What is a syndicated data?

What is a syndicated data?

Syndicated data refers to general market data that isn’t specific to any one client. An aggregation of retailer and product data, syndicated data is generally collected by market research firms and then purchased by businesses who have a vested interest in the market.

Is syndicated data secondary data?

According to Curry (1993) and Kolb (2008), syndicated data is a form of external and secondary data supplied in a standardized format and ready-to-use routine information made available to multiple subscribers known as a syndicate in a common database, which means the information is not tailor made to meet the needs of …

What are two types of syndicated research?

There are basically two types of syndicated research:

• the syndicated research initiated by a market research institution or JIC (Joint Industry Committee) and.
• the syndicated research conducted as an omnibus – i.e. planned and regular.

What is syndicated research?

Syndicated research is research that is independently conducted, published and sold by a market research firm.

What is an example of syndicated data?

Syndicated data is an aggregated collection of product retail sales activity across a chosen set of parameters. For example, retail direct data provides information about a specific product from a particular retailer like Meijer, Target, Whole Foods or Wegmans.

Why is syndicated research important?

Syndicated research builds the understanding around an industry to help determine where to spend time and focus efforts. It also helps organizations identify trends or build the connections between their needs and the needs of others to prioritize strategies.

What sources of syndicated data would be useful?

For example, retail direct data provides information about a specific product from a particular retailer like Meijer, Target, Whole Foods or Wegmans. Syndicated data compares product information across all stores, food categories, distribution channels, or geographic markets.

What type of syndicated data will be useful in addressing the marketing research problem?

Household/consumer data will be useful in addressing the marketing research problem because we can directly collect information from consumer and we will obtain exact & specific information that reduces the error of marketing research problem.

Why is syndicated research conducted?

Syndicated research is conducted by market research companies for various purposes: To update their knowledge base on key industries on which they specialize or wish to specialize. To improve visibility of their company by using syndicated research as means to get publicity. To show-off the skills of the company.

What are syndicated resources?

Definition of Syndicated ResearchSyndicated Research is a research funded by market research companies and the results of such research is made available to everyone who wishes to purchase it. The result of such research is often provided in the form of reports, presentations, raw data etc.

What is IRI syndicated data?

Syndicated Panel Data Available from Nielsen, IRI, and SPINS for demographically balanced sample of 120,000 households who scan UPC coded purchases in-home. Provides a complete picture of household buying behavior across all retailers, even those who don’t provide store data to the vendors.

Is syndicated data primary data?

They can either offer raw data or full reports for purchase. Syndicated research should be used for two main purposes: exploration and context. It’s not meant to be the primary means for insights—which is why it’s not the one called primary research.

What is syndicated data and how does it work?

With syndicated data, both the process of collecting and analyzing the data and the data itself are standardized, firms supplying syndicated data follow standard research formats and uniform reports that enable them to collect the same standardized data over time at periodic intervals.

What are the disadvantages of secondary data?

The disadvantages of secondary data includes accuracy and relevance of data were limited, the nature, objectives, and the methods were used for collecting the secondary data and that will not be an appropriate for the current situation and the secondary data were lacking for accuracy, or they are not completely dependable or present.

What is syndicated data and why is it important for CpG?

This makes syndicated data a crucial tool for any company looking to succeed, especially those operating in the CPG industry. While syndicated data is used by many industries — most notably in the entertainment and social media fields — it’s become essential for CPG and CPG-adjacent companies looking to succeed in the 21st Century.

Which syndicated data companies operate on the broadest scale?

As such, only three major third-party syndicated data companies can operate on the broadest scale: Nielsen, SPINS and IRI. The core operations of these organizations focus on syndicated and aggregated data sets, while leaving insights and reporting to individual sales and marketing teams that subscribe to their services.