By Paul Pannone
The eWedNewz investigation into flawed data continues, unveiling some disturbing incidences of total ineptness on the part of those creating surveys. eWNz zeros in on Market research done by college graduates, students and others that have little or no experience in running a small business. They are not experts in areas they delve in– yet think they have the credentials to create misleading conclusions that produce harmful results.
To the far side media companies that produce surveys seem to do so begrudgingly, as a matter of service to their advertisers. These companies do not sell the data or survey results, they sell advertising space. The internal studies conducted become available to sales teams to decide what information is spun to stimulate sales. In one instance we found information that was total trash– so far off base that it is not worth mentioning. It turned out the methodology and field criteria skewed the numbers into total lunacy. It left us to wondered what purpose the survey served at all. Luckily the occurrence is infrequent but the fact it does happen is cause for concern.
So far in our investigation we’ve questioned cited data provided by IBISWorld used in a story by TheStreet.com claiming Men’s Wearhouse rents one out of every two tuxedos in the US market. The result of the eWNz probe was a re-examination of the data provided and a clarifying statement.
eWNz is digging deep, watching how some are ”updating information” leaving us to wonder, if the data they tout is so good, why does it need updating? We plan to turn up the heat on companies that sell data used by small businesses harmed by guidance provided by the information. We’re probing case studies that say they bet the farm on data they thought was credible – and lost.
What is your experience with data? Post your thoughts here or contact us at Paul@ewednewz.com or 516-312-0090
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