Market Research
Market research is a systematic process of gathering, analyzing, and interpreting information about a market, including data on customers, competitors, and the industry environment. It involves both qualitative and quantitative methods to understand market dynamics, identify opportunities, and assess risks. This skill is crucial for making informed business decisions, such as product development, marketing strategies, and market entry.
Developers should learn market research to build products that meet user needs and succeed in competitive markets, as it helps validate ideas, prioritize features, and reduce development risks. It is particularly valuable in roles like product management, entrepreneurship, or when working in startups, where data-driven insights guide technical decisions and resource allocation. For example, before coding a new app, market research can reveal target audience preferences or competitor gaps.