Market Research Conjoint Analysis Service

Conjoint Analysis is Statistical Analysis technique used in market research to determine how people value dissimilar features that make up an being product or service. Conjoint Analysis presents conception to respondents. However, instead of giving a single concept for each respondent, each of the respondents is showing too many concepts. The goal of Conjoint Analysis is to determine the alignments of limited number of attributes are the most influential on respondent choice or decision making. A controlled set of potential products or services is shown the respondents and by analyzing how they make preferences between these products, the implicit valuation of the individual elements making up the product or service can be determined. This implicit valuation can be used to create a market models that approximate market share, revenue and even effectiveness of new designs.

Conjoint Analysis is originated in mathematical psychology and was developed by the marketing professor Paul Green at the University of Pennsylvania and Data Chan. Other prominent Conjoint Analysis pioneers are professor V. Srinivasan of Stanford University who developed linear programming procedure for rank ordered data as well as self explicated approach. Today it is used in many of the social sciences and applied sciences including marketing, product management, and operations research. It is used to test frequently the customer who acceptance of new product designs, in assessing the appeal of advertisements and in service design. It has been used in product positioning, but there are some who raise problems with this application of Conjoint Analysis.

Conjoint Analysis techniques may also be referred as multi-attribute compositional modelling, isolated choice modelling, or stated preference research, and is part of broader set of trade off analysis tools used for systematic analysis of decisions. These tools are includes Brand Price Trade Off, Simalto, and mathematical approaches such as evolutionary algorithms or Rule Developing Experimentation.

Data for Conjoint Analysis is the most commonly gathered information through market research survey, although Conjoint Analysis can also be applied to carefully designed configuration or data from an correctly design test market research. Market research rules of thumb apply with regard to statistical sample size and accuracy when scheming Conjoint Analysis interviews.

The length of research survey depends on the number of attributes to be assessed and the method of Conjoint Analysis in use. The typical Adaptive Conjoint survey with 20-25 attributes may take more than 30 minutes to complete. Choice based conjoint, by using a smaller summary set circulated across the sample for entire steps completed in less than 15 minutes. Choice exercises may be displayed as store front type layout or in the some other replicated shopping environment.

Conjoint Analysis services from Informatics Outsourcing

• For each action, respondents are required to make hypothetical trade-offs between products.
• Each respondent is forced to make trade-offs between product features, much as consumers are forced to do when they are actually shopping.
• Each respondent answers a series of questions; in each question the combination of features shown together changes. In this way, a large number of product features can be estimated.

Offshore Quantitative Market Research Service

Market Research is any organized effort to gather information about markets or customers. It is very important component of business strategy. The term is commonly interchanged with marketing research; however, expert practitioners may wish to draw a distinction, in that marketing research is concerned specifically about marketing processes, while market research is concerned specifically with markets. Market Research is a key factor to get advantage over competitors. 

Market Research provides important information to identify and analyze the market need, market size and competition. Informatics Outsourcing is a full service research organization offering a comprehensive range of information gathering and analysis capabilities. Informatics Outsourcing has close to 10 years experience in the conduct of marketing research programs. At Informatics Outsourcing you will find a team of research professionals who are focused and committed to ensuring that the most pertinent, reliable, easy to interpret and actionable information is generated and delivered to all their clients. Informatics Outsourcing is one of the best networked marketing research companies in the World with a well trained and experienced team. 

A good marketing research consists of much more than just conducting interviews with interested individuals. When you work with Informatics Outsourcing you are working with one of the most experienced full service marketing research companies. Informatics Outsourcing customizes each research project to clients need. At Informatics Outsourcing, we are always ready to help our clients explore new opportunities, find solutions to marketing problems, learn more about prevailing market conditions, link with their customers, suppliers and other key business affiliates.

Our Quantitative Market Research services include,

1. Market Research processes

•           Data Collection
•           Survey
•           Focus Group
•           CATI
•           Market Research data processing
•           Data Cleansing

2. Statistical Market Research services

•           Data Analysis
•           Statistical Modeling
•           Charting
•           Factor and Cluster Analysis
•           Conjoint Analysis
•           Regression Analysis
•           Report Generation
•           Insight Generation
•           Forecasting Analysis
•           Significance Testing

Best way to write a Market Research Report Writing

After done your Market Research work, you have to write a report. However, the best research can get put aside without being read. Following are the few tips for writing a good Market Research Report Writing

The first thing is to get your reader's attention with powerful headline and good opening summary of the report. If you fail to get the prospects attention, you will fail to communicate and deliver the benefits of research.

The trick is writing a Market Research Report Writing that will catch the reader's attention without allowing his or her mind to wander even for a second. Otherwise: Making a copy mistake that turns her or him off entirely - and gets your research report immediately tossed into the nearest virtual or literal trash can.

But take care, in long research reports - the headline and opening summary represent only about four percent of total volume of the report copy required. There is lot of pages where you can lose your reader's attention. Lose him, even for divide second, and you have probably lost him - and your promotion - for good….

Avoid the following three unforgivable sins when writing your research report:

1) Do not confuse your reader

2) Do not bore your reader

3) Do not set off his BS detector

By following the seven simple rules below produce a good top quality Market Research Report Writing:

Rule 1: Keep Your Report Logically Organized.

When reading or learning, humans are generally require that the material to be presented in a clear, logical way. That generally means starting at point "A" ... progressing to point "B" ... moving on to point "C" ... and so on, until you have reached your quality conclusion.

Rule 2: Keep the Report Moving.

Reader's eyes first fall upon your report; a little stopwatch starts ticking in his head. If at any point, they will feel you are not moving along quickly enough, you will lose them.

Rule 3: Keep Your Report Simple.

Never ask your prospect to work in order to figure out what you are saying. Try to limit yourself to one complete, clearly presented thought per sentence. When you connect two thoughts in a sentence, make sure they connect directly and clearly with each other. Also avoid inserting undeveloped or underdeveloped thoughts in sentences or paragraphs.

Rule 4: Keep the Report Fat-Free.

Readers should feel as though they are getting good value in return for the number of words they are made to read.

Rule 5: Keep Your Report Believable.

Your reader is already skeptical. Making grandiose claims that you cannot prove beyond the shadow of doubt will only confirm what he or she already suspects: That you are full of beans. And this will get your promotion trashed in heartbeat.

Rule 6: Keep Your Report Potent.

One of the fastest ways to lose your prospect's attention is to fail to focus on his favorite subject: HE or SHE the word is "You" has been called the most powerful word in the English language - and for good reason. Finding ways to personalize the report - applying each passage as if had been written for the reader is key to keeping his attention.

Rule 7: Avoid Unintended Impressions.

Where friends read your report can pay huge dividends. By the time you are ready to stick a fork in your new promotion, you can almost recount it word for word - frontwards and backwards. That means you are too close to the report to catch things that may be misread, even things that may raise objections or implant an erroneous impression in your reader's mind.

Market Research Focus Groups Service

Group interviews and group discussions are known as Focus groups. They are used to understand the position or behavior of the interviewer or audience. At the time of Focus Groups Six to twelve individuals are selected and either one or two moderators are selected for conduct successful Focus Groups. If they are having two moderators, they will be adopting opposite positions. The moderator is those who introduce the topic. Market research focus groups discussion are controlled through these moderators. These market research focus groups are watched from adjacent rooms. There are various devices used to record these discussions.

Four basic steps to conducting successful focus groups:

• Planning
• Recruiting
• Moderating
• Analysis and Reporting

Planning

The Successful focus group requires good planning.

• The site should be ready to access easily.
• The site should be large enough to accommodate the group and moderator, but not so large that participant’s feel uncomfortable.
• Participants should see and hear one another during the group.

Recruiting

Focus group respondents are important to have a diverse group, even if respondents all fall under the same group of selection criteria. Example, you might want to recruit a group of patients, within the group of patients, you should be have a  diverse a group as possible in order to learn as much as, at least you can about the attitudes, perceptions, and beliefs of as many types of patients.

Moderating

A focus groups moderator can make a break in focus group. If possible, you can use an experienced moderator. If you should not unable to do this, at least keep the following in mind when selecting someone use to moderate the group:

• Person should have well at drawing people out and encouraging people to speak.
• Person should able to control overly dominant people or people making inappropriate comments without disrupting the group.
• Person should be able to ask all of the predetermined questions, but also follow up on comments made by respondent that needs clarification.

Signed Releases

This is a good idea to get a signed release from focus group participants. While you should protect their identities, you want permission to use their opinions as direct quotes but you also want to spell out for them the conditions of their participation. If you are paying participants a fee for their participation you should also have them sign a form indicating that they received an incentive in whatever amount you determine for their participation in the focus group (this is important to create an audit trail).

Need for Successful Focus Groups

• Pens
• Chart Paper
• Easel
• Moderator
• Note taker
• Tape recorder

Analysis and Reporting

The way that focus groups data is analyzed and reported varies greatly. If you are the person writing the report, it is important to attend the groups if at all possible, or to transcribe the tapes from the group in order to really understand the degree of feeling people used while expressing their ideas. It is a good idea to write up the group as soon after it occurs as possible, while it is still fresh in your mind.

Costs to Plan for Focus Groups:

• Site
• Moderator
• Recruitment fees
• Participant stipends
• Other participant costs
• Translation
• Transcription

Clinical Trial Software Case Report Form

A Case Report Form is an electronic or paper questionnaire specifically used in clinical trial research. The Case Report Form is the tool used to sponsor of the clinical trial to collect data from each participating site. All data on each patient participating in a clinical trial are held documented in CRF. The sponsor of the clinical trial develops use the CRF to collect specific data, they need in order to test their hypotheses or answer their research questions. The size of the CRF range from handwritten one-time snapshot of a patient's physical condition to hundreds of pages in electronically captured data obtained over a period of weeks or months. It can also include all the required check-up and visits months after the patient's treatment has stopped.

The sponsor is responsible for all the designing of CRF that accurately represents the protocol of clinical trial, and managing its production, monitoring the data collection and auditing the content are filled-in CRF. Case report form contains all the data obtained during the patient's participation in clinical trial. Before sent to the sponsor, this data is usually de-identified that is not traceable to the patient, by removing the patient's name, medical record number, etc., and giving the patient unique study number. The monitoring oversees the release of any personally identifiable data to the sponsor by Institutional Review Board (IRB).

The main logistic goal of a clinical trial is to be obtaining accurate CRF from sponsor's point. Because of human and machine error, the data entered in CRF is rarely completely accurate or entirely readable. When the study of administrators or automated mechanisms processes the CRF, it was sent to the sponsor by local researchers, they use to make a note of queries. Queries are non-sensible or questionable data that must be explained.

Case report form should be built for:

• Gather all the accurate information that answer study questions, and is consistent with study protocol.
• Organize and label forms and fields so that data entry is non-rational.
• Avoid the duplication of data.

Reasons for Standard case report form templates:

• Eliminate Form Duplication: Some of the data requirements are same across studies, such as demographics, admission checklists, concomitant medications, and adverse events. This is especially true for organizations that carry out multiple studies in the same research area.
• Simplify Creating New Case Report Forms: There is no need to start from scratch, templates can be customized.
• Reduce the Data Entry Learning Curve: Templates are using the same visual style and basic organization become familiar to entering data, reducing the data entry learning curve.

Data Collection Research Methods and Techniques

Will you need low cost and quality to industry data collection services, If yes just outsource your data collection needs to Online Web Research Services. Informatics Outsourcing is well experienced data collection Company offering reliable solution for your variety of data collection needs. We help many business organizations to create, update and maintain their databases for market research.

We are in industry many years with well experienced. We always update our resources with latest technical tools and software. Always we will provide training sessions for our professionals, before starting of each project of clients. We are technical in providing data collection services for various business industries such as clinical research, clinical Data Management, Pharmaceutical Companies, Biotechnological Companies, Healthcare Companies and Research Institutions etc.

If you want to know more about our data collection and Market Research services, feel free to ask us at info@informaticsoutsourcing.com

Our data collection services include:

1. Automated data collection
2. Online data collection
3. Shop floor data collection
4. Traffic data collection
5. Manual data collection
6. Mobile data collection
7. Bar-code data collection
8. Inventory data collection
9. Medical data collection
10. All types of data collection as per clients needs

In data collection service, our main aim is to provide the best and possible result oriented data collection services to clients. We help our clients to reduce the functional cost behind the process of data collection.

Benefits of data collection:

1. Best Quality data collection services
2. Increased business efficiency by creating and updating database
3. Experienced and aimed data collection professionals
4. Competitive and low cost pricing rates
5. Assure and confidential service
6. Live support for queries

Market Research Data Cleansing Service

Data cleansing is the process of detecting and correcting corrupt or inaccurate records from a record set, table, or database. Used mainly in database, the term refers to identifying incomplete, incorrect, inaccurate, irrelevant data, Parts of the data and then replacing, modifying or deleting this dirty data. After cleansing, a data or data set will be consistent with other similar data sets in the system. The inconsistencies are detected or removed may have been originally caused by different data dictionary definitions of similar entities in different stores, may have been caused by user entry errors, or may have been corrupted in transmission or storage.

Data cleansing differs from data validation, validation means data is rejected from the system at entry and is performed at entry time, rather than on batches of data. The actual process of data cleansing may involve removing typographical errors or validating and correcting values against a known list of entities. The validation may be strict such as rejecting any address that does not have a valid postal code or fuzzy such as correcting records that partially match existing, known records.

High quality of data needs to pass a set of quality criteria. Those include:

    Accuracy: An aggregated value over the criteria of integrity, consistency and density
    Integrity: An aggregated value over the criteria of completeness and validity
    Completeness: Achieved by correcting data containing anomalies
    Validity: Approximately the amount of data satisfying integrity constraints
    Consistency: Concerns contradiction and syntactical anomalies
    Uniformity: Directly related to irregularity and in compliance with the set ‘Unit of Measure’
    Density: The quotient of missing values in the data and the number of total values ought to be known
    Uniqueness: Find the related number of duplicates in the data

Data Cleansing Process

    Data Auditing: The data is audited with the use of statistical methods to detect anomalies and contradictions. This eventually gives an indication for the characteristics of the anomalies and their locations.

    Workflow specification: The detection and removal of anomalies is performed by a sequence of operations on the data known as the workflow. It is specified after the process of auditing the data and is crucial in achieving the end of the product of high quality data. In order to achieve a proper workflow, the causes of the anomalies and errors in the data have to be closely considered. If for instance we find that an anomaly is typing errors in data input stages, the layout of keyboard can help in manifesting possible solutions.

    Workflow Execution: In this stage, the workflow is executed after its specification is completed and the correctness of data is verified. The implementation of the workflow should be efficient even on large sets of data which necessarily poses a trade-off, because the execution of the data cleansing operation can be computationally expensive.

    Post Processing and Controlling: After executing the cleansing workflow, the results are inspected to verify correctness. Data that could not be corrected during execution of the workflow are manually corrected if possible. The result is the new cycle in the data cleansing process where the data is audited again to allow the specification of an additional workflow to further cleansing the data by automatic processing.

Methods of Data Cleansing:

    Parsing: In data cleansing Parsing is detection of syntax errors. A parser decides whether a string of data is acceptable within the allowed data specification or not. In this similar way a parser works with grammars and languages.

    Data Transformation: Data Transformation allows the mapping of the data from their given format into expected format by the appropriate application. This includes value conversions or translation functions as well as normalizing numeric values to conform to minimum and maximum values.

    Duplicate Elimination: Duplicate detection requires an algorithm for determining whether data contains duplicate representations of the same entity or not. Usually, data is sorted by a key that would bring duplicate entries closer together for faster identification.

    Statistical Methods: By analyzing the data using the values of mean, standard deviation, range, or clustering algorithms, it is possible for an expert to find values that are unexpected and thus erroneous. Although the correction of such data is difficult, the true value is not known, it can be resolved by setting the values of an average or other statistical value. Statistical methods can also be used to handle missing values which can be replaced by one or more possible values that are usually obtained by extensive data augmentation algorithms.