141 Exam 1 Flashcards
Site analysis techniques
Techniques using secondary data to select best location for retail or wholesale operation
Index of retail saturation
Calculation describing relationships between retail demand and supply as ratio of sales potential per unit area of retail space
Data mining
Use of powerful computer analytical routines to dig through volumes of data searching for patterns
Neural networks
AI in which computer is programmed to mimic human brains processing information
Market based analysis
Data mining analyzing anonymous point of sale transaction databases to id coinciding purchases between products purchases and retail shopping info
Customer discovery
Involves mining data to look for patterns iding who is likely to be a valuable customer
Database marketing
Use of customer data to promote one on one relationships with customers and precisely target promos
Internal data
Data officiating in organizations and represent events recorded or generated by organizations
Proprietary data
Secondary data owned and controlled by organizations
Enterprise search
Search driven by internet type search engine focusing on data within organizations internal network
External data
Facts observed recorded and stored by an entity outside researchers organization
Respondents
Answer interview questions verbally or written question through any media delivery
Sample survey
Formal term for survey emphasizing respondents opinions represent larger target populations opinions
Sample error
Error arising because inadequacies of actual respondents to represent population of interest
Systematic error
Some imperfect aspect of research design causes respondents error or a mistake in execution of research
Population parameter
True value of a phenomenon within population
Respondent error
Respondent lying Or no response
Nonresponse error
Statistical difference b/w survey that includes only those who respond and a perfect survey would also include a list of who didn’t
Acquiescence bias
Tendency to maintain response style agreeing with viewpoints of the survey
Item nonresponse
Failure of respondent to provide answer to survey question
CATI
Computer assisted telephone interviews
Robocalls
Call conducted by auto dialed using recorded message
Coverage bias
Misrepresentation of population by survey results disproportionately represent one group over another
Random digit dialing
Telephone exchange and random numbers develop sample of respondents in landline survey
Crowdsourcing
Many many people invited to participate in project via internet or social networks, even a small % of completes generates a large sample
Pretesting
Screening procedure to iron out fundamental problems in survey design
Observer bias
Distortion resulting from cognitive behavior or action of a witnessing observer
Contrived observation
Artificial environment to test a hypothesis
Response latency
Time taken to chose between alternatives. Measures strength of preference