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Lecture Business research methods (12/e): Chapter 1 - Donald R. Cooper, Pamela S. Schindler

Chapter 1 - Research in business. After reading this chapter, you should understand: What business research is and how it differs from business decision support systems and business intelligence systems, trends affecting business research and the emerging hierarchy of business decision makers, the distinction between good business research and research that falls short of professional quality, the nature of the research process. | Research in business Chapter 1 1-2 Learning Objectives Understand . . . What business research is and how it differs from business decision support systems and business intelligence systems. Trends affecting business research and the emerging hierarchy of business decision makers. The distinction between good business research and research that falls short of professional quality. The nature of the research process. 2 Pull Quote “Forward-thinking executives recognize that analytics may be the only true source of sustainable advantage since it empowers employees at all levels of an organization with information to help them make smarter decisions.” Wayne Eckerson, director of research, business applications and architecture group, TechTarget 3 Why Study Business Research? Business research provides information to guide business decisions 4 Research Should Help Business Respond to Change “Enterprises have long recognized the need to better sense and respond to business change. . | Research in business Chapter 1 1-2 Learning Objectives Understand . . . What business research is and how it differs from business decision support systems and business intelligence systems. Trends affecting business research and the emerging hierarchy of business decision makers. The distinction between good business research and research that falls short of professional quality. The nature of the research process. 2 Pull Quote “Forward-thinking executives recognize that analytics may be the only true source of sustainable advantage since it empowers employees at all levels of an organization with information to help them make smarter decisions.” Wayne Eckerson, director of research, business applications and architecture group, TechTarget 3 Why Study Business Research? Business research provides information to guide business decisions 4 Research Should Help Business Respond to Change “Enterprises have long recognized the need to better sense and respond to business change. What’s different today is that ubiquitous access to information and real-time communications have fostered an ‘always on’ business culture where decision making has become a ‘just-in-time process.’” Business Performance Management Forum Business Research A process of determining, acquiring, analyzing, synthesizing, and disseminating relevant business data, information, and insights to decision makers in ways that mobilize the organization to take appropriate business actions that, in turn, maximize business performance 6 Research Should Reduce Risk The primary purpose of research is to reduce the level of risk of a business decision 7 What’s Changing in Business that Influences Research Critical Scrutiny of Business Computing Power & Speed Battle for Analytical Talent Factors Information Overload Shifting Global Economics Government Intervention Technological Connectivity New Research Perspectives 8 Computing Power and Speed Real-time Access Lower-cost Data Collection Powerful .