Market research is a process of gathering, analyzing and interpreting information about the needs and wants of the customers. Market research helps companies to understand consumers better in order to maximize profits.
Market research analytics is the process of applying statistical analysis on market research data in order to generate business insights. It can help companies in understanding their customers better, predicting future trends and make strategic decisions accordingly.
Market research involves collecting data from various sources and analyzing it. This includes generating reports on trends in the market, identifying competition and their strategies, finding out what consumers are looking for in products or services and so on. The analysis is done using statistical tools such as regression analysis or factor analysis.