Role of Research in Important Areas

Research is not an existing bag of methods. Research is not just an encyclopedic collection of various facts. Research is purposeful investigation. It gives a structure for decision making. Through proper research, a professional can speedily get a synopsis of the existing situation that enhances his information base for making sound decisions influencing future operations of the organization.

What is the Role of Research in Important Areas?

Following are some of the key areas in which research has an important role.

Marketing: For marketers, research is not just utilized for the purpose of learning, it is also a vital element required to make good decisions. It is “the process or set of processes which links the buyers and end users to the marketer through information – information employed to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; keep track of marketing performance; and enhance understanding of marketing as a process.

Production: Research makes it possible for a business to decide on what to produce, how much to produce, when to produce, and for whom to produce in the area of production. Research tools are also of tremendous help in quality control, and setting up optimum inventory level.

Strategy Making: Research can inform and help shape business strategies. Researching can give or stimulate strategic planning. Being aware of what competition is doing and the direction they are headed can inform present business strategies. Carrying out business research in the area of consumer preferences unveils what products need further development and what features makes sense to add.

Government: Research lays the foundation for all govt policies in the economic system. For instance, research is utilized for developing the union finance and railway budget annually. Research is employed for economic planning and ideal utilization of resources for the growth and development of the country. Research is also required for systematic collection of details on the economic and social structure of the country. This kind of information reveals what is happening to the economy and what shifts are taking place.

Advertising Effectiveness: Organizations make use of research to ascertain the success of their advertising. For instance, an auto manufacturer may wish to know what percentage of the people saw its most recent tv commercial. The auto company may find that more people become aware of its advertising the longer the tv ad runs. The organization might need to run its tv commercials at different times if few people have seen the commercials. Businesses also utilize research to see if consumers recall the message or slogan of their advertisements.

Networks, systems and services, distributed computing: The research teams in this area help to define what’s going to be the future of the Internet as a communication infrastructure, as well as a computing infrastructure in the broad sense. The researchers are interested in the creation of innovative communication protocols as much as in the modelling of existing networks, to be able to better evaluate their performance and size them to meet needs.

Risk Management: Understanding current conditions can lower risk. Research provides parameters in which a business can prosper and manage risk. Researching trends and market conditions can find out the need for increased insurance, alternative shipping and transportation requirements or the need to assess and sell assets.