A Process for Analyzing Research Data

As a research analyst, uncovering the story in marketing research data presents a challenge. This is the information in which the research sponsor is truly interested and on which they base the majority of their business decisions. There is a six-step process that can ensure that the analysis goes well and that the most value is derived from the data:

1. First, the analyst should be involved in the project at its design stage, becoming familiar with the data and the objectives for the research. This step provides a foundation for the analysis and gives the analyst sufficient familiarity with the data to begin the "real" work.
2. The next step is an in-depth analysis of each question asked in the research. The analyst reviews the summarized responses and then generates a description of the aggregate outcome for each question—whether quantitative or qualitative.
3. The analyst then reviews these aggregate descriptions in the context of each project objective and draws associations to all relevant objectives. Upon completion, the analyst then summaries these results and their relationships to each other.
4. The fourth step requires business insight into the results, at both the individual-question and the grouped-question levels. The goal is to look for relationships that can explain the marketing or business implications behind the data. This is where the analyst's business experience and education becomes critical to the data interpretation.
5. Next, the analyst conducts a check on the output of the fourth step by comparing it to the individual question results constructed earlier. This should confirm that the analysis has gone smoothly and is correct.
6. Based on the draft statements written up to this point, the final stage involves finessing the data in a comprehensive and logical flow and in a format that meets the sponsor's consumption needs.

By following this comprehensive process, the research sponsor can truly maximize the value and potential impact of the research investment. They are now ready to make pointed business decisions to increase the success of their product.