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Essay / Research Paper Abstract
An 8 page paper. The research is divided on whether or not research leads to better decisions. Still, this essay discusses a number of research approaches that can be used to gather information. The strengths and weaknesses of each approach are included. Bibliography lists 4 sources.
Page Count:
8 pages (~225 words per page)
File: MM12_PGrsdmk.RTF
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Unformatted sample text from the term paper:
and their likes and dislikes or they may need to know what products are selling better than others and where sales have dropped off. They may want to know how
they compare with other companies in the same sector. One common genre of business research is market research. Barrios (2001) explains: "Market research is the process of collecting relevant data
for the purpose of enhancing business decision-making. There are two general categories of data that are used when company wants to research a market (Barrios, 2004). Primary data is
that information collected and developed by the researcher; secondary data is information one obtains from published reports, such as census data, or from associations for the industry (Barrios, 2004). In
many cases, business research will begin with published reports and documents (Barrios, 2004). Of course, this depends on the type of decision that is being made. For instance, if a
manager wanted to know why the company has received a high volume of complaints, he or she would go directly to the source - the customers. D.J. Power (2000)
wrote: "Good information is essential for fact-based decision-making." Beginning in the 1970s, computer decision support systems were available to help managers make better decisions based on fact instead of feelings
(Power, 2000). Today, there are at least hundreds of Decision Support Systems available that companies can have tailored to their specific needs (Power, 2000). A knowledge driven system "can suggest
or recommend actions to managers" (Power, 2000). The system contains information and data that are specific to a domain; it is interactive and can help solve certain types of problems
(Power, 2000). The systems mine data, in other words, it can sift through large volumes of data to produce what the manager wants (Power, 2000). These kinds of systems would
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