Skip to Main Content

Data Resources for Business Research

Data & Data Resources

Data

  • "Originally recorded as a term in philosophy referring to ‘things assumed to be facts’, it is the Latin plural of datum ‘a piece of information’, literally ‘something given’. " [Cresswell, 2021.]
  • "The observations gathered from an experiment, survey or observational study. Often the data are a randomly selected sample from an underlying population." [2021, data.]
  • "Unprocessed factual information. It is frequently captured in laboratory experiments by a data logger, an electronic device that records data from a sensor or instrument over a period of time." [ 2020, data. ]

Data resources

  • "Data resources provide evidence for case study research. Conducting a case study involves gathering an extensive array of data resources related to the central phenomenon under investigation, that is, accumulating evidence about the case." (Mcginn, 2010 )
  • "Data resources may include documentation, archival records, artifacts, interactions, or direct observations; all can become evidence in case study research." (Mcginn, 2010 )

Power of Data

  • 90% of the world’s data was generated in the last two years.
  • The volume of data generated, consumed, copied, and stored is projected to reach more than 180 zettabytes by 2025. (Source: Statista)

  • Every internet user created 1.7 megabytes per second in 2020; 80–90% of the daily data is unstructured. (Source: IBM, CIO)

  • Data scientists spend 80% of their time finding, organizing, and cleansing data. (Forbes)

  • Poor data quality impacts more than 25% of companies’ revenue. (Source: Wakefield Survey)

Power of Data in Business

Power of Data in Business

  • Data is crucial for corporates to get informed, efficiently operate, and gain a competitive edge. (Sena & Ariyachandra, 2024)
  • Data-driven companies outperform their competitors by up to 20%. (Garg, 2023)
  • Data-informed product managers use quantitative data and qualitative information sources for decision-making (Indra, 2023)

Wealth of data in daily business can

  • Leverage/use some kind of data for understanding and analyzing business, industry, customers, initiatives, etc.
  • conduct Data-driven or Data-informed for decision-making, improving customer experience, enhancing return on marketing investment or support other business goals.
  • Use data to segment customers, to optimize campaigns, to build personalized experiences, to evaluate efforts, to understand trends, etc.
  • spark great creative ideas for building a marketing strategy, pricing a product, developing the next marketing campaign or driving the next ad.