Market research is one of the most important activities that you need to take as an entrepreneur when you are running a business. Each market research relay on certain market research methods, which in most of the cases is a way of collecting information or data required for the research.
It seems that 80% of a market research is a collection of valid information on the market. While 20% refers to the analysis and interpretation of already collected data. This is the 80/20 rule. Because the market is made up of customers and competition, it is necessary to collect all information relating to them.