The collection and organization of the data could be seen as the most critical step in the research process. First, discuss the difficulties of collecting a dataset in which a person’s exposure to all media is too cumbersome, including why Nielsen failed to compile such a dataset. Choose a few of the ten advertising channels and discuss how the researchers estimated each person’s exposure to the retailer’s ads in that channel. Discuss whether each one was measured accurately. Discuss the concept of bias and why that would be worse than imprecision. (If the estimate of ad exposure is unbiased, even if it is imprecise, the estimate of the effect of advertising on sales is likely to be unbiased.)
Data collecting is a tiring and difficult task, this can be
explained through below points
1) Error in data
While collecting data this is the most common type of challenge
that data retrievers can face, so after gathering of data, the
person needs to verify and validate the same
2) Quality of data
Sometimes the quality of data retrieved is not up to a level that
satisfies the aim with which it was collected, so this may require
some extra efforts on the quality side
3) Outdated sources or traditional sources
This may be the first thing that a data collector may encounter,
collecting data from traditional sources may be difficult as they
may be outdated
4) Misleading information
sometimes the information collected may be misleading and may end
up in wrong conclusions, thus causing distraction from the
path.
5) Cost
Data collection involves cost, this may lead to sometimes crossing
budget limits as it requires time, people and facilities for
gathering data.
Now discussing a few advertising channels with respect to the
level of exposure to the public
1) Pay per click marketing
Now in this type of mode, major players like google ad &
Facebook ads exit as dominating force. It is the choice of the
viewer to choose to click on the advertisement link and view the
content. So a person only gets exposed to the ad when they click
it.
2) Social media
This is another type of medium through which organizations are
interacting with consumers, sites like youtube are an example of
such type. The exposure level in this type is quite high as social
media users generally encounter ads in every video.
3) Email or message marketing
In this type companies usually sends emails and messages to users,
so ultimately it is a forcible type of medium in which the user is
left with no other choice to delete if they don't like the ad
4) Word of mouth
Now this includes promoting products door to door or on-call,
provide user knowledge about the product. Exposure level is very
high in this type of marketing
Bias is illogically preferring someone or something which might
not be good and is unfair. Bias can alter decisions and also lead
to wrong decision making ignoring the facts or evidence. It can be
conscious or unconscious.
Now bias can be worse than imprecision because it may lead to wrong
decision making which may provide harmful results. Information
generated will be false yielding inaccurate results. So it is
always better to develop your perspective or judgement through
unbiased approach.
The collection and organization of the data could be seen as the most critical step in...