Qualitative Research

Qualitative research explores the "quality" of a thing, the how and the why of things. It draws meaning out of text as opposed to numbers. Wikipedia, the free, on-line, encyclopedia has quite a long article on qualitative research. If you're interested in it, read the whole article and follow its references and links. Wikipedia say:

Qualitative researchers aim to gather an in-depth understanding of human behavior and the reasons that govern human behavior. Qualitative research relies on reasons behind various aspects of behavior. Simply put, it investigates the why and how of decision making, not just what, where, and when. Hence, the need is for smaller but focused samples rather than large random samples, which qualitative research categorizes data into patterns as the primary basis for organizing and reporting results. Qualitative researchers typically rely on four methods for gathering information: (1) participation in the setting, (2) direct observation, (3) in depth interviews, and (4) analysis of documents and materials.

Qualitative research provides another rich set of analytical tools. The entrepreneur can use them to analyze his business model, customer satisfaction, and his relationhships with his suppliers and his employees. All facets of his entreprise, really.

What do you think? Are you interested in this? I'll talk more on the relationship between qualitative and quantitative research in my next post. Post a comment.

Entrepreneurship informs all my professional activities. For entrepreneurial real estate, go to www.yourstopforrealestate.com/blog and for entrepreneurial writing go to www.kearneymusicschoomurders.blogspot.com.

Statistical Sampling

From Wikipedia, the free on-line, encyclopedia, we have this:

Sampling is that part of statistical practice concerned with the selection of individual observations intended to yield some knowledge about a population of concern, especially for the purposes of statistical inference. Each observation measures one or more properties (weight, location, etc.) of an observable entity enumerated to distinguish objects or individuals. Survey weights often need to be applied to the data to adjust for the sample design. Results from probability theory and statistical theory are employed to guide practice.

Entrepreneurs have to be knowledgeable about statistical sampling so they can evaluate statistical studies about their market or their industry. Also, if entrepreneurs are thinking of designing a study to find out some information or other about their market, then they're going to have to know about sampling.

There are dozens of ways to sample, so consult a professional. If you're interested in sampling, you should look at the whole Wikipedia article and follow the links and references. Also, post a comment on this blog.

Entrepreneurship informs all my professional activities. For entrepreneurial real estate, go to www.yourstopforrealestate.com and for entrepreneurial writing go to www.kearneymusicschoolmurders.blogspot.com

Statistical Sampling

Wikipedia says:

Sampling is that part of statistical practice concerned with the selection of individual observations intended to yield some knowledge about a population of concern, especially for the purposes of statistical inference. Each observation measures one or more properties (weight, location, etc.) of an observable entity enumerated to distinguish objects or individuals. Survey weights often need to be applied to the data to adjust for the sample design. Results from probability theory and statistical theory are employed to guide practice.

There's more to read in their entry.

I don't encourage entrepreneurs to go out and do surveys. They should, unless there's a compelling reason not to, rely on available research. Surveys, even if done yourself, cost money, resources better spent on other tasks. After all, what you want to do is create a baseline--what a market is like without you in it. That way you can measure your progress. That can best be done by extrapolation from existing literature. But if they do want to do some kind of survey, they should go to an expert rather than trying to figure it out on their own. They have plenty of other things to figure out on their own. Believe me, that used to be my business.

For Real Estate 2.0 see, www.yourstopforrealestate.com/blog and for Writing and Pubulishing, 2.0, see www.kearneymusicschoolmurders.blogspot.com