Data Gathering And Market Research

Running Head: DATA COLLECTION AND MARKET EXPLORATION 1

Data Collection and Market Exploration

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DATA COLLECTION AND MARKET EXPLORATION 2

Data Collection and Market Exploration

Introduction

In the world today, different people engage in different kinds of regular occupation or

profession for the purpose of generating income that is able to pay their bills and live a

comfortable life. It is always the desire of every organization to offer the best in the market for

their esteemed consumers and as a result, a company is willing and ready to invest in methods

that will help them maintain a good reputation in the market world and at the same time are

ahead of their competitors in a healthy way. Before engaging in any kind of business or

transactions, it is important for any organization to first have enough information about a product

it would wish to introduce to the market and how well it anticipates its reception by the

consumers. Two elements that happen to be part of a driving force in any given company

involves the data gathering and market research. The two are to be carried out professionally as

the end results contribute greatly to the success of any company. Different products and services

are received differently in the market depending on the customer’s need (Li et al., 2015). This

paper focuses on the quantitative research based on biodiesel data gathering, how to interpret

gathered data, as well as how to analyze and apply the same data.

Data Gathering

According to Carlson (2016), data gathering involves the collection and measuring of

data from different sources in order to complete and bring out a clear picture of an area of

interest. This process makes it easy for organizations to answer certain questions within the

company, evaluate outcomes and be able to tell what the future has in store for them and the

trends. It is very important for any organization to ensure accuracy is observed during this

DATA COLLECTION AND MARKET EXPLORATION 3

exercise as it assists in the maintenance of honesty of the research, contributing to reliable

business decisions and guarantees quality. As such, the appropriate method revolves around the

qualitative research grounded in primary data collection by applying semi-structured in-depth

discussions. Here, the interviews play a vital role in biodiesel data gathering to help provide

responses to the study questions. One-to-one qualitative interviews regarding various companies

dealing with such fuels help to explore the research on this topic and used as a substitute for

group discussions. In-depth face-to-face consultations ensure acquisition of detailed information

on individual perspectives and attitudes gave that biodiesel is both sensitive, as well as the fact

that it’s almost impossible to find potential interviewees. The biodiesel production of U.S has

enlarged from 343 million gallons recorded in 2010 to 1.278 billion gallons in 2014, which is a

total increase of 272% for a span of five years under the investigation. Manufacture of biodiesel

covering the first ten months of 2015 attained a volume of 1.048 billion gallons, which is close to

the total production during the first ten months of 2014. In this regard, the U.S. became a net

wholesaler of biodiesel in 2013 (Li et al., 2015).

During the period between 2007 and 2012, the U.S. became a net exporter of biodiesel

while translating to a net importer from 2013 to 2015. Imports improved from 2012 with a record

of 35.8 million gallons to 2013 covering 342.4 million gallons. This substantial upsurge in

imports during 2013 corresponded with a domestic production of 1.359 billion gallons, which is

the highest achieved level in the U.S history. Mostly, this state is driven by numerous factors

such as the demand to meet progressive biofuel and total renewable fuels standards, which in

turn affected by biodiesel tax credit, rising access to external biodiesel and favorable blending

finances. With this method in place, it provides the study with relatively demanding and reliable

outcomes regarding examinees’ attitudes and opinions, because respondents have an opportunity

DATA COLLECTION AND MARKET EXPLORATION 4

to react freely in an open-ended manner. Therefore, the researcher obtains all necessary data

from the ground, which can now be acted upon (Hajjari, Tabatabaei, Aghbashlo & Ghanavati,

2017).

One-on-one interviews comprise the generation of a lot of data. Notwithstanding the

assortment of study strategies, there are additionally unique methods for creating a record of

information gathered in the interview or focus group, for example, notes written by hand or

visual-recording. In case the research is centered on audio or visual-recording, the data must be

transcribed before the analysis process. For instance, it can take knowledgeable analyst 8 hours

to interpret one 45-minute sound chronicled dialogue, a procedure than creates more than 10

pages of written discussion (Hajjari et al., 2017).

Numerous scientists uphold a file of "field notes" to supplement sound taped dialogues.

Field notes enable the investigator to keep record and statement upon impressions, practices, and

nonverbal signs that are not satisfactory and noted through the sound footage; they are normally

written by hand when interview process is underway. Field notes can offer useful background to

the analysis of sound taped information and can promote the scientist to remember situational

elements that might be critical amid information examination. Such notes can be informal, but

rather they can be maintained and secured just like sound tapes and transcripts, as they contain

sensitive data and are important for analysis purposes.

Data Interpretation

Importantly, every data collected is considered a vital message and which needs to be

uncovered. Hence, this can be done through information compression. Translation of the

information relies on the hypothetical viewpoint taken by analysts. Specialists utilize social

DATA COLLECTION AND MARKET EXPLORATION 5

constructivist hypothesis since it accepts that conduct is socially built. In this sense, the

researcher engages in creating categories, patterns, and themes in order to divide and label the

data collected. Through the entire process, the scholar starts to comprehend the underlying

phenomenon studied. However, the researcher must be critical due to the fact that the alternative

interpretations are characteristically possible. Further, the data collected through the interviews,

the scholar first transcribes the interviews. Then, the data is subjected to a careful reading

through them along with notes to ascertain some themes and patterns. By doing so, the

researcher is able to isolate obvious characteristics, which allows the researcher to establish the

underlying variance in the data collected through the interview. Also, this way the investigator

can introduce the data to the coding process for analysis purposes (Bot, van Donk, Pennink, &

Simatupang, 2015).

Analysis and Application of Data

The essential method applied in biodiesel analysis entails the coding technique that is

well known for classification and dissection of the gathered information. This is possible after

the researcher has conducted activities such as transcribing the interviews, careful data reading

together with notes to expose themes and patterns used for the interpretation process. Ideally, it’s

worth noting that coding technique is possible through the application of Excel software.

Consequently, the data is classified in an expressive and clear manner which in turn helps later in

the process to create a connection between pieces of information and develop the bigger picture

out of this data.

When the majority of the transcribed discussions have been interpreted and tested, it’s

time for coding. Field notes gathered in the consultation can be a helpful correlation of data to

DATA COLLECTION AND MARKET EXPLORATION 6

encourage this procedure, interpreting, and coding can evoke memory inclination with respect to

nonverbal or natural situations that may impact bias of data. Coding alludes to the distinguishing

proof of subjects, issues, likenesses, and contrasts that are exposed through the member's stories

and interpreted by the scientist. This procedure enables the analyst to start to understanding the

world from each member's viewpoint. Coding need to be done through hand on a written account

of the transcript, by creating notes in the margin or by highlighting names of the segments of

content (Carlson, 2016).

Alternatively, the question areas from the discussion guide are used as overall codes, and

subsequently, they are reduced into sub-codes to offer the researcher with more systematic

categorization. On the other hand, while working through transcripts, appropriate sections of text

are cut and pasted under the conforming code in Excel with required labels to isolate the

respondents regarding the biodiesel data and refer back, if needed. Significantly, every group

keyword is stressed to examine the frequency of their presence throughout all interviews. The

transcripts are inspected at least three times to attain the data saturation level. After the collection

of the necessary data and analysis done, a reliable report comprising the study problem, data

gathered and outcomes have to be produced. It needs to attain logic and must be persuasive and

embracing the purpose of the study and the target audience (Bot, van Donk, Pennink, &

Simatupang, 2015).

The application of the data notes that biodiesel amalgams are associated with codes as

other transportation fuels. As such, blends of up to B5 consisting of 5% biodiesel and 95%

petroleum diesel, which happens to be petroleum diesel and used in prevailing diesel

infrastructure. In relation, blends above B5 may need extra requirements. Storing blends above

B20 at a wholesale station is rare because it includes several additional requirements and there is

DATA COLLECTION AND MARKET EXPLORATION 7

less compatible equipment available but some underground storage tank (UST) holders may

store B100 for blending or for direct use (Balogh, Bai, Popp, Huzsvai, & Jobbágy, 2015).

Conclusion

The biodiesel production is still very young in the energy industry and it is considered a

small industry compared to the likes of fossil and corn ethanol industry. Regardless of all these,

biodiesel has been picking up very well in the market even amidst the irregular government tax

policy incentives. Most of the profits that are always registered in the industry are always a result

of government policy incentives. Data gathering strategies are closely related to the type of

research that is being carried out as the customs are quite strong and have strong an analytical

foundation. In the changes that are always witnessed in the world of market research, these

customs are always forgotten about as science and technology create new methods available. The

move to more advanced methods of surveying customers is of benefit in various ways and saves

a lot in terms of cost for any organization. In the energy body, there is a 10% target of the

renewable energy directive that must be met by states using these kinds of fuel (Balogh, Bai,

Popp, Huzsvai, & Jobbágy, 2015).

DATA COLLECTION AND MARKET EXPLORATION 8

References

Balogh, P., Bai, A., Popp, J., Huzsvai, L., & Jobbágy, P. (2015). Internet-orientated Hungarian

car drivers’ knowledge and attitudes towards biofuels. Renewable and Sustainable Energy

Reviews, 48, 17-26.

Bot, P., van Donk, D. P., Pennink, B., & Simatupang, T. M. (2015). Uncertainties in the

bidirectional biodiesel supply chain. Journal of Cleaner Production, 95, 174-183.

Carlson, R. (2016). Estimating the biotech sector's contribution to the US economy. Nature

biotechnology, 34(3), 247.

Hajjari, M., Tabatabaei, M., Aghbashlo, M., & Ghanavati, H. (2017). A review on the prospects

of sustainable biodiesel production: a global scenario with an emphasis on waste-oil

biodiesel utilization. Renewable and Sustainable Energy Reviews, 72, 445-464.

Li, B., Ou, L., Dang, Q., Meyer, P., Jones, S., Brown, R., & Wright, M. (2015). Techno-

economic and uncertainty analysis of in situ and ex situ fast pyrolysis for biofuel

production. Bioresource technology, 196, 49-56.

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