Business decisions in modern times are being taken on the basis of appropriate data analysis and projections, which are generated by crunching the data. But business leaders need to stop and think once about the quality of the data; the most important factor because all the forecasts and predictions are done in the light of the data. So here are some points which should be kept in mind before starting data processing. They are: • The source of the data, i.e. survey/ public domain data etc. should be known correctly.

• Purpose of data collection: objective of data collection should be clear.

• Data collection method should not have any sampling bias.

• The nature and scope of the data should be clear. Read more at: Business decisions in modern times are being taken on the basis of appropriate data analysis and projections, which are generated by crunching the data. But business leaders need to stop and think once about the quality of the data; the most important factor because all the forecasts and predictions are done in the light of the data. So here are some points which should be kept in mind before starting data processing. They are: • The source of the data, i.e. survey/ public domain data etc. should be known correctly.

• Purpose of data collection: objective of data collection should be clear.

• Data collection method should not have any sampling bias.

• The nature and scope of the data should be clear. Read more at:

http://www.huffingtonpost.com/2015/05/27/simple-questions-about-data_n_7453668.html?ir=India&adsSiteOverride=in

There are two myths that need to be disproved about Marketing Research: Expensive and time intensive. The internet has two important sources of information: Firstly, the websites which companies, organizations and individuals have created to promote or communicate their products, services or views; secondly, user groups that are made up of people who have an interest in a particular industry or subject. A few tips work well for internet market research. One should draft a list of questions and ask the same questions of every customer, to obtain better comparisons and validate the data. There are many free online survey cloud options to collect information. One should look for a free package that provides a link to the survey which he can post the link on social networks and email out to the customer or subscriber base – ensuring to get a feedback from people. He may offer an incentive prize that will be appealing to the audience, if he wants to improve survey response rates. Read more at: 

In today's era of competitive world, it is less expensive to provide "great" service over "good service". The customer service company relies upon listening, analyzing and acting on it. Many organizations underestimate the impact and damage of various customer issues. This usually occurs because they are using data only from a single customer channel or taking into account their vocal customers only, limiting data to a single customer channel. If your organization works in silos, you may not have the complete picture especially if customers complain across multiple channels. This means if a company only counts the cases that complain on a specific channel, your view is limited to a small subset. Even if your organization counts all the complaints across all channels on a specific issue, it is likely that you'll still see a small percentage of the cases where customers are encountering these issues, because   majority of customers affected don't complain to the organization directly. In order to estimate more accurately and prioritize the impact of each customer concern organizations follows the following process. To know more:

http://www.informationweek.in/informationweek/news-analysis/271903/steps-measure-impact-silent-customers/

What is Six Sigma? 'Sigma' is a statistical term for measuring how far a product differs from perfection. 'Six Sigma' means six standard deviations between mean and nearest specific limit. The main goal for applying Six Sigma is to reach as close to zero defect as possible. Six Sigma can be approached on three levels: Metrics, Methodology, Philosophy

Read more at http://www.surveymethods.com/glossary/article_six_sigma_seg_l.aspx