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peonqhbd hxnqbsp voted up Ellie Hoe's answer
There are various benefits of conducting business research. Firstly, it can help businesses to communicate with their stakeholders like customers, suppliers etc. They can derive important conclusions through business research. Secondly, it helps businesses to identify the opportunities and threats. Thirdly, risks and uncertainties can be minimized through business research. Business research is very important … Read more
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peonqhbd hxnqbsp voted up Alex hales Perry's answer

Business research departments maintain a situation analysis, which is a document that details the past and present. Often used in marketing, the analysis will illustrate product sales, growth, consumption patterns, current marketing strategies and how each product contributes to profit. In addition, companies continually review both internal and external factors. The research is compiled in … Read more