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Definition: Secondary Research
Primary and Secondary research Techniques are used to carry out successful market research. Secondary research involves the usage of already existing data. It is also known as desk research. The already existing data is summarized collated to enhance the effectiveness of the overall study. Secondary data could be those published by early researchers in their primary research.
These could also involve published statistics like census data, theoretical work or expert report by trade association government agency or business firms, documentaries by various media channels or even personal diaries.
The low cost of accessing such data, along with the ability of use huge set of data to analyze large trends are a few benefits of secondary research. Often working on historical trends, secondary research is the only option available to researchers. However inconsistency, biases etc could be a few disadvantages of secondary research data.
Example include reports and statistics published by agencies like KPMG, McKinsey, data available on sites like NCBI, Euromonitor, Marketline etc.