Top Reasons Why Customized Research Reports Are More Productive Than General Reports

While the landscape of market research is wider, one of the most valuable and visible sources of market research are Customized Research Reports created by research firms. These research sources, though virtually, are available in almost every industry, domain and sector, and for an extensive range of issues (e.g., customer acquisition, risk management, employee collaboration, and so forth).

However, apart from being rather expensive- a traditional report runs into thousands- these sources and companies behind them cannot cater to what the majority of businesses need more than anything else: customized advice.

This is just because market research isn’t an issue; regardless of how comprehensive or in-depth the investigation might be. Instead, it’s a form of business intelligence. That is because companies that opt for market research don’t just want to know problems and solutions might look like. They are required to know how to get away with their specific problems and achieve unique objectives.

In plain words: Customized Secondary and Primary Research Reports are academic as well as actionable. This is because:

·   Custom market research focuses on a business’ particular marketplace rather than the “marketplace in general”- which is essential, as what may be applicable in one part of the country, city or region, may not be the case in another. Customize research makes this distinction, while secondary research cannot.

·   Custom market research pinpoints and targets different departments and groups that need answers. This is also vital because for each business the issues encountered by the sales team won’t be the same as those faced by product development, operations, finance, customer service, and so on. Custom research does it perfectly and offers relevant information they need on their terms.

·         It’s not abstract or speculative, but practical and data-driven- which turns it into a safe spend.

On the other hand, spending hundreds of bucks on general market research may or may not be a good investment. In addition to that, without the in-house expertise to activate and interpret the information, the report will yet be another document sitting on a shelf.

·      Custom market research reports are cost-effective because data collection methods and overall processes are linked to key priorities. For instance, if a business is in trouble due to excessive customer churn, it can allocate to its market research investment to address the issue.

To know more about the importance of customized research, Procurement Research Services and other business intelligence services, contact Penterra Analytics team today. You will have a quick chat with our experts, who are committed to helping you identify any market research opportunities that could better your business.