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Understanding Secondary Data Sources

This document discusses secondary data sources that can be used for decision making. It defines primary data as new data collected for a specific problem, while secondary data was previously collected, possibly for a different purpose. Secondary data offers advantages like lower costs and faster acquisition. However, it also has limitations like potential lack of relevance or accuracy. Internal secondary databases are collected from within an organization, while external sources include industry reports, market research, and census data. The internet and search engines provide access to large amounts of secondary data from various public and commercial sources.

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114 views11 pages

Understanding Secondary Data Sources

This document discusses secondary data sources that can be used for decision making. It defines primary data as new data collected for a specific problem, while secondary data was previously collected, possibly for a different purpose. Secondary data offers advantages like lower costs and faster acquisition. However, it also has limitations like potential lack of relevance or accuracy. Internal secondary databases are collected from within an organization, while external sources include industry reports, market research, and census data. The internet and search engines provide access to large amounts of secondary data from various public and commercial sources.

Uploaded by

sudarshan1985
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© Attribution Non-Commercial (BY-NC)
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Secondary Data, Databases, The Internet,

and Decision Support Systems


The Nature of Secondary Data

 Primary Data: new data that is gathered to help solve


the problem at hand.
 Survey, observation, experiment data
 Collected specifically for the current problem
 Secondary Data: data that has been previously
gathered.
 Might be relevant to the current problem
 Two sources: internal databases & external
databases
Advantages of Secondary Data
 Primary advantages:
 Acquisition cost
 Acquisition time
 Convenience
 Additional advantages:
 May help clarify or redefine the problem definition
 May provide a solution to the problem
 May aid in primary research design
 May provide background info. and foster creativity
Limitations of Secondary Data
 Lack of availability
 Lack of relevance
 Inaccuracy
 Who gathered the data?
 What was the purpose of the study?
 What information was collected?
 When was the information collected?
 How was the information obtained?
 Is the information consistent with other information?
 Insufficient Data
Secondary Data Sources:
Internal Databases
 What is a database?
 Internal database: a database developed from data within an organization.
 Where does the data come from?
 Sales Invoices
 Salesperson’s Call Reports
 Warranty Cards
 Customer Registration/Sign-in
 Examples:
 Expedia.com
 L.L. Bean.com
The Growing Importance of Internal
Database Marketing
 Database marketing: the creation of large computerized files of customers’ and
potential customers’ profiles and purchasing patterns. Often called
micromarketing.
 Internal database marketing enables firms to:
 evaluate sales territories
 identify most and least profitable customers
 identify potential market segments
 identify which products, services, and segments need the most marketing
support
 evaluate opportunities for offering new products or services
 identify most and least profitable products and services
 evaluate existing marketing programs
 Customer clubs
Data Mining
 The use of software to find patterns hidden in the database.
 Benefits to marketers:
 customer acquisition (2 steps)
discover attributes that predict customer responses to mktg.
programs
use the attributes of existing customers to identify potential
customers
 customer retention - target customers who are on the verge
of switching to a competitor.
 Customer abandonment
 Market-based analysis
Finding Secondary Data on the Internet

 Web browser
 Uniform reference locator (URL)
 Search engines
 Pay for Play?
 See Link from Course Website
 http://cas.uah.edu/wrenb/mkt343/links.htm
Secondary Data Sources:
External Databases
(see Appendix 7A, p. 202)
 Industry Information
 Company Information
 Market and Consumer Information
 General Economic Information
 General Guides to Business Information
 Indexes
 Specialized Directories
Primary Sources of Secondary Data
General Information
 UAH Library – www.uah.edu/library
 UAH Library Reference Desk – David Moore
 Stat USA compendium – www.stat-usa.gov

Industry Information
 Census of Retail Trade; Census of Wholesale Trade
 Moody’s Industry Review
 Standard & Poor’s Industrial Surveys
 Standard Industrial Classification Manual

Company Information
 Hoover’s Handbook; Hoover’s Online
 Dunn & Bradstreet Million Dollar Directory
 Moody’s Manuals
 Standard & Poor’s Corporate Records
 Thomas Register of American Manufacturers
Primary Sources of Secondary Data
Market and Consumer Information
 U.S. Bureau of the Census
 Bureau of Labor Statistics
 County and City Databook (Census Bureau)
 Demographics USA Reference Book
 Lifestyle Market Analyst
 Woods and Poole MSA Profile Reference Book
 MediaMark Reporter
 Sales and Marketing Management Survey of Buying Power

General Economic Information


 Survey of Current Business
 Federal Reserve Bulletin
 Statistical Abstract of the U.S.

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