During the past decade, the arrival of new technology has increased opportunities for small businesses to improve efficiency by developing targeted e-mail campaigns and other digital-based initiatives. Within the past few years, Big Data has also emerged as another tantalizing possibility for small business data strategies -- if also one that is rife with challenges:

• Can a 50-100 employee company with limited capital genuinely expect to develop a sustainable revenue growth strategy from Big Data?
• Can small businesses craft Big Data-based initiatives that are cost-effective? 
• How would such a strategy take shape?
• For brick-and-mortar small businesses offering consumer goods, especially, does it make sense to devote precious financial and employee resources toward wrestling down Big Data?
  
• What kind of market research exists to help guide small companies that are eager to utilize Big Data?
  

Can Big Data positively impact revenues for mid-sized and small business data strategies? Last week we asked when the market research community will develop strategies and tactics to define terms for Big Data's use across industries:

As market researchers confront the era of Big Data, it is time to ask key questions about its usability, its potential to affect how they do their work -- and how it impacts the customers who purchase their work. Google, of course, is a major player in the Big Data landscape, but smart business-owners know that accurate, reliable market research tailored to their specific needs requires far more specificity and targeting than the search engine giant can provide.

Last year "Big Data" emerged as a topic of awe in the popular press and became a savvy talking point. But beyond the conventional wisdom that is taking shape, market research experts who have long practiced data-collection and big data analytics -- if on a smaller scale -- are questioning if this will be the year that the ‘firehose of data’ directly impacts their field. Even big data healthcare companies are wrestling with the implications of utilizing the vast amounts of information available to them. 

Everybody likes to talk about the weather. It’s a fair bet that commenting on it and speculating about it account for a fairly significant percentage of the world’s conversations on any given day. There is an oft-quoted saying (attributed to many different comedians and broadcasters) that if you have no other information, no research, you can fairly accurately predict the weather tomorrow by simply saying that it will be substantially similar to the weather today. And you know what? You’ll be right a lot.

In a continuing effort to hone our quantitative market research analysis skills and lend our methodological expertise to some of the most pressing questions of our time, the analysts at MarketResearch.com offer an occasional post on quantitative research challenges.

Today’s challenge, literally under the heading of “Navel Gazing,” is to determine as accurately as possible the amount of belly-button lint produced daily in the United States.

My name is Rob Kaminsky. As a Research Specialist at MarketResearch.com, I spend my days (and nights) helping clients find the best marketing research report for their business needs. Clients frequently find multiple reports that seem relevant to their current needs, but are often uncertain which would be the best fit. Choosing the right reports often comes down to the appropriate combination of primary research and secondary research that answers questions they want answered. 

When it comes to selling fast moving consumer goods like fragrances how can a company use youth marketing research to sell its products? It’s an interesting question because it illustrates how important market research is whether you are selling pharmaceuticals, financial services or lust.

Axe makes body sprays for young men.

Market research can be used in identifying customer needs, as well as who they are. You have to ask the right questions though. If you don’t really know your customers you will not retain them leaving you constantly chasing after new ones. Don’t just follow your instincts as many companies do. Use market research reports, focus groups and market surveys. Take the time too really get to know them. Ask the right questions; get the facts; and discover how to motivate your customers.

Do you have market research projects waiting on the outcome of the election? Many eyes were on Denver this week when President Obama and Governor Romney met for the first of the presidential debates. Business decision makers from the U.S. and abroad were hoping to get their first glimpse into the future White House occupants, and with good reason. There are a host of policy alternatives at play in this election that will affect the course of industries from healthcare to energy, transportation to construction, and telecom to agriculture.