Page 139 - DMGT404 RESEARCH_METHODOLOGY

Unit 7: Secondary Data

Notes
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Caution Before using the secondary data, the source of data must be verified in order to
ensure accuracy and reliability of data.

Recency

This pertains to "how old was the information?" If it is five years old, it may be useless. Therefore,
the publication lag is a problem.

Self Assessment

Fill in the blanks:
11. There is no need to hire ………………for the purpose of secondary data.

12. Secondary data may be ill-suited because of the three reasons which are………………..,
Definition of a class and Recency
13. The reliability of the source determines the ……………….of the data.

14. It is common for secondary data to be expressed in…………..
15. ………………pertains to "how old was the information?"

7.4 Summary

 Secondary data are statistics that already exists.
 Secondary data may not be readily used because these data are collected for some other
purpose.

 Secondary data has its own advantages and disadvantages.
 There are two types of secondary data (1) Internal and (2) External secondary data.
 Census is the most important among secondary data.
 Syndicated data is an important form of secondary data
 Syndicated data may be classified into (a) Consumer purchase data (b) Retailer and
wholesale data (c) Advertising data. Each has advantages and disadvantages.

7.5 Keywords

External Data: The data collected by the researcher from outside the company.
Internal Data: Internal data are those that are found within the organisation.

Panel Type Data: This is one type of syndicated data in which there are consumer panels.
Secondary Data: Secondary data is collecting and possibly processed by people other than the
researcher in question.

Syndicated Data: Data collected by this method is sold to interested clients on payment.

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