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Secondary Data Research in Digital Age

Secondary Data Research in Digital Age. 1. To discuss the advantages and disadvantages of secondary data 2. To give typical examples of secondary data analysis conducted by marketing managers 3. To understand the nature of model building with secondary data

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Secondary Data Research in Digital Age

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  1. Secondary Data Research in Digital Age 1. To discuss the advantages and disadvantages of secondary data 2. To give typical examples of secondary data analysis conducted by marketing managers 3. To understand the nature of model building with secondary data 4. To discuss and give examples of the various internal and proprietary sources of secondary data 5. To discuss the channels of distribution for external sources of secondary data

  2. Secondary Data Research • Secondary Data • Data that have been previously collected for some purpose other than the one at hand • Advantages • Availability • Inexpensive • Obtained rapidly • Many of the activities normally associated with primary data collection (for example, sampling and data processing) are eliminated • Information is not otherwise accessible

  3. Secondary Data Research (cont’d) • Disadvantages • Not designed specifically to meet researchers’ needs • Consistent with problem definition, population of interest • Time period inappropriate (outdated) • Inappropriate units of measurement • Data conversion: The process of changing the original form of the data to a format suitable to achieve the research objective, also called data transformation • Uncertain accuracy • Cross-checks: The comparison of data from one source with data from another source to determine the similarity of independent projects

  4. If possible, go to the original source of the data Secondary Data Research (cont’d) EVALUATING SECONDARY DATA

  5. Typical Objectives for Secondary Data Research Designs • Fact-Finding • Identification of consumer behaviour for a product category • Trend analysis • Market tracking: The observation and analysis of trends in industry volume and brand share over time • Environmental scanning • Information gathering and fact-finding that is designed to detect indications of environmental changes in their initial stages of development

  6. Typical Objectives for Secondary Data Research Designs (cont’d) • Model Building • The use of secondary data to help specify relationships between two or more variables. Model building can involve the development of descriptive or predictive equations • Estimating market potential for geographic areas • Forecasting sales

  7. Typical Objectives for Secondary Data Research Designs (cont’d) • Model Building (cont’d) • Analysis of trade areas and sites • Site analysis techniques: Techniques that use secondary data to select the best location for retail or wholesale operations • Index of retail saturation: A calculation that describes the relationship between retail demand and supply

  8. Typical Objectives for Secondary Data Research Designs (cont’d) • Data Mining • The use of powerful computers to dig through volumes of data to discover patterns about an organization’s customers and products. It is a broad term that applies to many different forms of analysis • Neural network • A form of artificial intelligence in which a computer is programmed to mimic the way that human brains process information

  9. Typical Objectives for Secondary Data Research Designs (cont’d) • Customer Relationship Management • A decision support system that manages the interactions between an organization and its customers • A CRM maintains customer databases containing customers’ names, addresses, phone numbers, past purchases, responses to past promotional offers, demographics, financial data • Database Marketing • The use of CRM databases to promote one-to-one relationships with customers and create precisely targeted promotions

  10. Sources of Secondary Data • Internal and Proprietary Data • Secondary data that originate inside the organization • Internal and Proprietary Data Sources • Sales information and backorders • Customer complaints, service records, warranty card returns • External Data: The Distribution System • External data • Data created, recorded, or generated by an entity other than the researcher’s organization

  11. Modern Distribution of Secondary Data INFORMATION AS A PRODUCT AND ITS DISTRIBUTION CHANNELS

  12. Sources of Secondary Data (cont’d) • Information as a Product and Its Distribution Channels: • Libraries • The Internet • Vendors • Producers

  13. Single-Source Data-Integrated Information • Single-Source Data • Diverse types of data offered by a single company. The data are usually integrated on the basis of a common variable such as geographic area or store

  14. Sources for Global Research • Global Secondary Data • Typical limitations of secondary data • Additional pitfalls • Unavailable in some countries • Questionable accuracy • Lack of standardized research terminology

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