Quantitative Research: Understanding its Impact on Product Design
Quantitative research is like a compass for product designers, helping them understand what users like and do. It's not just about numbers; it's a powerful tool that helps create products that people really want.
Making Things Personal: A Winning Idea
A big discovery from a study by Epsilon: 80% of people like businesses that give them special experiences. This shows how important quantitative research is in figuring out what people like and making products that match their tastes.
Using Data to Be Better Than Others:
Quantitative research is more than just making things personal. A big study by McKinsey shows that companies that use data to make choices do better than others. They're 20% better than their competitors. This doesn't just help them get more customers, but also keeps those customers around six times longer. It also makes them 19 times more profitable.
Growing Smarter: Learning from Others
Quantitative research doesn't just help us understand what people do; it also helps us learn about the market. A report by Crayon says that businesses that look at their competition a lot are almost three times more likely to make a lot more money every year. This shows how important it is to learn from others and use that to make better choices.
Not Messing Up: Understanding What People Want
A big number from the Harvard Business Review tells us that 95% of new products don't do well because companies don't know what people want. Quantitative research can help stop this from happening. It makes sure we know what people want before we make something new.
Sorting People Out: Understanding Different Groups
Quantitative research is also good at helping us understand different groups of people. A company called Ipsos found out that 73% of businesses use this kind of research to know how big the market is and what different groups want. This helps them make better choices.
Finish Strong and Keep Learning:
Quantitative research is like a guide for product designers. It helps us make things that people really want and make better choices. It's like a map that shows us where to go to make good products. Remember to use it and keep getting better at making things people love.
