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Why Organisations Should Spend Time Gathering Secondary Data Prior to Undertaking Primary Research?
Pages 9 (2259 words)
Managing a business well in today’s dynamic world requires having updated information about the present, to be able to predict the future more precisely. This requires undertaking a marketing research.
An organization may carry out primary research in which researchers gather facts about the prevailing situation through observation, surveys, and behavioral data and through experimentation. Most organizations initially gather secondary data before undertaking the primary research. Secondary data are data about the subject at hand that may be already into existence somewhere within the reach of the organization, having being collected by the organization or another body and therefore the information may be useful partly or wholly in handling the problem at hand. Reasons Why Organizations Spend Time Gathering Secondary Data The information that already exists somewhere may help the researching organization in expanding its knowledge regarding the problem to be solved. The company may use such report to find out what others have done in a particular field of study. The secondary data may also help an organization it its preparation for primary research, by helping in identifying the tools and materials that need to be used in order to make the future research successful. The secondary materials may also help an organization to understanding the progress that other researchers have made. ...
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