise on new possibilities. One of the market research industry trends we can witness is the rise of big market research firms and global data market research.

Big market research firms have the resources and skills to perform large-scale, sophisticated research projects that give businesses useful insights. They collect a wide range of data, including customer behaviour, industry trends, and competition analyses. They also analyse and evaluate data, giving firms actionable insights that can guide business choices.

This article examines why market research is vital for every business looking to stand out in 2023. We will also recommend the best market research agency. Continue reading to find out more.

What is Market Research?

Market research is the process of gathering and evaluating market information, such as consumer, competition, and industry trends. Market research aims to provide businesses with insights to help them make decisions and establish strategies. This might involve identifying new growth prospects, refining existing goods or services, and learning about consumer wants and preferences.

Primary research, which includes acquiring original data through methods like surveys and focus groups, and secondary research, which involves evaluating existing data from sources such as government reports and industry publications, are two forms of market research. Market research may be qualitative or quantitative, depending on the collected and processed data.

Market research is critical for all sizes and sectors because it gives useful insights that can be utilised to guide corporate choices and strategy. It also assists firms in staying up to date on industry trends and developments, allowing them to adapt and stay ahead of the competition.

With the advancement of digitisation, organisations now have access to many tools and techniques for data collection and analysis, making market research more effective and efficient than ever before.

Why Is Market Research Important for Your Business in 2023?

Identifying New Opportunities

Market research can be an effective tool for identifying new opportunities for businesses. One way it can do this is by helping companies identify untapped markets. By gathering and analysing consumer behaviour, industry trends, and the competitive landscape, businesses can identify new market segments or geographic regions that they may not have previously considered. This can include new demographic groups or emerging industries.

Market research can help businesses identify new opportunities by assisting them in identifying new products or services to offer. By understanding consumer needs and preferences, businesses can develop new products or services that meet those needs. This can include identifying new features or benefits customers are looking for or developing new products or services that fill a gap in the market.

Global data market research also significantly impacts the market research industry. With the growth of digitisation, businesses can gather and analyse data from all over the world. This gives businesses a much broader perspective, allowing them to identify new opportunities and stay ahead of the curve.

Furthermore, global market research enables businesses to understand consumer behaviour and preferences in different markets, which can be useful for companies that operate in multiple countries.

One example of companies that have used market research to identify new opportunities is Procter & Gamble. The company uses market research to identify new market segments and product opportunities.

In one instance, the company used market research to identify a new market opportunity in feminine hygiene products, which led to the development of the Always brand of feminine hygiene products.

Another example is McDonalds. The fast food giant uses market research to identify new market segments and product offerings, which led to them introducing a new line of premium burgers, salads, and other healthier options.

Improving Products And Services

Market research can also be an effective tool for businesses looking to improve existing products or services. By gathering and analysing consumer perceptions and feedback data, companies can identify areas where improvements can be made.

This can include identifying new features or benefits customers are looking for, addressing common complaints or issues, or improving a product’s overall design or packaging.

Businesses can gather this data by conducting primary research, such as surveys or focus groups, to gather customer feedback. Additionally, businesses can also use secondary research methods, such as analysing sales data or customer reviews, to identify patterns and trends in customer feedback.

Big market research companies can provide valuable support in this aspect by utilising their resources and expertise to conduct large-scale research projects that offer valuable insights for businesses.

They can gather a wide range of data, including information about consumer behaviour, industry trends, and competitive analysis. Additionally, they can analyse and interpret this data, providing businesses with actionable insights to inform business decisions.

One example of a company that has used market research to improve its products and services is Apple. The company uses market research to gather customer feedback and identify product improvement areas.

As a result of this research, Apple has made several improvements to its products over the years. These improvements include adding new features to the iPhone and iPad and improving the design of its laptops.

Another example is Coca-Cola. The beverage giant uses market research to gather feedback on its existing products and services, which led them to introduce new flavours, packaging, and product lines.

Understanding The Competition

Market research can also be an effective tool for businesses looking to understand their competitors. By gathering and analysing data on the competitive landscape, companies can identify the strengths and weaknesses of their competitors and make strategic decisions about pricing, marketing, and product development.

This can include identifying areas where the business can differentiate itself from its competitors or identifying opportunities to target niche markets that competitors may not be serving.

Businesses can gather this data by conducting primary research, such as surveys or interviews with industry experts, to gather information about competitors’ products, pricing, and marketing strategies.

Additionally, businesses can also use secondary research methods, such as analysing public financial reports or industry publications, to identify patterns and trends in the competitive landscape.

One example of a company that has used market research to gain a competitive edge is Uber. The company used market research to identify the strengths and weaknesses of its competitors in the ride-sharing market and used that information to develop new features and pricing strategies that set it apart from competitors.

Another example is Amazon, the e-commerce giant uses market research to understand their competitors. This led them to develop new features and services, such as the Amazon Prime subscription service, which sets them apart from competitors.

Staying Informed About Industry Trends

Market research is also useful for organisations that want to remain up-to-date on industry trends and developments. Businesses will detect market opportunities and dangers by acquiring and evaluating data on industry trends and developments.

Examples of this are finding new technology, getting global data market research or market trends that may influence the industry, or identifying shifts in consumer behaviour that may impact demand for a product or service.

Primary research, such as interviews or surveys with industry experts, can be used by businesses to collect information on market trends and developments. Secondary research approaches, such as reading industry publications or visiting trade exhibitions and conferences, can also be used by businesses to keep updated about industry trends and developments.

Netflix is one company that has employed market research to stay current on industry trends. They use market research to keep updated about developments in the entertainment and media sector, such as the rise of streaming services. Due to this global data market research, Netflix has been able to change its business strategy and stay ahead of the curve.

Another example is Tesla, the electric car maker employs market research to keep updated about developments in the automobile sector. As a result, they created new products and services, such as their electric semi-truck and solar panel offerings.

Determining The Target Audience

Market research is also useful for firms seeking to identify and comprehend their target audience. Businesses may determine the specific set of customers they wish to target by obtaining and evaluating data on consumer demographics, preferences, and pain concerns.

Identifying factors such as age, income, education level, and geographic location can be included. It can also entail knowing their target audience’s preferences and wants and identifying areas where they may be suffering pain points or discontent with current goods or services.

One way businesses can gather this data is by conducting primary research, such as surveys or focus groups, to get direct feedback from the potential target audience. Additionally, businesses can also use secondary research methods, such as analysing sales data or customer reviews, to identify patterns and trends in the target audience.

Big market research firms can provide valuable support in this aspect by utilising their resources and expertise to conduct large-scale global market research projects that offer valuable insights for businesses.

They can gather a wide range of data, including information about consumer behaviour, industry trends, and competitive analysis. Additionally, they can analyse and interpret this data, providing businesses with actionable insights that can inform business decisions and targeting strategies.

One example of a company that has used market research to determine its target audience is Nike. The company uses market research to identify and understand its target audience’s preferences and pain points, primarily athletes and fitness enthusiasts. As a result of this research, Nike has developed products and marketing campaigns that effectively target this audience.

Making Data-Driven Decisions

Market research provides businesses with data-driven insights that can be used to inform business strategies and decisions. By gathering and analysing data on consumer behaviour, industry trends, and the competitive landscape, businesses can make informed decisions about pricing, marketing, product development, and more.

This can include identifying new growth opportunities, improving existing products or services, understanding consumer needs and preferences, and understanding the competitive landscape.

One example of a company that has used market research to make data-driven decisions is Amazon. The company uses market research to gather data on customer behaviour and preferences, which it then uses to inform decisions about product development, pricing, and marketing.

As a result of this research, Amazon has been able to develop new products and features, such as Amazon Prime and the Amazon Echo, that effectively meet the needs of its customers.

The Best Global Data Market Research Firm

Insights Opinion is a leading global data market research firm that provides businesses with valuable insights to inform their decision-making and strategy development. The company specialises in primary research methods, such as surveys and focus groups, and secondary research methods, such as data mining and social media analytics

Insights Opinion has a team of experienced researchers, analysts, and industry experts who can gather and analyse data from all over the world, providing businesses with a broad perspective on the market.

One of the key differentiators of Insights Opinion is their ability to provide actionable insights that businesses can easily implement. They have a well-defined process that allows them to turn data into actionable insights, which enables businesses to make data-driven decisions. They also have a wide range of market research offerings that can be tailored to each client’s specific needs.

Insights Opinion has been involved in various market research projects across multiple industries and has a reputation for providing accurate and reliable data. They have worked with businesses of all sizes, from small startups to large multinational corporations, helping them to stay competitive and grow.

Conclusion

Market research is essential for businesses looking to identify new opportunities, improve existing products or services, understand the competition and stay informed about industry trends.

Insights Opinion is the best global data market research firm that provides businesses with valuable insights to inform their decision-making and strategy development. Their ability to provide a wide range of market research offerings and a reputation for providing accurate and reliable data makes them the perfect choice for businesses looking for high-quality market research services.

Entrepreneurs always seek ways to gain a competitive advantage in their respective markets. Market research is one of the most important tools to help them achieve this goal. However, not all market research is created equal.

A global data market research approach, which integrates various data sources, is essential for entrepreneurs who want a comprehensive understanding of their target market. This type of research is especially important in today’s globalised business environment.

In this article, we will explore the benefits of using a 360-degree market research approach, including using a qualitative research company and conducting a global consumer survey.

Also Read: What is Quantitative Research

What is 360 Degree Market Research?

It is a comprehensive method of gathering and analysing data from various sources and perspectives to understand a market, target audience, and competition. It helps entrepreneurs make informed decisions, identify new opportunities and mitigate risks.

Benefits of Using 360-degree Market Research

360-degree market research provides a complete and holistic view of the market, including its customers, competitors, and other key players. By using this method, businesses can gain a deeper understanding of their market and make more informed decisions about their products and services. Let’s discuss the benefits of 360 market research.

1. Understanding Your Target Market

A 360-degree market research approach is essential for understanding your target market comprehensively. One key aspect of this approach is survey programming and hosting.

By working with a professional quantitative market research company, entrepreneurs can ensure that their surveys are designed and hosted to the highest standards. This will ensure that the data collected is accurate and reliable, providing valuable insights into the target market.

In addition to survey programming and hosting, building an online community platform can also effectively gather feedback from your target market.

This platform allows entrepreneurs to engage with their target market on a deeper level and better understand their needs and preferences. By creating an online community, entrepreneurs can receive real-time feedback, which can be invaluable for making quick and informed decisions.

However, surveys and online communities are not the only ways to gather information. Qualitative research companies can also play a vital role in understanding the target market by conducting focus groups, interviews, and other techniques to gain insights into the target market.

This type of research can provide a more in-depth understanding of how consumers feel about a particular product or service. It can also help entrepreneurs identify new opportunities and make informed decisions.

2. Competitive Analysis

A 360-degree market research approach not only helps entrepreneurs gain a deeper understanding of their target market but also allows them to analyse their competition in a more comprehensive manner.

By considering factors such as market share, pricing strategies, and marketing tactics, entrepreneurs can identify their competitors’ strengths and weaknesses and develop strategies to gain a competitive advantage.

One important aspect of a competitive analysis is the use of data processing services. A professional business data processing company can help entrepreneurs process and analyse large amounts of data, providing valuable insights into the competitive landscape.

These services can include data cleaning, data analysis, data visualisation, and more. This can help entrepreneurs identify trends and patterns in the market, as well as potential growth opportunities.

Another important aspect of a competitive analysis is the use of professional translation services. In today’s globalised business environment, entrepreneurs need to be able to analyse data from different countries and cultures.

A professional translation company, such as a Translation Company in India, can help entrepreneurs translate and interpret data from different languages, providing valuable insights into the competitive landscape in foreign markets.

3. Identifying Opportunities

This approach not only helps entrepreneurs gain a deeper understanding of their target market and analyse their competition but also enables them to identify new opportunities in the market.

By considering various data sources and perspectives, entrepreneurs can identify untapped segments, emerging trends, and other opportunities that may not immediately appear.

One important aspect of identifying opportunities is the use of survey programming and hosting. By working with professional quantitative market research firms or survey programming and hosting companies, entrepreneurs can design and conduct surveys that gather valuable information about consumer needs and preferences.

This data can then be analysed to identify new opportunities in the market. For example, entrepreneurs may discover that there is a high demand for a particular type of product or service that they had not previously considered offering.

Another important aspect of identifying opportunities is the use of qualitative research. Qualitative research companies, such as focus group research firms or interview research firms, can provide entrepreneurs with in-depth information about consumer attitudes, beliefs, and behaviours.

This type of research can be especially valuable for identifying opportunities in niche markets or developing new products or services that meet specific consumer needs.

Additionally, entrepreneurs can gather information by conducting or participating in industry events, trade shows, and other similar events to get a sense of the latest trends and innovations in the market.

By keeping a pulse on the industry and being aware of new developments, entrepreneurs can identify new opportunities and capitalise on them.

4. Making Informed Decisions

One of the most important benefits of using a 360-degree market research approach is that it enables entrepreneurs to make more informed decisions. 

By considering various data sources and perspectives, entrepreneurs can gain a complete picture of the market and its various factors. This information can then be used to make strategic decisions about products, pricing, marketing, and other key aspects of their business.

One important aspect of making informed decisions is hiring global survey companies and capitalising on global consumer surveys. By working with a professional global survey company, entrepreneurs can gather valuable information about consumer needs and preferences worldwide. 

This data can be used to make informed decisions about product development, pricing, and marketing strategies.

Another important aspect of making informed decisions is the use of quantitative data analysis services. Entrepreneurs can handle and analyse enormous volumes of data by partnering with a competent quantitative data analysis services provider, delivering significant market insights.

These services can include data cleaning, data analysis, data visualisation, and more. This can help entrepreneurs identify trends and patterns in the market, as well as potential growth opportunities.

5. Measuring the Success of Marketing Strategies

One of the key benefits of using a 360-degree market research approach or a big market research company is the ability to measure the success of marketing strategies. This is particularly important for entrepreneurs who want to ensure that their marketing efforts effectively reach and resonate with their target market.

Using a 360-degree approach, entrepreneurs can gather data from multiple sources, including surveys, focus groups, social media analytics, and more, to evaluate the effectiveness of their marketing campaigns.

One important aspect of measuring marketing strategies’ success is using surveys. Global consumer surveys allow entrepreneurs to gather feedback from their target market about the effectiveness of their marketing campaigns. This feedback can be used to identify areas where improvements can be made and to adjust marketing strategies accordingly.

Another important aspect of measuring the success of marketing strategies is analytics. By analysing data from social media, website traffic, and other sources, entrepreneurs can gain insights into how their target market interacts with their marketing campaigns.

Entrepreneurs can use this information to identify areas where campaigns resonate with the target market and where they can make improvements.

6. Identifying Risk Factors

Entrepreneurship is risky, and identifying potential risks that may impact a business is an important aspect of this 360-degree approach. By considering various data sources and perspectives, entrepreneurs can identify potential risks that may not be immediately apparent and take necessary actions to mitigate them.

One important aspect of identifying risk factors is using quantitative data analysis services. By analysing data on industry trends, regulations, and competition, entrepreneurs can identify potential risks that may impact their business in the future.

For example, changes in regulations or new technologies may create challenges for the business and require the entrepreneur to adapt quickly.

Another important aspect of identifying risk factors is the use of scenario planning. Scenario planning is a technique used to identify and prepare for future events that may significantly impact the business. By considering different scenarios, entrepreneurs can anticipate and plan for potential risks and take necessary actions to mitigate them.

7. Identifying the Impact of External Factors

A 360-degree market research approach not only helps entrepreneurs to understand their target market and competition but also enables them to identify the impact of external factors, such as economic, political, and social factors, on their business.

Entrepreneurs will understand how these issues may harm their business and take the required steps to prevent them by examining multiple data sources and viewpoints.

One important aspect of identifying the impact of external factors is using a mystery shop agency. Mystery shop agencies can help entrepreneurs to understand how their business is being perceived by customers and identify areas for improvement.

They can provide valuable insights into customer service, product quality, and other factors that may be affected by external factors such as economic downturns or changes in consumer preferences.

Another important aspect of identifying the impact of external factors is the use of business data processing. By working with a professional business data processing company, entrepreneurs can process and analyse large amounts of data, providing valuable insights into the impact of external factors on their business.

This can help entrepreneurs identify trends and patterns in the market and potential growth opportunities.

Additionally, entrepreneurs can also use professional translation services to understand the impact of external factors in foreign markets. A professional translation company, such as a Translation Company in India, can help entrepreneurs translate and interpret data from different languages, providing valuable insights into the impact of external factors on their business in foreign markets.

8. Benchmarking

A 360-degree market research approach also allows entrepreneurs to benchmark their performance against competitors and industry leaders. By considering various data sources and perspectives, entrepreneurs can understand how their business is performing in relation to others in the market.

One important aspect of benchmarking is the use of industry analysis. By analyzing industry trends, regulations, and competition, entrepreneurs can identify areas where they are performing well and where they may need to improve. You can use this information to set goals and make strategic decisions to improve performance.

Another important aspect of benchmarking is the use of customer feedback. By gathering customer feedback, entrepreneurs can gain insights into how their customers perceive their business in relation to competitors. You can also use this information to identify areas for improvement and make necessary changes to improve performance.

The Best 360 Degree Market Research Platform

Insights Opinion is a leading 360-degree market research company that comprehensively understands your target market and competition. They offer a wide range of services, including survey programming and hosting, building online communities, data processing, translation, and more.

One of the key strengths of Insights Opinion is its ability to provide global data and insights. They work with professional global survey companies and conduct global consumer surveys to gather valuable information about consumer needs and preferences worldwide. They also offer professional translation services to help entrepreneurs understand the market and consumer needs in different languages and cultures.

Insights Opinion also offers powerful data processing and analysis services that allow entrepreneurs to process and analyse large amounts of data, providing valuable insights into the market. They use the latest technologies and techniques to provide accurate, reliable, and actionable insights to help entrepreneurs make informed decisions and grow their businesses.

Furthermore, they also provide qualitative research services to understand the target market in-depth. Their professional team conducts focus groups, interviews, and other techniques to gain insights into the target market and provide a more in-depth understanding of how consumers feel about a particular product or service.

Conclusion

A 360-degree market research approach is essential for entrepreneurs who want to understand their target market. It is also vital to those who wish to analyse their competition, identify new opportunities, identify risk and external factors, benchmark performance, and ultimately grow their business.

It is a comprehensive method that considers various data sources and perspectives to give an overall market view. Entrepreneurs should consider working with professional market research companies like Insights Opinion to help them implement a 360-degree approach and gain a competitive edge in their industry.

Qualitative data analysis is done with the help of analytical tools to extract meaning from large volumes of non-numeric data, including images, reports, audio, and video. It’s used in researches and other areas of the business where the client behaviour needs to be understood at a deeper level to meet their expectations.

Businesses mostly like to work on the qualitative research platform as it is frequently thought as more human-friendly than quantitative data, which enables them to identify potential for product expansion and improve customer acquisition and retention techniques. The techniques used in qualitative data research can help researchers draw insights from the data, identify trends, and better understand the dynamics of the data. These insights help the businesses make an informed decision that is purely client-centric.

Despite some of the stark differences between qualitative and quantitative analysis, a lot of people get confused between the two. However, the two are used for research purposes, but the difference lies in data collection and reporting.

Quantitative Data Analysis vs. Qualitative Data Analysis

Quantitative Data Analysis vs. Qualitative Data Analysis

As the name suggests, quantitative data works on the quantity and analysing numerical data (present in the form of graphs, tables, or charts) to find patterns and trends is known as quantitative data analysis. In order to systematically measure variables and report the collected data in the numerical form, quantitative research uses numbers and statistics.

On the other hand, qualitative data analysis is the process of analysing and extracting insights based on non-numerical or textual data. In contrary to quantitative data which is easy and straightforward to interpret, qualitative data is generally more “open-ended” and might be challenging to interpret and present.

Quantitative data cannot offer insights that qualitative data can. For instance, qualitative data can help you understand why the client wants a particular product and what drives their buying decision.

Now that you have understood the difference between qualitative and quantitative data analysis, let’s discuss the ways of qualitative content analysis. There are two ways of qualitative data analysis, manually and automatic. Both yield the same result but have different approaches.

Qualitative Analysis Quantitative analysis
Analyses the ‘why’ of a certain phenomenon Analyses the ‘how much’ of a certain phenomenon
More about the non-statistical data More about the quantifiable data
Data is about the non measurable things like color, gender, nationality, region and more. Data is about the measurable quantities like length, depth, number and more
The results are not presented in numbers as they are not measurable The results are depicted through graphs, tables, charts and more.
Interprets and understands social interactions based on studies Test hypothesis and predicts the future
Research methodology is exploratory Research methodology is conclusive

Let’s first learn about the methods of qualitative data analysis

Methods of Qualitative Data Analysis

There are 5 main methods of qualitative data analysis

1. Qualitative Content Analysis

A systematic study of a content to derive particular characteristics or trends is known as content analysis. This might from an interviw over the phone, survey reports, or feedbacks from clients. Since content analysis is a faster and simpler, anyone with a solid comprehension of the data can do it.

The insights taken from the content analysis are also easier to understand and comprehend.

2. Narrative Analysis

Analysing and interpreting the customer’s or research participant observation when narrated by them, are all part of using narrative analysis to analyse qualitative data. Customer interviews or testimonies can be used to gather the data.

By using narrative analysis, product managers may better understand how customers feel about their products, find gaps in the supply and demand, look for recurring patterns in their behaviour, and change or better the in-app experiences they receive.

3. Grounded Theory Analysis

It is well-knonw methodology employed in various research studies. Qualitative researchers analyse and construct the data based on the real world theories. It is based on the particular process that seeks to comprehend how customers engage with their goods. Additionally, it can be used to come up with predictions for future consumer behaviour.

4. Thematic analysis

A popular technique for analysing qualitative data that reveals patterns and themes in the data is thematic analysis. It is a method for analyzing qualitative data obtained through study of a data set to discover, analyze, and report repeated patterns. In order to do a thematic analysis, the data must be coded, or given themes or categories. Hence the term, thematic analysis.

5. Discourse Analysis

It is about understanding the language more than just a sentence and how people speak with one another to understand how it functions in a social context. It can be used to analyse both spoken and written language. Discourse analysis is a great tool to understand how customers discuss their products online.

Analysing Qualitative Data Manually

There are five steps involved in manual qualitative data analysis:

1. Get Your Data Ready

Before beginning with the research, it is vital to gather the notes, documents, and other resources that can give you a headstart. Mark the source of the data, any data point you may have collected, or any other information that will help you examine your data.

Since it is a manual research, majority of businesses get their data from traditional data collection techniques such as discussion groups, focus groups, questionnaires, and interviews. Usually, databases,, CRMs, and papers are used to hold this data. Based on the breadth of your research, it’s important to consider which data is actually available and should be used.

2. Organise and Investigate the Data

To understand what is there in your data, you will need to read it to make notes about your ideas, questions, and opinions. This can be stored in excel spreadsheets that are typically shared by the research teams. Because each team gathers and arranges the data in a manner that works best for them, the feedback is frequently kept separately.

3. Produce the Codes

Use anything that will help you make a connection with your facts, such as highlighters, sticky notes, or comments in the margins. Here is how you can do it manually

  • To gain a general understanding of what the data reveals, read it more than once. It’s time to begin putting your first set of codes on statements and text chunks.
  • Ensure that everything once it has been coded and there are no discrepancies neither the data is missing.
  • For your codes, make a code frame to organise all your codes.
  • By collecting the data, you might observe the recurring patters in your feedback data based on the frequency of a specific code.

4. Review the Codes and Find Valuable Insights

Determine recurrent topics, viewpoints, and beliefs. It is better to have sub-codes for your principal codes at this point as massive coding can be confusing. This will enhance the calibre of your analysis even though it takes time.

Customers are segmented by several businesses into age, demography, behaviour, and more. Additionally, you might already have your own respondent groups that you can use in your qualitative analysis. Observing the frequency of codes within your segments is especially helpful. It can be helpful to focus elsewhere if one of your customer segments is undervalued by your company but accounts for the majority of customer care issues.

5. Deliver Reports In a Logical Order

In order to best convey the story of your statistics, take into account your audience, the goal of the study, and the appropriate content to present. Condense these findings into a series of graphs, tables, and other graphics to represent them better.

Also Read: 5 Market Research Tools for Precise and Qualitative Data

Analysing Qualitative data: Automatic

Unlike the manual data analysis, automatic data analysis through software is easy, faster and produces error-free results. Let’s take a look at qualitative data analysis using software:

1. Gather Qualitative Data

The majority of businesses have now eployed in Slack chats, emails, chatbots, support ticketing systems which give the businesses additional benefits to get customer feedback while also enabling the mass collection of unstructured feedback data. Social media platforms like Twitter and Facebook along with online communities, review sites, and forums also offer useful qualitative data.

2. Organise All your Data

Earlier, developers popularised CAQDAS software, which researchers quickly got used to with the coding and organisation of data. Qualitative data is loaded into CAQDAS software for coding.


Software for computer-assisted qualitative data analysis has the following advantages:

  • Allows you to investigate several interpretations of your data analysis
  • Helps with the organisation of your data
  • Facilitates group cooperation
  • Makes it easier to share your dataset

3. Coding the Data

Several software options can facilitate boost this procedure. Here are some exampes.

CAQDAS – This software includes built-in capability that enables text coding within the programme. Thee software’s UI makes managing codes simpler than using a spreadsheet.

Dovetail: Transcripts and other textual data can be tagged using Dovetail. It is easier to maintain the coding on a single platform because they are also repositories.

Ascribe – The software has a code management system called “Coder.” Managing your codes is simpler because of its user interface.

4. Analysing the Data

The automatic extraction of codes and subcodes from the data is made possible by automated text analytics tools. It is easy to figure out what’s causing either negative or positive results quicker and simpler with this tool. It can also help in identifying new trends and uncover insightful information in the data.

The built-in sentiment analysis feature of AI-driven text analytics software offers the emotional context for your feedback and other qualitative data, which is an additional advantage.

5. Reporting the data

Platforms for feedback analytics include visualisation capabilities that makes it easy-to-understand the graphs of important data and insights. Automatic construction of these graphs of charts frees up time to concentrate on developing an engaging narrative that highlights the insights for executive teams to examine.

Also Read: Ways to Conduct Primary Research

Get Qualitative Data Analysis By the Research Experts

Qualitative data analysis can assist in capturing shifting attitudes within a target group, such as the views of customers of a good or service or workers in a workplace. The best way for understanding or explaining the behaviours, intentions, and characteristics of a particular group of people is qualitative research.

Our data collecting specialists, who work for a reputable qualitative research organisation, are situated in important research markets for the gathering of local data, which, when combined with the top-notch research facility, ensures success.

As a renowned qualitative research company, our research is backed 4 million+ panellists who use a consulting approach to assure your success in any nation if you are aiming for the global market. Because of our affiliation with international strategic partners, you will only have one point of contact for the entire project.

With the help of first-rate online qualitative research platforms and project management, we provide the best outlook regardless of whether you are a major market player or a start-up, or whether you need a comprehensive solution or limited insight. Connect with us to explore more about how our qualitative research can help in the growth of your business.