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Six Different Types of Business Research to find Your Leads
Decision-making is a crucial aspect of any business venture. A business owner can make firmdecisions and stand by them, only when he is well aware of the surroundings of his marketplace.Along with the internal factors about your business, you also need to have completeunderstanding about the external factors affecting your products, services and overall business.Business research comes forward as the best solution to this dilemma. Business or industryanalysis is the systematic process of gathering all the relevant market data, which is thenorganized and analyzed to draw conclusions that are relevant to your industry. These reportscontain essential information about the market trends, segments, customer groups, demands,competitors and all the key players in the marketplace.
Basic Types of Market Research for Your Business Various business researchcompanies use different types of tools, techniques and methods for marketing analysis. These methods and types vastly depend on the particular requirements of the business owners and their research project. However, following are the basic types of industryanalysis that are commonly used by various study firms across the globe:


Quantitative Analysis
: This method deals with collecting all the objective and numericaldata from various resources. Various statistical models and formulas help the experts tocollect market data about the features. Questionnaire is the basic tool, which providesadequate information about customer behavior and their approach towards a particular product or company. Compiling complete statistical investigation is the basic aim of quantitative analysis. Hence, the questions are also in objective sorts that draw yes and noresponses from the customers chosen for the tests.


Qualitative Analysis
: Qualitative analysis is

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