© 2015.  Qessential Medical Market Research LLC. All rights reserved.

What We Do

We work closely with our clients to make certain all results gathered from market research studies are actionable. Essential Analytics  is a unique set of advanced statistical techniques that can be applied to research data, enabling greater insights than would be possible using descriptive statistics alone. It is our intricate knowledge of these scientific methods, combined with a rigorous protocol and real-world knowledge that separates our analytic offerings from those of other firms.

Essential Analytics  services include the following:

  • Factor Analysis

  • Stated vs. Derived Importance

  • Key Driver Analysis

Services

  • Competitive Perceptual Mapping

  • Correspondence Analysis

  • Ad/Promotional Effectiveness Studies

  • Choice Modeling/Conjoint Studies

  • Patient Flow Modeling

  • Market Sizing

  • Market Segmentation/Cluster Analysis

  • Price Point Analysis

  • Latent Class Analysis

  • Structural Equation Modeling

  • Non-Parametic Statistics

Driving Greater Insight

Qualitative research techniques have long been used to develop hypotheses, generate ideas, and understand attitudes. Quantitative methods, on the other hand, have been used to confirm markets and recommend a final course of action.  

 

Not all important decisions are afforded the time and expense of a traditional qualitative/quantitative approach, however.  Often, business decisions must be made quickly, with limited information available.  Market research, if conducted at all, may be feasible only on a limited scale, effectively eliminating large quantitative studies from consideration.

 

Leading qualitative researchers make use of statistical techniques for potentially greater insights than are feasible using basic descriptive statistics.  Nonparametric tests are statistical methods that do not require assumptions about the shape of the underlying distribution.  As such, they are often practical for use with small samples.  While these results will not allow researchers to generalize about markets in the way a quantitative study would, they do help to illustrate if observed results in a small sample are greater than or equal to what would be expected by chance.  This, in turn, adds greater context to numeric data gathered during focus groups or IDIs. 

 

We recently addressed this issue in a presentation (“Using Nonparametric Statistics to Drive Greater Insights from Qualitative Research”) that we made at the PMRG Institute held in Philadelphia last October.  As the premier community for healthcare marketing research professionals, the Pharmaceutical Market Research Group serves U.S. and global client researchers and service providers. Hundreds of medical manufacturers and researchers attended the event. 

 

This session introduced participants to four different nonparametric techniques, and showed how the results can be used to add insights within the context of qualitative studies.  It also showed the impact of using these often overlooked statistics, and how conclusions and business decisions may be altered as a result. 

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