How do you decide what data points to gather when doing market research?
1 Answer
Axel Kirstetter
Guidewire Software VP Product Marketing | Formerly EIS Group, Datasite, Software AG, Microstrategy • June 12
When deciding what data points to gather during market research, I start by aligning the research objectives with the business goals, such as understanding customer needs, identifying market opportunities, or assessing competitive dynamics. I prioritize data points that provide insights into market size, growth trends, and customer demographics. It's crucial to include behavioral data to understand purchasing patterns and preferences. Competitive analysis data points are also essential to evaluate market positioning and identify strengths and weaknesses. Additionally, gathering economic, cultural, and regulatory information helps in assessing market feasibility and potential barriers to entry.
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