Secondary data
Secondary data is also called as desk research. This data collected by earlier researcher for their research objectives and as a researcher you will use it them to support evidence for your research objectives.
Let me explain how secondary data useful to managers:
1. Financial reports
Many investment companies prepare their reports on a industry and a company by conducting a primary research. Once this research report received by a investor and has decided to make decision on investment the report becomes secondary data for the investor as he has not collected information directly from the company.
2. Accounting records of the company:
A manager would like to know the inventory cost in the company for a given month. Rather than going and checking every inventory invoice and calculating, the manager can see the overall cost in the final accounts of the company. Hence, the final accounts work as secondary data for a manager.
3. Journals
A researcher doing a research on foundry companies about emerging technologies. He/she can search information on a specific journals like 'Indian foundry journal' (https://www.indianfoundry.org/indian-foundry-journal.php) ratther than searching information on the internet.
4. Magazines
A researcher will gain valuable knowledge about a research by reading the magazine. For instance, a manager in the Bharati Airtel wants to know the impact of Facebook deal with Reliance industry on their company, may prefer to read the magazines like business today(https://www.businesstoday.in/), business India(http://www.businessindiagroup.com/index.aspx), outlook business(https://www.outlookbusiness.com/), business world (www.businessworld.in) etc.. These magazine serves as secondary data and help researcher to prepare literature review and generate variables of the primary research.
5. Search engines:
Assume that a researcher is doing a research on the impact of global recession on airline industry. He or she will go to Google scholar(https://scholar.google.com/) and type the keywords such as recession impact of airline industry to collect previous researchers work.
6. Online Databases
Databases such as
- EBSCO(http://search.ebscohost.com/)
- Emerald(https://www.emerald.com/insight/
- Proquest.(https://www.proquest.com/)
- Prowess.(https://prowessiq.cmie.com/)
- Capitaline(https://www.capitaline.com/)
7. Internet
Managers will get updated information from online News papers(https://www.livemint.com/), online journals, websites, apps, social media etc...These serve as secondary data for the manager to conduct primary investigation.
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