CMI Research Methodology
While discussing ourresearch methodology, we can exclusively describe it as a combination of primary and secondary steps. While describing the steps that come under it are as follows:
Information Securing
- It starts by collecting market data or any relatable information collected through different methods and sources.
Information Analysis
- This step involves inspecting and portraying all the information obtained from the action before it. It also bounds the analysis of data variances observed across various data sources.
Market Formulation
- Market Formulation is the required placement of data points at appropriate market spaces to conclude workable conclusions. Analyst perspective subject matter expert-based exploratory form of market sizing also plays a major role here.
Validation and Publishing
- To start with validation, it is the most important step in the process. Intricately designed techniques help us finalize data points for final calculations.
Information attainment is one of the most extensive stages in the research process. The techniques can be roughly classified into five sections as stated below:
Purchased Database:
- Includes company databases such as Hoover's: This database identifies financial information, industry competitive landscape, and structure of the market participants. Market sizing is the main step, mostly in the case of commodity-flow plans.
- Industry statistics, KoL opinions formulated conclusions are accessed from industry databases such as Factiva.
- Additionally, sources include SME journals and pertinent databases from third-party vendors to gain insights into usage rates, procedure statistics, potential market-related statistics, information on unmet needs, regional expenditure patterns, and investment or opportunity-based statistics.
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CMI's Internal Database
CMI's Internal Database accommodates internal audit reports and archives. It includes our internal database of data points collected from previous research and studies and information made available through our database management team.
Secondary Sources
External parties access and use these secondary sources for many different purposes. The final deliverable will include a list of secondary sources and the information extracted from them. Examples include white papers and government statistics. These databases are not created explicitly for research or statistical analysis but are valuable sources of information for decision-making, accounting or reporting. Some examples of such secondary sources are CRM, HRIS, Inventory Management Systems, Financial Operation Production Market Analytics Research and Development Sales and Customer Services Supply Chain and Quality Assurance Databases.
Third-Party Perspective
Secondary sources of internal databases from a third-party perspective include market derivation through investor analyst reports, broker reports, academic commentary, government quotes and wealth management publications. Market Research, Benchmarking, Customer Analysis, collaboration and Partnerships, Compliance and Auditing, Financial Analysis and Public Reporting are common ways external parties may utilize these databases.
Primary Research:
Primary research, also known as primary data collection, is a process of gathering new and original data from the source for a particular research purpose. The survey derives direction from extensive secondary research. Secondary research is a continuous process conducted at each level along the value chain.
Information or Data Analysis
- Information or Data Analysis examines and interprets data to extract meaningful insights, identify patterns, and draw conclusions. It helps transform raw data into actional knowledge. It helps identify variables and establish the market impact and trends. We can analyze future opportunities and market penetration rates by understanding product commercialization and regional expansion. It guides us in tracking technological advancements in separate segments. Analyzing regulatory trends, changes in market dynamics, and sustainability strategies establishes future growth. Based numbers can be shown by analyzing company revenues, market shares, and derivation of market estimates.
The following techniques outline our research methodology:
- Model selection: demand-based bottom-up approach, usage rates-based approach and mixed approach (top-down and bottom-up).
Penetration modelling:
1. Estimating and deciding penetration through analyzing product features, putting forward a pricing offer, and the availability of internal and external substitutes.
2. Heuristic estimation of yearly sales by getting to talk:
- Healthcare professionals
- Industry experts and External Experts
- Intermediary Entity
- Product sizing and forecasting by pursuing a spreading model build on an S-curve graph.
- Analyze the current usage rates and patterns to obtain substitution rates.
- Regression Variable analysis:
1. Selecting variables and assigning impact to determine growth.
2. QFD modelling for market share assessment.
3. Referring to historical data to establish base estimates
4. Using exponential smoothing for forecasting
- User size-based perception:
1. Regulating and analyzing current needs and penetration to evaluate the revenue.
2. Exercising failed needs and cap rates to determine growth.
- Trend analysis which is based on year trending models.
About Us:
Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains. Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.
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CMI Consulting LLC
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