National 5BusinessSQABusiness ManagementRevision NotesManagement of MarketingMarket ResearchTechnology and Market Research

Technology and Market Research (SQA National 5 Business Management): Revision Note

Exam code: X810 75

Lisa Eades

Written by: Lisa Eades

Reviewed by: Steve Vorster

Updated on

How technology supports market research

  • Technology plays a vital role in both the collection and analysis of market research data

  • Modern tools make research faster, cheaper and more accurate, allowing businesses to understand their customers and markets more effectively

Technology used to collect market research

Technology

How it is used

Online surveys and questionnaires

  • Can be created and shared using tools like Google Forms or SurveyMonkey to quickly collect customer opinions

Social media

  • Platforms such as Instagram, Facebook and TikTok allow businesses to run polls, monitor comments and analyse trends

Email marketing tools

  • These track how many people open or respond to marketing emails to measure interest in products

Website analytics

  • Software like Google Analytics records visitor behaviour, showing which pages or products attract the most attention

Mobile apps

  • Businesses collect data on customer preferences, purchase history and feedback in real time

Online reviews and ratings

  • Sites like Trustpilot or TripAdvisor provide customer opinions that can be analysed to identify strengths and weaknesses

Technology used to analyse market research

  • Technology also helps turn raw data into useful insights

    • Spreadsheets and databases are used to organise data and create charts for easy comparison

    • Data analysis software helps identify patterns and relationships in large sets of data

    • Artificial intelligence (AI) and data mining tools are used by larger companies to predict customer behaviour and future trends

    • Automated reporting includes software that can instantly create graphs, summaries and dashboards for managers to use in decision-making

Evaluating the use of technology in market research

Advantages

Disadvantages

  • Faster data collection

    • Online tools and social media surveys allow instant responses

  • Access to a wider audience

    • Technology can reach customers anywhere in the world

  • Easier to store and manage data

    • Digital storage keeps research organised and accessible

  • Accurate analysis tools

    • Software reduces human error in calculations and summarising results

  • Real-time feedback

    • Businesses can react quickly to customer comments or online trends

  • Can be expensive

    • Advanced software and analysis systems can be costly for small businesses to purchase, install and maintain

  • Risk of unreliable data

    • Online surveys may receive false or incomplete responses

  • Privacy concerns

    • Customers may be uncomfortable sharing personal data online

  • Requires technical skills

    • Staff may need training to use specialist programs effectively

  • Information overload

    • Too much data can make it difficult to identify what is most useful

Examiner Tips and Tricks

Be careful not to say technology replaces research – it improves it

Be clear about how tools like online surveys, data analytics, or social media help gather and interpret information

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    Author
    Reviewer
    Lisa Eades

    Author: Lisa Eades

    Expertise: Business Content Creator

    Lisa has taught A Level, GCSE, BTEC and IBDP Business for over 20 years and is a senior Examiner for Edexcel. Lisa has been a successful Head of Department in Kent and has offered private Business tuition to students across the UK. Lisa loves to create imaginative and accessible resources which engage learners and build their passion for the subject.

    Steve Vorster

    Reviewer: Steve Vorster

    Expertise: Economics & Business Subject Lead

    Steve has taught A Level, GCSE, IGCSE Business and Economics - as well as IBDP Economics and Business Management. He is an IBDP Examiner and IGCSE textbook author. His students regularly achieve 90-100% in their final exams. Steve has been the Assistant Head of Sixth Form for a school in Devon, and Head of Economics at the world's largest International school in Singapore. He loves to create resources which speed up student learning and are easily accessible by all.