Chapter 5 Secondary Data

Data collected for purposes other than solving problem on hand Obtained from internal records of company and external sources Need for Secondary Data: Duplication of research can be avoided Sources of information on countries, products, markets, competitors and potential customers should be checked

Steps involved in IMR before collecting primary data - Check reference - Conduct secondary research on-line and in the library - Select Multi-client studies - Select foreign forms for collaboration - Solicit proposals for fieldwork and analysis - Finalize client proposal - Start primary research

Uses of Secondary Data New ideas Better definition of problem Aid primary data collection Define the population and parameters of primary research Reference to compare validity of primary data

Advantages of Secondary Data Savings in cost and time Study feasibility of project Historic data Sometimes more accurate

Disadvantages of Secondary Data Not available for all countries May not be very accurate May be outdated May not be comparable across countries

Problems in Collecting Secondary Data Dearth of data Comparability across countries Differences in usage

Evaluating Value of Research Country A SuccessFailure Introduce$4 million$1million Do not introduce $0 $0 Country B SuccessFailure Introduce $4 million -$2.5million Do not introduce $0 $0

Electronic Point of Sale Scanning Bar coding, scanning, and computerized information are all part of the new trend in retail auditing. Scanner data in Europe: Scanner based tracking services will be useful if there are number of retail locations that engage in scanning

Syndicated Data Sources They are collected for a set of information users with a common need. Examples include: Scanner data, consumer panels, store audits, etc.