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Business Jargons

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Secondary Data Collection Methods

Definition: When the data are collected by someone else for a purpose other than the researcher’s current project and has already undergone the statistical analysis is called as Secondary Data.

The secondary data are readily available from the other sources and as such, there are no specific collection methods. The researcher can obtain data from the sources both internal and external to the organization. The internal sources of secondary data are:

  • Sales Report
  • Financial Statements
  • Customer details, like name, age, contact details, etc.
  • Company information
  • Reports and feedback from a dealer, retailer, and distributor
  • Management information system

There are several external sources from where the secondary data can be collected. These are:

  • Government censuses, like the population census, agriculture census, etc.
  • Information from other government departments, like social security, tax records, etc.
  • Business journals
  • Social Books
  • Business magazines
  • Libraries
  • Internet, where wide knowledge about different areas is easily available.

The secondary data can be both qualitative and quantitative. The qualitative data can be obtained through newspapers, diaries, interviews, transcripts, etc., while the quantitative data can be obtained through a survey, financial statements and statistics.

One of the advantages of the secondary data is that it is easily available and hence less time is required to gather all the relevant information. Also, it is less expensive than the primary data. But however the data might not be specific to the researcher’s needs and at the same time is incomplete to reach a conclusion. Also, the authenticity of the research results might be skeptical.

Related terms:

  1. Data Collection
  2. Primary Data Collection Methods
  3. Types of Marketing Research
  4. Marketing Information System
  5. Census Method

Reader Interactions

Comments

  1. Diyar says

    March 14, 2017 at 8:33 pm

    appreciate your topic and information

    Reply
  2. Annu says

    February 3, 2018 at 5:16 pm

    it was helpfull.

    Reply
  3. Somu says

    June 6, 2018 at 2:35 pm

    Thanks man ! It’s very helpful

    Reply
  4. Shaaista Hasan says

    June 14, 2018 at 8:56 am

    Thanks a lot… Quite helpful indeed..

    Reply
  5. kumbukani tembo says

    April 30, 2019 at 5:19 pm

    what are some of the tools used to source or collect sourcing historical secondary data?

    Reply
  6. Sk. Shabnam says

    August 22, 2019 at 3:07 am

    Excellent content and very descriptive… proved so helpfull while completing assignment…

    Reply
  7. peter says

    October 15, 2019 at 2:33 pm

    Yes, I have learnt something!

    Reply
  8. Micky Mash says

    August 27, 2021 at 8:12 pm

    Very informative.

    Reply
  9. Chaminda Jayalal Gunasekara says

    June 20, 2022 at 2:05 pm

    Thank you …. Very theoretical explanation, that would help me to find the path way to collect secondary data.. for my assignment

    Reply
  10. Rev David Chanda says

    July 18, 2023 at 10:05 pm

    Excellent material and brief to the point and easy to access.

    Reply

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