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So let's start with the first thing you should know when you are trying to solve a problem.

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You should know about the business context of that problem.

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You should know what all factors are important and have impact on the variables of interest.

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Only if we know the business, we will be able to identify relevant variables and get the required data

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for the analysis.

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Remember this, the quality of your input will decide quality of your output.

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Now, there are two primary ways to gather information about business.

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One is to gather it yourself by talking to relevant people or stakeholders of that business, people

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who are impacted by the problem at hand.

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Or you can also gather information by actually doing these things yourself.

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For example, if you have to increase sales of a particular product.

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Try to go and sell it yourself in the market.

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Go and try to buy it, also to understand customers perspective.

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Gathering information by yourself is called doing primary research.

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In secondary research, you read or listen to the information gathered by others, maybe there is some

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industry related research report or some study done by some consulting firm or someone else has worked

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on the same problem before.

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We should look at methodology and findings of those earlier works.

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Also.

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Here is an example.

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Suppose you are part of a company which sells online and the problem you are facing is, of course,

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abandonment.

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That is a lot of your customers add product to their card, but do not actually purchase it.

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This is a fairly common problem for online businesses.

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Now, if you are given the task to tackle this problem, where do you start?

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First, we should go and talk with the relevant teams involved.

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Usually there is a marketing team and a product team which cross-functional they handle the online sales

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process.

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We should go and talk to them.

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Then we should tripartism from this site ourselves also to understand what is the customer journey online.

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All this will be primarily such.

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As part of the candy dessert, we should look for previous studies on guard abandonment within and outside

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the organization.

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Once we have done all this, we would have a fairly good idea of what all variables and what type of

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model we are going to use.

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Next task is to get data.