20 Aug In need of a 125 response/discussion to EACH of the following forum posts.

In need of a 125 response/discussion to EACH of the following forum posts. There are (3) different Forum posts. Agreement/disagreement/and/or continuing the discussion.The three interactive posts should each be substantial, relevant, and engaging. Original forums discussion/topic post is as follows: (Use/Cite references to support your ideas)

*** This posts are based off of these statements: We utilize sample data in many applications in business. For example, if you are creating a marketing plan for optimum sales you want to understand the risks so you may want to assess the mean and proportion in your data. Discuss sources for the data and how you would go about collecting the sample data..***

FORUM POST 1:

Hey Everyone

In this week’s forum we are discussing sources for the data and how to collect the sample data. In this we have found numerous methods of collecting the data that we need in any type of business. In affectively collecting this data you need to know what type of data you are in need of so that you are able to pull the proper samples of data. By establishing the need and can then look into the sources of data being experimenting, observing and surveying to make sure that you have the absolute precise data. You can utilize surveying by processing a personal response to questionnaire that are filled out by individuals about the topic that you are looking into. You can also process data collected through experimenting by presenting a trial of a product that can help with the current tempo of what data is related to the topic you are researching. Then you have the ability you observe the individual s that you are looking to collect data from while they are utilizing a certain product that you are wanting to see the reaction that these individuals have and collect this data for processing. All in all, I think that in today’s highly technologically advanced age we are able to collect data from as many avenues as possible. This making if possible to stay ahead of the competitors around you using this data that you have collected to make sure that you maintain a level of competitive edge on the competitor that is in the same market as you.

FORUM POST 2:

Sampling data can be acquired in many ways. It depends on what you are collecting data for which will decide how you will sample the data. There are numerous sampling techniques that you could use that can be grouped into two major categories. Probability sampling and Non-probability sampling. Probability sampling includes simple random, stratified, systematic, cluster and multi-stage. Non-probability sampling includes convenience, purposive, quota, and referral sampling. Probability sampling uses randomization where every piece of data has an equal chance to be a part of the specified sample. Non-probability sampling is not based on randomization meaning that you have to input specified parameters in order to receive the needed results. Probability sampling is mainly used when you have a data set that you can generally breakdown into specified parameters within a large range of data to meet your needed sample. Non-probability sampling is mainly used when you input very specific parameters into a data set to receive the results you are looking for.

FORUM POST 3:

Class,

Good afternoon I hope all is well. Data sampling is a key component for a lot of preplanned business procedures. In this week’s case, we will be discussing how it can and should be used in an optimum sales market plan. Depending on the size of your business, there are many ways to go about this, for larger businesses, I would suggest using pivot tables created by headquarters based off of data collected from different location retailers, see what products can be sold at a larger sale to try to help sell those products and liquidate some of your assets. An emailed survey could also work for this platform. You email customers, seeing what items they are most likely interested in buying, and from there based off of location and product demographic, you can help determine what products are safer to put on sale, and which ones are not.

The occurrence of sales is important too. After a buyer purchases product, you can sample survey them and ask what materials will they be looking for next, and when would they more than likely look to buy certain products next. Selling certain promotions and in order to activate the promotion or giveaway, you can have customers fill out a questionnaire. The questionnaire can consist of when they are looking to buy a certain product, if they have bought from you before and if so, what did they buy, what competitors do they buy from and what do they buy from that locations. Etc.

This is all credible, reliable data because it came right from the customers. Data median and mean are also concepts that you can incorporate into your decision model but this may invest more risk factors into a decision making process.