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Chapter 1

Researchin Business

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Understand . . .what business research is and how it differs from

business decision support systems and business

intelligence systems

trends affecting business research and the

emerging hierarchy of business decision makers

the distinction between good business research

and research that falls short of professional qualitythe value of learning business research

process skills

Learning Objectives

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Why Study

Business Research?

Business

research providesinformation to

guide business

decisions

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A process ofdetermining, acquiring,

analyzing, synthesizing, and disseminating

relevant business data, information, andinsights to decision makers in ways that

mobilize the organization to take

appropriate business actions that,

in turn, maximize business performance

Business Research

Defined

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Studying Business

Research

Complex

Decisions

Stakeholder

Influence

Competition

Factors

Growth of

Internet

Business as a

discipline

Government

Intervention

Greater

Computing

Power

New

Research

Perspectives

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Computer Advances

Data warehousing

Storing vast amounts

of data in electronicstorehouses

Data mining

Applying

mathematical modelsto extract meaningful

knowledge from data

in internal databases

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Business Planning Drives

Business Research

Organizational

Mission

BusinessStrategies

BusinessTactics

Business

Goals

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Information Sources

Decision SupportSystems

Numerous elements of

data organized for

retrieval and use in

business decision making

Stored and retrieved via

Intranets

Extranets

Business IntelligenceSystems

Ongoing information

collection

Focused on events,

trends in micro and

macro-environments

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Exhibit 1-1 Sources of

Business Intelligence

BusinessIntelligence

Government/

Regulatory

Economic

Competitive

Demographic

Technological Cultural/

Social

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Business Tactics and

Research

Hagen-Dazs Tactics

Super premium

Dozens of flavors

Small packages

Signature colors on

packaging

Available in franchiseand grocery stores

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Exhibit 1-2 Hierarchy of

Business Decision Makers

Visionaries

StandardizedDecision Makers

Intuitive Decision MakersIntuitive Decision Makers

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Exhibit 1-2 Hierarchy of

Business Decision Makers

Visionaries

Intuitive Decision Makers

StandardizedDecision Makers

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Exhibit 1-2 Hierarchy of

Business Decision Makers

Visionaries

Intuitive Decision Makers

StandardizedDecision Makers

Visionaries

1 14

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Exhibit 1-3 Minute Main

and Business Research

1 15

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Research May Be

Unnecessary

Can information be applied to a critical

decision?

Does it improve managerial decision-

making?

Are sufficient resources available?

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Information Value Chain

Characteristics

Data collection/

transmission

Data

interpretation

Models

Decision

support systems

Data

management

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Exhibit 1-4 Who Conducts

Business Research?

Internal External

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Eastman Kodak has a world-

class research department

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Exhibit 1-4

Business Research Suppliers

External Research Suppliers

Business Research Firms

Communication Agencies

Consultants

Trade Associations

1 21

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Business Research Firms

Business Research Firms

Full Service Specialists

Custom

Proprietary

Methods

SyndicatedData

Other

1-22

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Proprietary Research

Decision Analyst, Inc.

uses Internet-basedconcept testingcalledConceptorto examine new

product concepts

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Exhibit 1-6 Some

Syndicated Data Providers

AC Nielsen

Scarborough

Millward Brown

Nielsen Media Research Roper ASW

CSA TMO

Yahoo!

ORC International

DoubleClick

Nielsen/NetRatings

Taylor Nelson Sofres

Intersearch

J.D. Power Associates

MediaMark

Simmon (SMRB)

BRMB Information Resources Inc.

1-25

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Specialty Business

Research Firms

Methodology

Process

Industry

Participant group

Geographic Region

1-26

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Communication Agencies

Direct

Business

Public

Relations

AdvertisingSales

Promotion

1-27

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Consultants and

Trade Associations

Consultants

Business

General Business

Trade Associations

General business

Business

specialties

Research

specialties

1-28

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8

Trade Associations

NHRA

CASRO

MRA

ESOMAR

BRA

AMA

WAOBRP

MPA

NAB

1-29

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Exhibit 1-4 Who Conducts

Research?

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Key Terms

Business intelligencesystem

Business research

Control

Custom Researcher

Data mining

Data warehouse

Decision supportsystem

Extranet

Full-serviceresearcher

Intranet Management dilemma

Omnibus researcher

Omnibus Study Proprietary Methodology

Return on Investment(ROI)

Scientific method Strategy

Syndicated data provider

Tactics