Emma David

‘Quantitative data’ can be understood as something that can be counted and measured. It is a simple concept that offers insight into the number of required variables. As a business, you have been using qualitative data for different purposes. Think of the time when you wished to know how many repeat customers you have or...

While collecting data from various types of surveys and questionnaires, marketers often use four types of data measurement scales: Nominal, Ordinal, Interval, and Ratio Scale. Among these four,  nominal scales simply name things, ordinal scales provide order, and interval scales show the distance between data points. However, only the ratio scale allows for true comparisons...

Market research experts and statisticians rely so much on numerical data that they forget to ask the bigger questions.  “What sets us apart from the competition? What can we do to improve our product?” Qualitative data can help you get in-depth, intimate answers to such big questions that can never be discovered using a quantitative...

Likert Scale is the perfect means for collecting focused opinions on a particular topic. At times, a simple yes or no could be sufficient when you need to survey customers, employees, or target audiences about their perceptions and opinions. However, when you are required to dig deeper into the respondent’s thoughts, you’ll need a different survey option....

Customer lifetime value (CLV) is calculated in business marketing strategies to see the bigger picture. Many businesses focus on long-standing relationships and success, and not just on one-time sales. For businesses looking to acquire and retain valuable customers, understanding the lifetime value of a customer is important. In simple terms, it is a metric that calculates how...