In step three of marketing research (analyze the data: use statistical

QUESTION

In step three of marketing research (analyze the data: use statistical tools to determine the facts), what might a company have to do with the data it has collected?

What will be an ideal response?

ANSWER

Answer: A company may need to edit data, or check it over to eliminate mistakes. The company may also need to apply data analysis, or subject the data to statistical tools to determine its significance.
Explanation: Once data has been gathered, marketing researchers need to consider whether it needs to be treated further to make it useful. It may need editing, or checking over to eliminate mistakes. It may require the application of data analysis, subjected to statistical tools to determine its significance.