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2006 The McGraw-Hill Companies, Inc., All Rights Reserved. McGraw-Hill/Irwin

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Chapter 1

Researchin Business


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Understand . . . what business research is and how it differs frombusiness decision support systems and businessintelligence systems trends affecting business research and theemerging hierarchy of business decision makers the distinction between good business research

and research that falls short of professional quality the value of learning business researchprocess skills

Learning Objectives


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Why StudyBusiness Research?

Business

research providesinformation toguide business

decisions


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Studying BusinessResearch

ComplexDecisions

StakeholderInfluence

Competition

Factors

Growth ofInternet

Business as adiscipline

Government

Intervention

GreaterComputing

Power

NewResearch

Perspectives


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Computer Advances

Data warehousing Storing vast amounts

of data in electronicstorehouses

Data mining Applying

mathematical modelsto extract meaningfulknowledge from datain internal databases


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Business Planning DrivesBusiness Research

Organizational

Mission

BusinessStrategies

BusinessTactics

Business

Goals


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Information Sources

Decision SupportSystems

Numerous elements ofdata organized forretrieval and use inbusiness decision making

Stored and retrieved via Intranets Extranets

Business IntelligenceSystems

Ongoing informationcollection

Focused on events,trends in micro andmacro-environments


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Exhibit 1-1 Sources ofBusiness Intelligence

BusinessIntelligence

Government/Regulatory

Economic

Competitive

Demographic

Technological Cultural/Social


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Business Tactics andResearch

Hagen-Dazs Tactics Super premium Dozens of flavors Small packages Signature colors on

packaging Available in franchise

and grocery stores


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Exhibit 1-2 Hierarchy ofBusiness Decision Makers

Visionaries

StandardizedDecision Makers

Intuitive Decision MakersIntuitive Decision Makers


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Visionaries

Intuitive Decision Makers



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Visionaries

Intuitive Decision Makers


Visionaries


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Exhibit 1-3 Minute Mainand Business Research


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Research May BeUnnecessary

Can information be applied to a criticaldecision?

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

Datamanagement

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Exhibit 1-8 Characteristicsof Good Research

Clearly defined purpose

Detailed research process

Thoroughly planned design

High ethical standards

Limitations addressed

Adequate analysis

Unambiguous presentation

Conclusions justified

Credentials

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Exhibit 1-4 Who ConductsBusiness Research?

Internal External

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Eastman Kodak has a world-class research department

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Exhibit 1-4Business Research Suppliers

External Research Suppliers

Business Research Firms

Communication Agencies

Consultants

Trade Associations

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Full Service Specialists

Custom

Proprietary

Methods

SyndicatedData

Other


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Syndicated Services

Nielsen MediaResearch

provides audiencedata for television

programs likeCourt TV

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Exhibit 1-6 SomeSyndicated 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.

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Specialty BusinessResearch Firms

Methodology

Process

Industry

Participant group

Geographic Region


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Consultants andTrade Associations

Consultants Business General Business

Trade Associations General business Business

specialties Research

specialties

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Trade Associations

NHRA

CASRO

MRA

ESOMAR

BRA

AMA

WAOBRP

MPA

NAB

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Exhibit 1-4 Who ConductsResearch?

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Key Terms

Business intelligencesystem

Business research Control Custom Researcher Data mining Data warehouse Decision support

system Extranet Full-service

researcher

Intranet Management dilemma Omnibus researcher

Omnibus Study Proprietary Methodology Return on Investment

(ROI) Scientific method Strategy Syndicated data provider

Tactics

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