Prepare a summary on secondary data digital age research with the help of given slides. Make sure to add all the information from the slides. (Do not copy)

Data gathered and recorded by someone else prior to and for a purpose other than the current project Is often: - Historical Already assembled Needs no access to subjects Disadvantages of Secondary Data - Uncertain Accuracy - Data Not Consistent with Needs - Inappropriate Units of Measurement - Time Period Inappropriate (Dated) Evaluating Secondary Data (continued) \begin{tabular}{|l|l|l|} \hline Applicability to project objectives & Do the other terms and variable classifications presented apply? \\ \hline Ace the units of measurement comparable? \\ \hline If possible, go to the original source of the data? \\ \hline Accuracy of the data \\ \hline \end{tabular} Common Research Objectives for Secondary Data Studies \begin{tabular}{|ll} \hline Fact Finding & - Identifying consumption patterns \\ \hline & - Tracking trends \\ \hline Model building & - Estimating market potential \\ & - Forecasting sales \\ \hline & - Selecting trade areas and sites \\ Data Base Marketing & - Development of Prospect Lists \\ & - Enhancement of Customer Lists \end{tabular} Fact Finding Identify consumer behavior - Trend analysis - Environmental scanning Model Building Internal Data Internal and proprietary data is more descriptive - Accounting information - Sales information - Backorders - Customer complaints External Data - Created, recorded, or generated by an entity other than the researcher's organization - Government - Trade associations - Newspapers and journals