What is secondary data?
information not specficly gathered for this sutudy. Often is good background to fill in gaps in researchers knowledge
what is primary data?
information collected speficially for the investigation at hand. Tailored to decision focused and specfic business at hand
what are the advantages of secondary data?
time saving for research and cheap
Although the use of secondary data doesn’t completely solve the
problem under study, it can:
- Help you better understand the problem being investigated
- Suggest better methods or further data that should be collected
- Provide comparative data that can help interpret primary data
What are the disadvantages of secondary data?
- problem of fit: not tailored to issue at hand
- Problems of accuracy: not always acccurate
What is internal data?
Data that originate within
the organization for which
the research is being done
What is external data?
Data that originate outside the
organization for which the
research is being done
What does a good Decsion Support System (DSS) provide?
-Standardized up-to-the-minute reports needed for day-to-day
operations
-Custom reports that can easily be produced by managers when
needed
What is data mining?
The use of analytic techniques to explore the data held within a dataset in
order to isolate useful information. Example netflix data on movie recomendations
What are the main types of external secondary data?
- Profiling Customers
- Measure Product Sales and market share
- Measuring advertising exposure and effectiveness
What is profiling customers?
obtaining information on customers that could be used to segment them.
What is measuring product sales and market share?
Using panels and scanners to meausre and track buying behavior
What is advertising exposure and effectiveness?
Measuring the impact of the following:
Television
radio
print media
internet
multimedia services
What is mintel?
worlds leading marketing intellegence agency. Combines secondary data with their own primary research
