Quantitative vs. Qualitative Research: Exploring Definitions and Types

Research is a vital component of any organization's strategy. It enables companies and industries to identify gaps, plan for future changes, and develop effective strategies. Research is crucial for various business and market functions, allowing companies to gain a competitive advantage over their main competitors. Market research involves collecting, analyzing, and interpreting information about a market within any industry, using this data to improve efficiency, increase profits, and reduce costs.