3.4.4 Step 4: Interpreting the data
Data analysis is the process of organising and interpreting the information that has been gathered in such a way that it is easily grasped and can be acted upon.
The process does not end there; once the recommendations of the original research report are acted upon, further research is needed to assess its impact. Unfortunately, many recommendations are not acted upon, or if they are, no follow-up studies are done. Raw data is of no use to anyone; it has to be analysed so that it becomes information that assists marketing decision-makers.
There are many statistical techniques for analysing data, and many are now available as convenient computer packages. For this course you do not need to know how to use them. It is important to remember, in fact, that no matter how skilled an analyst you are, your analysis cannot compensate for poorly collected data. Remember the adage ¾ garbage in equals garbage out.
Once the statistical package provides the relevant tables, percentages and correlation, the marketing researcher/manager has to interpret them in terms of the implications for marketing the product or service.