Secondary data is commonly classified into two main types: Internal data and External data.
Secondary data, which is information already collected and organized by someone else, is broadly categorized based on its origin. This classification helps in understanding the source and nature of the data, which is crucial for its effective utilization in research and decision-making.
Types of Secondary Data
According to KPU Pressbooks, there are two primary classifications for secondary data:
- Internal Data: This refers to information that an organization has stored or organized itself. It originates from within the organization's own operations and records.
- External Data: This type of data is organized or collected by someone outside the organization. It comes from various sources not directly affiliated with the organization's internal processes.
For a clearer understanding, here's a breakdown of these two types:
| Classification | Definition | Example Sources |
|---|---|---|
| Internal Data | Information stored or organized by the organization itself. | Sales records, customer databases, financial statements, employee records. |
| External Data | Data organized or collected by someone else. | Government publications, industry reports, academic research, market research firms, news articles. |
Understanding the Classification
The distinction between internal and external secondary data is fundamental for businesses and researchers.
- Internal data offers insights into the company's past performance, customer behavior specific to the organization, and operational efficiencies. It's often readily accessible and inexpensive to obtain, as it's already within the company's systems.
- External data provides a broader market view, including industry trends, competitor analysis, economic indicators, and demographic information. While often requiring more effort or cost to acquire, it's invaluable for understanding the larger environment in which the organization operates.
This clear classification allows for systematic data retrieval and analysis, ensuring that researchers can efficiently locate and utilize relevant information for their objectives.
