The Internet of Things (IoT) remains largely an amorphous construct with many different meanings to many different constituents. One thing that is clear, however, is that it represents a next generation set of technologies, systems, networks, platforms, devices, solutions and services that will transform virtually every industry vertical. Those industries that are not transformed by IoT are also those that are destined for significant contraction. IoT will also transform consumer lifestyles and lead to a new world of possibilities in terms of how people view virtual objects and interact between virtual and physical assets.

According to Bloomberg, about 80% of entrepreneurs' business ventures fail within the first 18 months. Whether or not these entrepreneurs work to turn things around, I’m not sure. But, what I do know is that once a business begins the downward spiral, there are ways that you can direct your business back to the right track, one of which, and potentially the most crucial, is market research.

China is one of the world’s fastest growing economies, housing a fifth of the global population and one of the largest healthcare markets around the world. Along with sustained economic and population growth, as well as an aging population, the Chinese healthcare market has maintained an annual average growth rate above 16% since the1990’s. In 2014, the total value of medical devices in the Chinese healthcare market reached RMB 259.5 billion (approx US$41.8 billion). Imported medical devices made by overseas and multinational companies account for about a half. Many high-tech and high-valued medical devices, such as magnetic resonance imaging (MRI) equipment and computed tomography (CT) equipment, are almost monopolized by GE, Siemens, Philips and other overseas and multinational companies.

Custom market research offers solutions tailored to individual business needs, so each customized market research project will be different. Structure and timing depends on a number of key elements, including complexity of project objectives, determined size of primary research components, difficulty in recruiting target participant segments, etc. Though a research company may have experience conducting research in a specific market, it is important to bear in mind that each project is tailored to a specific business need and is, therefore, unique in its scope and deliverables. The fluid process of custom allows for changes and “tweaks” to improve the output as information is collected.

The United States and Europe dominate the market research industry with global revenues exceeding $40 billion. These research firms make up almost 5,000 companies in the US and generate over $15 billion in revenue here in the states.

Within this multi-billion dollar industry, there have been credibility concerns over the years. For example, back in 2013, The Globe and Mail, a leading Canadian online news source, pointed to botched political polls from a British Columbian campaign in their article entitled, “When pollsters get it wrong: The high cost of lost credibility.”

Organization's views on market research vary from company to company. Factors, such as the corporate culture, sales revenue, and overall marketing strategy, can determine the budget allocated for market research. For most companies, market research is known to play an important role in pivotal business decisions; yet, for some companies, the need doesn't always match the budget available.

Sales-wise, the impulse to give treats to pets is the gravy of the pet food market. According to Simmons National Consumer Survey data from Experian Marketing Services, 79% of dog owners and 47% of cat owners buy pet treats. Among U.S. households overall (total households, not just pet-owning households), 38% buy dog or cat treats—for perspective, that’s about the same percentage as those that buy crackers.

Market research is the process of gathering valuable information about the needs and preferences of consumers. It helps in determining if there is a market for a product or service and is a key part in developing any business. It gives businesses an insight into the profiles and spending habits of consumers and provides companies with the data necessary for making good business decisions.

Telemedicine is increasingly gaining popularity due to its high potential for cost savings and increased efficiency in healthcare. Expert medical care through telemedicine can significantly improve the healthcare facilities at rural and remote locations. Advanced wireless and networking technologies coupled with recent advances in biotechnology, biosensors and software engineering has enabled the promising growth in telemedicine healthcare systems.

At some point or another, all undergraduate and graduate students will be assigned an intensive research project or thesis, or dissertation in the case of PhD candidates. Sometimes, these assignments can seem overwhelming at first. Not only is there substantial research to be done, but the research that is already available is wide-ranging. However, not all research found online is up-to-date or the level of quality needed for these types of projects. Being able to find enough sources, analyze them, and then organize them into a paper is difficult even for the best writers.