Res 341 - Research Process

The Research Process

Learning Team B

University of Phoenix

RES/341

April 11, 2011

Professor Michael D. Miner

The research process

Learning Team B will identify a research issue, opportunity, or problem from the Real Estate data set. The data will consist of at least 30 or more observations of ratio or interval scale data from one of the provided data sets. This paper will include a definition of our selection using quantifiable measures. Additionally, this paper will include the following steps of the business research process that must be followed for addressing or finding a solution to our selected issue or problem: Purpose of the research; Explain why the research problem is important; Explain what question is answered by our research; Research hypothesis; Defining operational definitions for each variable; Identifying the variables to be tested; Defining the level of measurement for each variable; and defining the measurement scale for each variable.

Acme Realty is currently the second largest seller of homes in the local market. Having examined the total existing local inventory, the research department has begun to look at ways in which we can increase the company's local market share. One of the key areas they have targeted is information efficiency. Getting Acme agents the data they need and, more importantly, in more manageable format is a cornerstone to boosting sales and increasing customer satisfaction.

Purpose of research

The research problem Acme is addressing is how to allow agents to do more efficient customer specific research. Knowing how many houses exist within a certain price range and having that information easily accessible currently requires each agent to compile that data individually. A nonstandardized form a data compilation will lead to inventory discrepancies, individual parameters, and individual variables.

This problem is that important because currently each agent must spend a significant amount of personal or productive time compiling these non-standardized data bases. By developing a database administered by a research staff can provide each agent with standardized information available in many forms daily. Having sales agents spend time doing something other than working toward the goal of a home sale is counterintuitive to both their personal drive and their primary job function. Furthermore, agents spending personal time doing this research have higher rates of personal