Market Research Data Entry for Research Firms to Turn Data into Powerful Insights

Research firms work with a substantial amount of data for informed product development and design, customer targeting, communications, competitor profiling, and business strategies.

Maintaining credibility when generating insights for business applications is dependent on how all of this data is managed and stored structurally. Market research data entry allows compilation, sorting, and organizing the data to gain a detailed and comprehensive look into market research information.

Quantitative research, advertising research, product research, competitive intelligence research, brand research, risk analysis, and many other forms of market research have to be entered into a system for further processing before they can be examined for in-depth insights.

Data entry serves as the foundation for survey forms, focus group data, emails, hard copy research, customer polls, graphs, and charts to be digitized and properly configured for enhanced versatility, usability, and analyzation.

Professional outsourcing companies, like Data Entry Outsourced (DEO), offer both specialty and syndicated market research firms the ability to efficiently organize all of their research data to hasten and streamline the compilation and analytic processes. This way, market data can be shared with businesses in formats that are designed to accurately reflect research findings.

Linking Data Entry to Market Research Insights

Market research is often a highly complex task that relies on multiple forms of sampling and data collection to achieve thorough insights. Forbes suggests that market research should be cohesively framed for best analysis: collected data, the insight that data can provide, and the decisions it can impact.

However, there must be a bridge linking these steps together. Collected market research data is only as meaningful as the information that can be obtained through analysis. Analysis requires clean, enriched data that’s free of redundancies, inaccuracies, and formatted to incorporate any characters, barcodes, and numerical symbols that give additional insights.

Data Entry of Primary Research Data

Research survey indicates that data proliferation leads to several complexities in the IT industry, few of them being:

Surveys, Questionnaires, and Forms: Data is collected from online, phone, or postal surveys and other forms, such as questionnaires, vouchers, invoices, and purchase orders, and entered into a CRM system or preferred database.
Voice Calls: Data is compiled and entered into a CRM system for further processing, which may include sorting and indexing by key information like demographics, location, or industry.
Social Media Monitoring: Data is extracted from digital formats, like social media monitoring tools, and categorized depending on relevant elements so that it’s prepped for uploading into a BI dashboard or ready for report generation.
Focus Groups: Data from varied formats, including notes or graphs, is extracted and uploaded into a CRM, spreadsheet, or database in a relevant structure that allows analysts to create a narrative from the information.
Interviews: Data is collected from online, in-person, and phone interviews and entered in a CRM system with customizable fields that facilitate analysis of crucial trends and developments.

Data Entry of Secondary Research Data

Raw data dumps: A cluttered and unorganized information can be structured into data files for easier location, retrieval, and analysis.
Company Reports: Data is extracted from reports and compiled and organized into customized databases, spreadsheets, or CRM databases.
Reports and Studies by Government Agencies and Trade Associations: Key data from studies, articles, and reports are gathered, entered into a CRM or database, and the information is organized and integrated for cohesion.
Systematic Reviews: The right type of data is collected from amongst various literature studies and reviews, entered into a CRM or database, and organizational components are added to help research firms identify, summarize, and synthesize studies and findings to incorporate into their analysis.

Market Research Data Entry Process

For market research data in specific formats, such as survey forms or questionnaires, data entry follows a distinct process:

Coding: Forms, surveys, and other research material are collected and coded with a combination of manual data entry and digital data capture software and scanning systems, and specialized character recognition technologies.
Data Input: Initial data is then entered into the system according to type, taking into consideration the source material, research population, data privacy, and research processes.
Re-Entry: To control any potential errors in the entry process, re-entry verification takes place. This also helps with data cleansing and ensures that entry is executed with total accuracy.

This initial data entry methodology prepares the data for further processing and ensures that it’s serviceable for analysis. Discrepancy management, data enhancement, standardization, and database creation are optimized per the unique market research requirement.

Value-Added Data Entry Capabilities

When combined with analytics, market research data connects information about customers, markets, products, services to sales, and margin-based financial metrics. Businesses can deploy effective marketing strategies, utilize smart pricing, provide targeted brand exposure, and position their brand to its best advantage.

Many market research firms are outsourcing core competencies, like data entry, to stay agile and on top of what they do best. Unique technologies are needed to enter and process multi-source market research data correctly and quickly. Additionally, value-added data operation services, including data collection, data processing, data warehousing, and reporting, ensure market research firms don’t dilute their focus from main market research endeavors.

Utilizing trusted partners to assist with data entry capabilities is imperative for market research firms to transition beyond traditional data collection and analysis methodologies and deliver faster turnaround times to their clients.

Data entry capabilities that enhance market research should include:

A technologically driven infrastructure and specialization.
Scalable operating and pricing models.
Manual and automated techniques.
A process-focused, efficient setup that adapts to market research objectives.

Sustaining Focus with Professional Outsourcing

With the undeniable impact that market research has on organizational growth, development, and success, research firms must employ the best available tools and techniques to expedite analysis and information sharing.

Outsourcing with the globally recognized data entry specialists at Data Entry Outsourced (DEO) enables market research firms to work with clean, easily read, and meticulously formatted information, thereby delivering more timely, trusted market insights to their clients.