secondary data

Examples of secondary data in the following topics:

• Primary Market Research

  • It is often undertaken after the researcher has gained some insight into the issue by reviewing secondary research or by analyzing previously collected primary data.
  • It is often undertaken after the researcher has gained some insight into the issue by reviewing secondary research or by analyzing previously collected primary data.
  • Compared to secondary research, primary data may be very expensive in preparing and carrying out the research.
  • It takes longer to undertake primary research than to acquire secondary data.
  • All research, whether primary or secondary, depends eventually on the collection of primary research data.

• Researching Consumer Markets

  • There are two main sources of data - primary and secondary.
  • Secondary research already exists since it has been collected for other purposes.
  • It is conducted on data published previously and usually by someone else.
  • Secondary research costs far less than primary research, but seldom comes in a form that exactly meets the needs of the researcher.

• Chapter Summary

  • But the challenge is not just collecting the data, but how to transform it and how to use it.
  • The right definition of the problem should allow us to obtain the needed data.
  • It includes incorporating knowledge from secondary information, analysis, qualitative research, methodology selection, question measurement and scale selection, questionnaire design, sample design and size, and determining the data analysis to be performed.
  • There are a variety of data collection methodologies to consider.
  • Performing data analysis: This is the process of analyzing the collected data, and transforming complex to simple information.

• Data and Information

  • Data consists of nothing but facts, which can be manipulated to make it useful; the analytical process turns the data into information.
  • Binary files (readable by a computer but not a human) are sometimes called "data" and are distinguishable from human-readable data, referred to as "text" .
  • Once data is in digital format, various procedures can be applied on the data to get useful information.
  • Data processing may involve various processes, including:
  • Data processing may or may not be distinguishable from data conversion, which involves changing data into another format, and does not involve any data manipulation.

• Sampling

  • Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications.
  • It is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services.
  • The three main advantages of sampling are that the cost is lower, data collection is faster, and since the data set is smaller, it is possible to ensure homogeneity and to improve the accuracy and quality of the data.
  • They may start with secondary research to get background information, then conduct a focus group (qualitative research design) to explore the issues.

• Boycotts

  • Union boycotts, or secondary action, is industrial action by a trade union in support of a strike initiated by workers in another, separate enterprise .
  • In continental Europe, secondary action is generally lawful and the right to strike is seen as a part of a broader political freedom.
  • Secondary action is illegal in the United States.
  • Also known as secondary action, is industrial action by a trade union in support of a strike initiated by workers in another, separate enterprise.
  • Differentiate between a trade dispute with a worker's direct employer and "secondary action"

• TQM’s seven basic elements

  • Essential elements of the TPS culture include studying process flow, collecting data, driving out wasteful non-value-added activities, and making everyone responsible for quality improvement.
  • With simple changes in procedures that prevented patients from getting these secondary illnesses, the hospital was able to save USD 40,000 per patient in these cases.
  • Quality tools: Discussion of the details of quality tools extends beyond the scope of this chapter, but there are seven basic quality tools that are used by front-line workers and managers in monitoring quality performance and gathering data for quality improvement activities.

• The Discount Rate

  • The Fed offers three discount window programs to depository institutions: primary credit, secondary credit, and seasonal credit, each with its own interest rate.
  • Depository institutions that are not eligible for primary credit may apply for secondary credit to meet short-term liquidity needs or to resolve severe financial difficulties.
  • (Because primary credit is the Federal Reserve's main discount window program, the Federal Reserve, at times, uses the term "discount rate" to mean the primary credit rate. ) The discount rate on secondary credit is above the rate on primary credit.
  • Describe the Fed's primary credit, secondary credit, and seasonal credit lending programs

• Analytical Mindset

  • Deriving, interpreting, and communicating patterns within data allows managers to make informed strategic and tactical decisions.
  • The derivation, interpretation, and expression of patterns within data sets is referred to as analytics.
  • Pursuing objective, fact-based decision-making and data-driven conclusions requires a commitment to an analytical mentality.
  • In the current technological environment of big data, analytics has never been more relevant and central to the organization.
  • With endless data available, it is easier than ever to derive advantage or make substantial mistakes in digesting this data.

• Lean-thinking weaknesses

  • Lean-thinking methodology is seen or addressed as a tertiary or secondary issue,