• Home
    • About Us
    • Our Services
      • Training and Consulting
      • Research and Data Analysis
      • Data Collection
      • Data Processing
      • Statistical Modelling
      • Survey and Polling
      • Market Research
      • Data Visualization
      • Pricing Plans
    • Templates
    • Blog & News
    • Publications
    • Contacts
  • Contact Info

    • Rr. Medar Shtylla, Kompleksi Kika, Kati 2, Tirana, Albania
    • (+355) 69 38 18323
    • [email protected]
    • 10.00 AM - 06.00 PM
    • Home
    • About Us
    • Our Services
      • Training and Consulting
      • Research and Data Analysis
      • Data Collection
      • Data Processing
      • Statistical Modelling
      • Survey and Polling
      • Market Research
      • Data Visualization
      • Pricing Plans
    • Templates
    • Blog & News
    • Publications
    • Contacts
  • [email protected]
  • (+355) 69 38 18323
GET STARTED

The City Stats
The City Stats
  • Home
  • About Us
  • Our Services
    • Training and Consulting
    • Research and Data Analysis
    • Data Collection
    • Data Processing
    • Statistical Modelling
    • Survey and Polling
    • Market Research
    • Data Visualization
    • Pricing Plans
  • Templates
  • Blog & News
  • Publications
  • Contacts
  • Shqip
  • English

Market research is the process of determining the viability of a new service or product through research conducted directly with potential customers. Market research allows a company to discover the target market and get opinions and other feedback from consumers about their interest in the product or service.

Companies use market research to test the viability of a new product or service by communicating directly with a potential customer. With market research, companies can figure out their target market and get opinions and feedback from consumers in real-time.

This type of research can be conducted in-house, by the company itself, or by an outside company that specializes in market research. The research includes surveys, product testing, and focus groups.

Benefit of Services

Types of methods we use for market research:

  • Face-to-Face Interviews
  • Surveys
  • Phone Research
  • Focus Groups
  • Online Market Research
  • Observation

What Each Includes?

Market Segmentation

Market segmentation is the process of dividing a target market into smaller, more defined categories. It segments customers and audiences into groups that share similar characteristics such as demographics, interests, needs, or location.

The Four Types of Market Segmentation:

  • Demographic segmentation
  • Psychographic segmentation
  • Behavioral segmentation
  • Geographic segmentation

Benefits of Market Segmentation:

  • Improves Campaign Performance
  • Informs Product Development
  • Reveals Areas to Expand
  • Improves Business Focus
  • Informs Other Business Decisions

Clustering Analysis

Cluster analysis is a statistical method for processing data. It works by organizing items into groups, or clusters, on the basis of how closely associated they are.

The objective of cluster analysis is to find similar groups of subjects, where “similarity” between each pair of subjects means some global measure over the whole set of characteristics.

Clustering is measured using intraplate and inter-cluster distance.

  • Intra-cluster distance is the distance between the data points inside the cluster. If there is a strong clustering effect present, this should be small (more homogenous).
  • Inter-cluster distance is the distance between data points in different clusters. Where strong clustering exists, these should be large (more heterogeneous).

They are different types of clustering methods that we use, including:

  • Partitioning methods
  • Hierarchical clustering
  • Fuzzy clustering
  • Density-based clustering
  • Model-based clustering

Factorial Analysis

Factorial analysis is a technique that is used to reduce a large number of variables into fewer numbers of factors.  This technique extracts maximum common variance from all variables and puts them into a common score.

There are different types of methods used to extract the factor from the data set:

  • Principal component analysis: This is the most common method used by researchers.  PCA starts extracting the maximum variance and puts them into the first factor.  After that, it removes that variance explained by the first factors and then starts extracting maximum variance for the second factor.  This process goes to the last factor.
  • Common factor analysis: The second most preferred method by researchers, it extracts the common variance and puts them into factors.  This method does not include the unique variance of all variables.  This method is used in SEM.
  • Image factoring: This method is based on a correlation matrix.  OLS Regression method is used to predict the factor in image factoring.
  • Maximum likelihood method: This method also works on correlation metrics but it uses the maximum likelihood method to factor.
  • Other methods of factor analysis: Alfa factoring outweighs least squares.  Weight square is another regression-based method that is used for factoring.

Decision Tree

A decision tree is a flowchart-like structure in which each internal node represents a “test” on an attribute (e.g., whether a coin flip comes up heads or tails), each branch represents the outcome of the test, and each leaf node represents a class label (decision taken after computing all attributes).

The paths from root to leaf represent classification rules:

  • A decision tree consists of three types of nodes
  • Decision nodes – typically represented by squares
  • Chance nodes – typically represented by circles
  • End nodes – typically represented by triangles

There are two main types of decision trees that we have:

  1. Categorical variable decision tree

A categorical variable decision tree includes categorical target variables that are divided into categories. For example, the categories can be yes or no. The categories mean that every stage of the decision process falls into one of the categories, and there are no in-betweens.

  1. Continuous variable decision tree

A continuous variable decision tree is a decision tree with a continuous target variable. For example, the income of an individual whose income is unknown can be predicted based on available information such as their occupation, age, and other continuous variables.

Interviews

Interview techniques are the practices you follow during an interview to convince hiring managers that you’re the best candidate for the role.

Types of interview techniques:

  • Video interview techniques
  • Phone interview
  • One-one-one in-person interview
  • Group interview
  • STAR technique
  • Panel interview

Let’s discuss your inquiry!

    Explore Services

    • Training and Consulting
    • Research and Data Analysis
    • Data Collection
    • Data Processing
    • Statistical Modelling
    • Survey and Polling
    • Market Research
    • Data Visualization

    Company Brochure

    For further information please download the company brochure.

    Download PDF

    Recent Posts

    PERSPECTIVES ON THE IMPACT OF PARENTAL BEHAVIOR ON THE CHILD DEVELOPMENTAL ASPECT 12 October, 2021

    Contact Us

    • Rr. Medar Shtylla, Kompleksi Kika, Kati 2, Tirana, Albania
    • (+355) 69 38 18323
    • [email protected]
    • 10.00 AM - 06.00 PM

    About Us

    The City Stats – Research Data Center

    ‘The City Stats’ is an innovative business in the field of data analysis and science that gives you answers to questions about your business.

    Contact Us

    • Rr. Medar Shtylla, Kompleksi Kika, Kati 2, Tirana, Albania
    • (+355) 69 38 18323
    • [email protected]
    • 10.00 AM - 06.00 PM

    Navigation

    • Training and Consulting
    • Research and Data Analysis
    • Data Collection
    • Data Processing
    • Statistical Modelling
    • Survey and Polling
    • Market Research
    • Data Visualization

    Privacy Policy

    • Privacy
    • Terms
    • GDPR
    • Disclaimer
    • Security

    The City Stats © All rights reserved.

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
    Cookie SettingsAccept All
    Manage consent

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled

    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

    Non-necessary

    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.

    SAVE & ACCEPT