Free Essay

Secondary Data Sources

In: Business and Management

Submitted By prerna09876
Words 2997
Pages 12
Secondary Data Sources
Slide 1
Before conducting a marketing research study, it’s best to consult secondary sources to both inform that study or perhaps to provide the data that would have been duplicated by that study, but at far less cost.
Slide 2
Fortunately, there are many resource people, such as librarians, to help with secondary data searches. You’re probably familiar with conducting internet searches using sources such as Google or Yahoo or perhaps a different search engine altogether. You’re also probably familiar with using library databases and searching those as well. There are many non-computerized sources of secondary information and there may be computerized sources with which you’re unfamiliar or unknowledgeable about accessing. Librarians and library personnel are effective in helping you to identify and successfully access that type of information.
Slide 3
What do marketing researchers mean when they speak about secondary data? Secondary data is data gathered and recorded by someone else prior to and for a purpose other than the current project. Such data is often historical, already assembled, and needs no access to study participants.
Slide 4
Databases of secondary data come in four flavors: bibliographic, numeric, directory, and full text. For bibliographic sources, think in terms of bibliographies or listings; although not self-contained sources, they provide listings of possible sources for further query. Numeric sources contain numbers; for example, census data creates lots of numbers that can be summarized meaningfully in tables and graphs. A directory could be a listing of people by profession, or newspapers in the U.S., or realtors in Las Cruces. Finally, for full text, think in terms of online databases like Business Source Premiere. Although some of the cites referenced in Business Source Premiere are limited to articles abstracts, titles, authors, and keywords, much of what’s available is the full text of the original articles. Full text databases exist for newspapers as well and many of those databases have been moved online.
Slide 5
Unlike primary data, which is collected for a specific and immediate research need, secondary data already exists. What are the kinds of secondary data? Researchers divide them up into two basic types: internal and external secondary data. I’ll discuss each of these and their relative merits briefly.
Slide 6
Internal secondary data is data that has already been collected by a company for some other purpose. Typically, that other purpose is associated with accounting, or tracking sales, or tracking back orders, or even tracking customer complaints. That information, regardless of its original reason for collection, can be used for other marketing decision making purposes.
Slide 7
Here, briefly, are the relative advantages and disadvantages of internal secondary data. Under advantages, I’ve listed two things. First, as this data has been collected by a company, it’s been organized in a way that’s consistent with the business that company conducts. As a result, that data should be in suitable geographic and business/product breakdown form to support marketing-related decisions. Second, the data ought to be relatively fresh; for example, sales data should be available from the previous months as opposed to annual sales data from the previous year. Hence, the data is likely to be fresh and in a form that lends itself to marketing-related decisions.
There are three disadvantages of such data. First, companies tend to collect such massive amounts of internal secondary data that handling and analyzing it become difficult. In other words, information overload is a possibility. Second, the inputs to a company’s internal secondary data often are tied to compensation. For example, a salesperson who meets his or her quota within the first three days of a month may try to smooth the entry of those orders into the ordering system; as a result, that salesperson may withhold booking those orders for a week or ten days, which might confound analyses about newly introduced products. Third, it’s company data which likely has been collected for accounting and financial purposes. As a result, it’s in accounting format, and accounting data may or may not lend itself to marketing decision making.
Slide 8
This slide shows a list of some external sources for secondary data, like government agencies and syndicated research services. For the latter, think in terms of Arbitron or Nielsen. Trade and professional associations often collect useful data. I once helped to collect data for a trade association called the Retail Floor Covering Institute, which was located in Chicago’s Merchandise Mart. My mandate was to survey members of the trade association and to create an annual report that all members could use as a baseline for comparing their performance during the previous year. In addition to customized, computer-generated reports sent to every self-identifying respondent, the trade association created an annual report for public consumption.
Professional associations, like the American Marketing Association, collect a wide range of information that it makes publicly available, some even through its website. There are custom research firms that publicize their activities (in newspapers and the like) as well as publish reports in professional journals and other outlets. Books and periodicals are sometimes an excellent source for secondary data. Directories can provide excellent listings of possible information sources. There are vendors who create and sell reports—often at high prices—to interested people and companies. Finally, there’s the internet, which is the source for secondary data I’m sure you know and use.
Slide 9
These next two slides address commercial sources of secondary data. For example, market research companies like A.C. Nielsen provide syndicated data, which is market-level data collected on an ongoing basis about competitors’ sales volume, brand share, pricing, promotion, and the like. (I’ll discuss this in more detail later.) Also, there’s demographic and census updates. Many organizations supply census updates in an easy-to-use or customized form, which allows them to extract additional rents from people who choose to buy this publicly available information from them rather than the appropriate government agency.
Slide 10
Commercial sources for secondary data can provide results from attitudinal and public opinion research. Recall the last election, where almost nightly Roper or some national network conducted an overnight telephone poll to assess potential voters’ opinions about the candidates or the issues. Other commercial suppliers can conduct and make research results available on consumption and purchase behavior, consumer responses to advertising, and magazine/ newspaper/audience loyalty/responsiveness. That said, most of the details regarding such studies are syndicated and proprietary.
Slide 11
Here’s a brief example about how an automobile leasing company used secondary data from Donnelly Demographics.
Slide 12
Although most of you are familiar with most of the secondary data sites listed on this slide, I thought it wise to provide because it might prove valuable to some of you.
Slide 13
Secondary data can be used for at least three different purposes: fact finding, model building, and database marketing.
Slide 14
If fact finding is the objective, then here are three possibilities. Marketers might want to know consumption patterns within a region, a town, a zip code, or a phone exchange. Patterns of consumption may provide marketers with valuable insights; for example, if introducing a product into a region, then superior warehouse site location and distribution decisions would rely on local consumption patterns. Another possibility is to assess trends. By looking at secondary data collected over time, especially data collected by the government, marketers may be able to identify longer-term trends and thus anticipate—rather than merely react to—changes in the environment. Finally, secondary data for fact finding could help with environmental scanning, not merely to track trends, but also to identify fundamental structural marketplace changes that have occurred over time.
Slide 15
Secondary data also can be used to build sophisticated quantitative marketing models, which are far beyond the scope of this course. Nonetheless, secondary data can be used to help to create the type of econometric models used to estimate market potential, to forecast long-run sales, or to select a new trade area or site for introducing a brand to a marketplace.
Slide 16
A third objective for secondary data is to create databases that could be used to track current customers or to develop lists of prospective customers. Such databases would include names, addresses, past purchases, responses to past marketing efforts; often, this data is collected from multiple sources. There may be some ethical issues regarding the aggregation of data from multiple sources and this certainly is an issue in Europe. I’ll discuss that more in my lecture on marketing research ethics.
Slide 17
Now I’ll briefly discuss the advantages and disadvantages of secondary data. Here’s a list of six possible advantages. (1) It tends to be far less expensive than primary data. Think about the large direct costs of fielding a study, collecting data, and analyzing that data in a meaningful fashion. Those costs are why I’ve argued in several lectures that marketing research is an asset; it has a cost and must be thought of in terms of cost-versus-benefit or net value. Secondary data is less expensive because the entities that collected it either did so for some other purpose or will sell it to many people or companies to amortize its direct costs over a sufficient number of entities to make it affordable to all. (2) It’s relatively faster to obtain. Field a research study means designing it or soliciting the parties who’ll be responsible for designing it, fielding it, and analyzing the data it yields—all which take a fair amount of time. (3) It’s already been created and is relatively straightforward to access. Secondary data is available far more rapidly than primary data. (4) It tends to be readily available. There are many ways to access such data, especially if it’s available via the internet or from government sources. (5) It can be used to aid in designing primary research. Secondary data (a) can inform the research, and (2) can indicate the questions that should be asked and the ways those questions should be formulated. (6) It can be used in conjunction with primary data to help understand the bigger picture. Primary data provides some information and secondary data provides complimentary information. When combined, they provide a fuller picture of the environment in question.
Slide 18
Although not all government data is free, much of it is free. A DVD with U.S. Census data will cost roughly $6,000 to $7,000. Government data often is available free, available online, available at the public library, and available at archival facilities like university libraries.
Slide 19
Although there are many advantages to secondary data, there are some disadvantages. (1) The data may not be consistent with needs; for example, people are grouped in an unsuitable way. Media reports group people in accord with key demographics, such as the 35-50 year-old group. That age classification may be too broad for some research purposes. It’s possible that the units of measurement for standard variables like age, income, occupation, and the like, also may be incompatible. (2) The data may be dated. The U.S. Government collects census data on an ongoing basis—rather than only once every 10 years—and in particular conducts a mid-census assessment to examine changes. Thus, even U.S. Census data may be as much as five years old, and that may be far too old for some research needs. Again, think how much Las Cruces has changed in the last five years and whether you’d want to trust five-year-old data to select a site for a new restaurant. (3) Finally, despite all the suggestions I’ll make in the subsequent several slides, it may be difficult to assess the credibility of secondary data. Despite knowing about data quality, and when to trust and when not to trust data, reports may be incomplete regarding the methodology used, and there may be issues that make it difficult to assess the trustworthiness of secondary data.
Slide 20
Ultimately, it’s up to you to assess the credibility of any secondary data you might use in making a decision. Here’s a list of six questions that you should ask yourself about data before you decide to trust it. (1) What was the purpose of the study? It matters greatly whether the study was for public policy purposes or for some commercial venture. (2) Who collected the data? Was it the government? Was it a highly reputable commercial firm? Was it a fly-by-night research organization? The quality of the data is related to the abilities and the credibility of the people who collected it. (3) What data were collected, and do they truly pertain to research needs? (4) Are the data timely? In other words, when was it collected? For example, in Las Cruces, which is changing seemingly almost weekly, timeliness is critical. Five-year-old U.S. Census data may be useless and outdated for identifying a location for a new restaurant. Knowing when data were collected helps to assess its adequacy and timeliness. (5) How were the data collected? To some extent, the methodology is related to quality, and quality is related to its credibility. (6) Is the data consistent with other data? Convergence would be comforting. If you saw a government report, a few commercial reports, and perhaps a newspaper-sponsored report, and they all seemed to converge on the same basic assessment, then you’d feel far more comfortable trusting that collection of converging sources than you’d be if one source indicated one thing and another source indicated an entirely different thing.
Slide 21
For those of you who prefer a flow diagram to serve as a framework for assessing the quality of secondary data, here’s one that has stood the test of time. First ask “Did the data help to answer questions set out in the problem definitions? (I’ll assume yes for all these answers). If yes, then did the data apply to the population of interest? If yes, then did the data apply to the time period of interest? If yes, can the units and classifications presently apply? (By apply, I mean to field research needs). If yes, if possible, go to the original source of the data. If yes, then was the cost of the data acquisition worth it? There’s always a cost-benefit issue with all data collection, even if it is secondary. If yes, is there a possibility of bias? If there’s no possibility of bias, then the data is worth using, but if there’s a possibility of bias, then the issue is “Can the accuracy of the data collection be verified?” If yes, then use it without hesitation, but if no, then conduct some sort of risk assessment. This is a reasonable framework for summarizing the points or the set of six questions offered in the previous slide.
Slide 22
Regarding an assessment of information on the internet, posted on different websites, this checklist of possible questions would help to assess the credibility of information on those sites. These questions are divided into five categories: purpose, authority, scope, audience, and format. This is a reasonable set of questions for making an appropriate assessment.
Slide 23
I would be remiss if I didn’t’ alert you to possibilities of problems with secondary data collected outside the U.S. In addition to all the limitations I’ve mentioned about secondary data in general, there are additional pitfalls in using global data of this type. First, many times that data is unavailable. Although we’d like to believe that the governments of all countries collect appropriate data or at least comparable data to what our government collects, some governments don’t collect such data because it’s cost prohibitive. As a result, it’s unavailable. Hence, certain types of data available in the U.S. or in other western countries to make marketing decisions may be unavailable in non-western countries. Global secondary data also may be less accurate due to less oversight in tabulation and poorer data collection methods. It also may be far more dated than what’s available in the U.S. There’s national census data collected every ten years and intermediate efforts to collect and update census data. In other countries, the equivalent of census data may be far less timely.
Slide 24
As a final warning about secondary data, be careful when that data is presented as either percentages or as index numbers. Percentages can be based on large or small populations, and large or small samples. With very large or small samples/populations, seemingly meaningful percentage differences may not be statistically significant, let alone managerially meaningful. Be careful that percentages, if judged to be meaningfully different, are based on truly meaningful samples or populations.
As for index numbers, they’re often computed relative to a base year or a base period, and those bases can shift over time at the researchers’ or data reporters’ convenience. Although this dates me somewhat, I recall when the Consumer Price Index was based on 1967 prices. Later, I recall the U.S. Government, after several years of Jimmy Carter and inflation rates approaching 20%, shifted the base year to 1978. I suspect the base year is now some time in the 1980s—during the Reagan administration—when inflation shifted to a much lower annual rate. Be careful with index numbers, especially government index numbers, are comparing numbers from identical base years. Otherwise, those numbers must be converted appropriately.
Slide 25
To recap, this lecture addressed five issues about secondary data. First, it defined secondary data and differentiated it from primary data. Second, it summarized the different types of secondary data more broadly and differentiated internal from external secondary data. Third, it briefly indicated how secondary data could be used by marketing researchers. Fourth, it briefly explored the relative advantages and disadvantages of secondary data. Finally, it provided a few broad guidelines for evaluating whether or not secondary data is appropriate.

Similar Documents

Premium Essay

Secondary Data Sources

...Secondary Data Sources July 29, 2013 Secondary Data Sources Whether the health care organization is a for-profit organization or a not-for-profit corporation, the governing body (GB) is a standard component of the health care system. GBs range from ultra simple in structure, such as is found in a health care facility operating a nursing home, or more complex, as those found central to large, expansive health care systems with multiple hospital and auxiliary operation sites. One of the GB’s most important tasks is the selection and evaluation of the Chief Executive Officer (CEO) (Longest & Darr, 2008). Titles may vary, but more often than not, titles used in the financial services industry are adapted for use in the health care organizational structure. There was a time when a person could be selected to serve on the GB as a token of appreciation for a life-long financial alliance with the health care organization. This is no longer allowed. Members of the GB now need to possess proven leadership skills and demonstrated leadership successes. According to Longest and Darr (2008), “suggested desirable personal characteristics of a trustee include capability in listening, consensus building, communicating, and leading, as well as ability to think outside the box” (p. 61). The members of the GB should also possess a working knowledge of finance, strategic and financial planning, and a general understanding of community needs and assessment, medical and......

Words: 1009 - Pages: 5

Premium Essay

This Research Paper Is an Outcome of a Detailed Study on the Title - Is Glass Ceiling Losing Its Relevance in 21st Century? the Research Is Based on the Secondary Data Published in the Internet and Other Printed Sources.

...Taking into account the fact that a majority of such enterprises which are at the lower-end of the sector are outside the ambit of institutional finance. Hence, concerted efforts have been made by SIDBI to promote micro finance 128 footer INDIAN BUSINESS ENVIRONMENT across the country to enable the unemployed persons to set up their own ventures. There are more than 100 Micro Finance Institutions (MFIs) developed by SIDBI that are engaged in implementation of its micro finance programme. SIDBI has disbursed about Rs.1700 crore (cumulative) under its programme, benefiting around 50 lakh beneficiaries. At the State level, State Financial Corporations (SFCs) along with the State Industrial Development Corporations (SIDCs) are the main sources of longterm finance for the sector. State Financial Corporations, the state-level institutions have played an important role in the development of small and medium enterprises in their respective states with the main objectives of financing and promoting these enterprises for achieving balanced regional growth, catalyse investment, generate employment and widen the ownership base of industry. Credit Guarantee Cover Fund Scheme for Small Industries was launched jointly by the Government of India and SIDBI (on a 4:1 contribution basis) in August 2000, with a view to ensure greater flow of credit to the sector without collateral security. It picked up during the last two years of the Tenth Plan and till the end of March 2007, 68062......

Words: 21473 - Pages: 86

Premium Essay

Muiojh

...ANDSECONDARY DATA We explore the availability and use of data (primary and secondary) in the field of business research.Specifically, we examine an international sample of doctoral dissertations since 1998, categorizingresearch topics, data collection, and availability of data. Findings suggest that use of only primarydata pervades the discipline, despite strong methodological reasons to augment with secondary data.IBRAHIM NAVEENReg. No. IPHRM 5001Diploma in Human Resource Management Batch 01INTERNATIONAL INSTITUTE FOR PROFESSIONAL DEVELOPMENT * 2. PRIMARY AND SECONDARY DATA CONTENTSINTRODUCTION --------------------------------------------------------------------------------- 02IMPORTANCE OF DATA AND DATA COLLECTION --------------------------------- 02DATA COLLECTION TECHNIQUES ------------------------------------------------------- 02PRIMARY DATA ---------------------------------------------------------------------------------- 03IMPORTANCE OF PRIMARY DATA ------------------------------------------------------- 03SOURCES OF PRIMARY DATA -------------------------------------------------------------- 04ADVANTAGES OF PRIMARY RESEARCH ----------------------------------------------- 05DISADVANTAGES OF PRIMARY RESEARCH ------------------------------------------ 07SECONDARY DATA ----------------------------------------------------------------------------- 08IMPORTANCE OF SECONDARY DATA --------------------------------------------------- 08SOURCES OF SECONDARY DATA......

Words: 3598 - Pages: 15

Premium Essay

Conducting Secondary Research

...B: CONDUCTING SECONDARY RESEARCH TABLE OF CONTENTS OVERVIEW OF SECONDARY RESEARCH .......................................................................... 3 Steps Involved in Secondary Research........................................................................................ 3 Advantages and Disadvantages of Secondary Research ............................................................. 4 Deciding Whether or Not to Outsource Secondary Research ..................................................... 5 OUTSOURCING SECONDARY RESEARCH: ........................................................................ 6 CONDUCTING SECONDARY RESEARCH USING INTERNAL RESOURCES:.............. 7 1. Identifying Sources of Information ........................................................................................ 7 2. Gathering Existing Data ....................................................................................................... 10 3. Normalizing Data ................................................................................................................. 12 4. Analyzing Data..................................................................................................................... 13 Demographic Analysis ..................................................................................................... 14 Workbook B -2- Conducting Secondary Research OVERVIEW OF SECONDARY RESEARCH Sometimes secondary research is......

Words: 3511 - Pages: 15

Premium Essay

Primary Data vs Secondary Data

...Differences Between Primary Data vs Secondary Data -Submitted by Arvind Kartik SOURCES OF PRIMARY DATA Regardless of any difficulty one can face in collecting primary data; it is the most authentic and reliable data source. Following are some of the sources of primary data. Experiments Experiments require an artificial or natural setting in which to perform logical study to collect data. Experiments are more suitable for medicine, psychological studies, nutrition and for other scientific studies. In experiments the experimenter has to keep control over the influence of any extraneous variable on the results. Survey Survey is most commonly used method in social sciences, management, marketing and psychology to some extent. Surveys can be conducted in different methods. Questionnaire: It is the most commonly used method in survey. Questionnaires are a list of questions either an open-ended or close -ended for which the respondent give answers. Questionnaire can be conducted via telephone, mail, live in a public area, or in an institute, through electronic mail or through fax and other methods. Interview : It is a face-to-face conversation with the respondent. It is slow, expensive, and they take people away from their regular jobs, but they allow in-depth questioning and follow-up questions. The interviewer can not only record the statements the interviewee speaks but he can observe the body language or non-verbal communication such as face-pulling,......

Words: 659 - Pages: 3

Premium Essay

Res 320 Week 2 Business Research Methods

...primary, secondary, and tertiary sources in a secondary search. Primary sources are original pieces of information. It is raw data without any input or hypothesis from outside sources. Secondary sources are interpretations of a primary data source, or anything that is derived from a primary source. Tertiary sources are in turn interpretations of any secondary resources, or any data that is derived from a secondary resource. Question #5 - Some researchers find that their sole sources are secondary data. Why might this be? Name some management questions for which secondary data sources are probably the only ones feasible. There are certain researchers who find secondary data as their sole source of data because; by using secondary data much of the original research has already been completed. Using secondary data is useful in saving time and resources while gathering information. It can also be the only source of information when the only primary information which exists is proprietary information which is not accessible to the public. Historical data can also play a factor if the data being researched is of historical nature, and there is not any original primary data that exists anymore. Question #7 - What problems of secondary data quality must researchers face? How can they deal with them? There can be multiple problems with secondary data quality. One of the challenges with secondary data would be trusting the original research. When working with......

Words: 576 - Pages: 3

Premium Essay

Advantages and Disadvantages of the Sources of Internal Data

...CHAPTER 4 EXPLORATORY RESEARCH DESIGN: SECONDARY DATA Opening Questions 1. Why are secondary data important? How do we distinguish secondary data from primary data? 2. What are the advantages and disadvantages of secondary data? 3. How should secondary data be evaluated to determine their usefulness? 4. What are the different sources of secondary data, including internal sources and external sources? 5. What is database marketing? How does it make use of secondary data? 6. How can published secondary data be classified? 7. How can computerized databases be classified? 8. How do we identify and classify the sources of secondary data useful in international marketing research? 9. How can technology and what ethical issues are involved in the use of secondary data? AUTHOR'S NOTES: CHAPTER FOCUS This chapter provides an overview of secondary data. Secondary data are defined and their advantages, disadvantages, and evaluations discussed. A classification of secondary data is presented. Internal sources, published external sources, and computerized databases are discussed. Applications of secondary data in the context of a buying power index and computer mapping are provided. The several classifications of secondary data, presented in Figures 4.3 through 4.6, are unique to this book. In addition, a focus on international marketing research, technology, and ethics is placed at the end of this chapter. This chapter could be taught by focusing...

Words: 4683 - Pages: 19

Premium Essay

Hyhyt

...MARK205 Introductory Marketing Research Week 3 Today Week 3 1. Secondary & Data Secondary & Standardized Data 2. Standardized Marketing Data plus 3. Discussion of Assessment 1 Discussion of Assessments 1 & 2 4. Discussion of Assessment 2 Chapter 4 of Aaker et al. (2007) Assessment 2 Marking Guide & Rubric The Research Process Learning Objectives • Outline the nature & various sources of secondary data • Discuss the uses & evaluation of secondary data • Spotlight on searching for journal articles  Links in with Assessment 2 • Explain & discuss the nature & requirements of Assessments 1 & 2 1. Secondary Data Internal Sources Secondary Data Source • Data gathered for a study or purpose other than the immediate study at hand Prior Company Research Company & Sales Reports Internal Secondary Data • Collected / compiled by the individual organisation External Secondary Data What You Could Get Accounts & Shipping Records Business Plans • Collected / compiled by an outside party Customer Feedback Dr Julie Francis Autumn 2015 1 MARK205 Introductory Marketing Research Week 3 1. Secondary Data External Sources Source Applications What You Could Get Secondary Research Task Support Primary Research • Secondary Research Task Innovations, trends, market reports General Media e.g., TV, magazines Information about competitors, markets, & consumers Academia e.g.......

Words: 741 - Pages: 3

Free Essay

Res320 Week 2 Individual Hw

...2 and 3 Question 2 - Define the distinctions between primary, secondary, and tertiary sources in a secondary search. Primary sources are data that has not been interpreted and are the original research performed. These sources are from the source of the information. The data given from a primary source has not been translated into information by another person. Primary sources are the source of the data given. Many books of law are primary sources. A court transcript would be a primary source for an appealed case. Secondary sources have been interpreted from primary data. School textbooks are an example of a secondary source because the authors gathered the information from many primary sources. They translated that data too this secondary source. Almost all research found falls into secondary sources category. Most information on the Internet has been translated from a primary source. Tertiary sources take secondary sources and interpret them. These can be guides, timelines, and almanacs. They have condensed primary and secondary sources to create an index. Bibliographies are also an example of a tertiary source. Question 3 - What problems of secondary data quality must researchers face? How can they deal with them? There are five problems of secondary data quality: Purpose, scope, authority, audience, and format. When evaluating purpose of a secondary source a research must discover why this data exist. The researcher must also evaluate if the research is......

Words: 929 - Pages: 4

Premium Essay

Data for Research

...DATA FOR RESEARCH Data can be defined as ‘the quantitative or qualitative values of a variable.’ Data is plural of Datum which literally means to give or something given. Data is thought to be the lowest unit of information from which other measurements and analysis can be done. Data can be numbers, images, words, figures, facts or ideas. Data in itself cannot be understood and to get information from the data one must interpret it into meaningful information. There are various methods of interpreting data. Data sources are broadly classified into primary and secondary data. Importance of Data and Data Collection: Data is one of the most important and vital aspect of any research studies. Researchers conducted in different fields of study can be different in methodology but every research is based on data which is analyzed and interpreted to get information. Data is the basic unit in statistical studies. Statistical information like census, population variables, health statistics, and road accidents records are all developed from data. Data is important in computer science. Numbers, images and figures in computer are all data. Types of Data There are two types- Primary Data and Secondary Data. Primary Data: Sources of Primary Data: Sources for primary data are limited and at times it becomes difficult to obtain data from primary source because of either scarcity of population or lack of cooperation. Regardless of any difficulty one can face in collecting......

Words: 2052 - Pages: 9

Free Essay

Research

...conclusions and interpretations pertaining to the entire population. [pic] Question 4: List down various measures of central tendency and explain the difference between them? Answer: Measures of Central Tendency: The term central tendency refers to the "middle" value or perhaps a typical value of the data, and is measured using the mean, median, or mode. Each of these measures is calculated differently, and the one that is best to use depends upon the situation. Analysis of data involves understanding of the characteristics of the data. The following are the important characteristics of a statistical data: ➢ Central tendency ➢ Dispersion ➢ Skew ness ➢ Kurtosis In a data distribution, the individual items may have a tendency to come to a central position or an average value. For instance, in a mark distribution, the individual students may score marks between zero and hundred. In this distribution, many students may score marks, which are near to the average marks, i.e. 50. Such a tendency of the data to concentrate to the central position of the distribution is called central tendency. Central tendency of the data is measured by statistical averages. Averages are classified into two groups. 1. Mathematical averages 2. Positional averages Statistical Averages Mathematical averages Positional averages Arithmetic mean Median Geometric......

Words: 4738 - Pages: 19

Premium Essay

Evaluation of Secondary and Primary Research

...Report “Evaluation of Secondary and Primary Research” Student Name: Rana Ahmed Saeed Khan Student Number: ST20027073 Course Title: Module Title: MBA Marketing Module number: MBA 7003 Module tutor: Katherine Mutter Submission details: To be submitted on 18th April 2013 Marketing Report Assignment 1 MBA7003 Table of Contents S no. Topics Page 01 1. Introduction………………………………………………………………………... 2. Primary Research…………………………………………………………………. 01 3. Secondary Research……………………………………………………………… 01 4. Value and weaknesses of Secondary research carried out…………………… 03 5. How primary research may be used to supplement the secondary research…03 6. Research report on UK mobile market…………………..…………………..……..03 7. Conclusion…………………..…………………..…………………..……………….. 04 8. References…………………..…………………..…………………..……………….. 04 Marketing Report Assignment 1 MBA7003 1. Introduction: The report analyzes various aspects of primary research and offers an understanding of how secondary research can be used to supplement it. Merits and demerits of primary and secondary research are discussed in academic and marketing terms. 2. Primary Research: Primary research is developed by researchers by witnessing first hand sources without using their own analysis, interpretation and opinions. It usually includes diaries, speeches, autobiographies, interviews and newspapers or magazines (University of Pittsburgh 2003). Further explanation of primary sources is given by Blythe......

Words: 1155 - Pages: 5

Premium Essay

Marketing Research Tools

...Marketers engage the use of primary and secondary research tools to determine results of current and past information. The information acquired from the results of the inquiries defines the data in two different terms. Marketers dissect the information and categorize it in qualitative or quantitative terms. For marketing it is important to differentiate between primary and secondary research when using qualitative and quantitative approaches to use each one effectively and determine why. Primary Research Part of the marketing strategy implements research to determine results for the final goal. In a perfect world the information would be filed away and broken down in descriptive categories. When no established information has been provided researchers must turn to new collection processes. “When the researcher collects fresh data to meet the needs of research it is primary research. The tools of primary research include surveys, interviews, and observations. This is a direct method of carrying out research and so its tools are entirely different from that of secondary research” (Stewart, 1993, p.67). Primary research collects information from a variety of sources. Marketers use surveys, videos, laboratory testing, organizations records, and observations to gather information and relate it to data. Observations tend to be collected from focus groups, usually from the moderator. The moderator will conduct the group discussions on behalf of the organization and......

Words: 862 - Pages: 4

Premium Essay

Research, Statistics, & Psychology Paper

...Psychology Psy/315 January 9, 2012 Research, Statistics & Psychology The scientific, objective, and the methodic gathering of information for a theory is research. Statistics is collection of data, interpretation, the analysis, and presentation of the data. Statistical data is the important part to any good research. Psychology, statistics is the method of pursuing the truth (Aron, Aron, & Coup, 2009). The statistics methods is to make sense out of the large amount of data collected during research by psychologists. This paper will explore the role of research and statistics in psychology field. The paper will give the definition of the research and the scientific method, and the characteristics of the primary and secondary data that researcher use to help form an hypothesis. The paper will also explore the role of statistics in research. Research and Scientific Method Merriam-Webster Dictionary defines research has the, “studious inquiry or examination, especially: investigation or experimentation aimed at the discovery and interpretation of facts, revision of accepted theories or laws in the light of new facts, or practical application of......

Words: 945 - Pages: 4

Premium Essay

Evaluate and Explain the Limitations of a Range of Sources of Information Both Primary and Secondary, for Small Scale Public Services Projects.

...limitations of a range of sources of information both primary and secondary, for small scale public services projects. The source's used in the collection of data for a research project or investigation are of vital importance. Characterised as primary and secondary, a good range will provide more information needed to aid decision making. However it is important to note that it can some time's be difficult to distinguish whether the information is primary or secondary. In this essay point's will be made regarding the advantage's and disadvantage's of a number of sources both primary and secondary. Their limitations will be addressed, and an explanation of how data collected during research can help in the decision making process and help organisation's meet their objective's. Ethics will be considered throughout. The actual, origanal or physical materials used in the study of an object, person or particular event in time are known as sources. They are paramount to investigation and are commonly known as primary and secondary sources. A primary source is a physical object or first hand testimony created during the time under-study, an example could be a diary, a piece of writing or photograph. These sources are unique and one of a kind, and could be a copy of the original if they existed during the time of creation. ''Primary research involves the study of a subject through first hand observation and investigation.'' Dawson, (2007,47). Primary sources are great for......

Words: 1491 - Pages: 6