Secondary Data

Posted in Marketing and Strategy Terms, Total Reads: 1346
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Definition: Secondary Data

Secondary data is essentially information that is already available and which had been previously collected for some other purpose.

The major advantage of Secondary data in any research is that it is:

  • Cost effective
  • Time saving
  • Helps identify gaps in the primary data and streamlines research
  • Provides a basis for comparison to arrive at a research finding

Sources of Secondary data can be either published or unpublished sources. Published sources include published reports of the Government, publications of foreign Government, Journals, magazines, periodicals, reports   of economists, scholars, bureaus etc.

Unpublished sources include research work of teachers, scholars and professionals, records of private firms and government departments etc.

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