What type of data is referred to as secondary data?

Secondary data refers to information that has already been collected and is available for use, having been gathered for a purpose other than the current research or analysis in question. This type of data is often utilized in marketing research to inform decisions without the need for new data collection. Sources of secondary data can include academic papers, industry reports, government statistics, and previous surveys.

Utilizing secondary data has several advantages; it can save time and resources since it eliminates the need for fresh data collection. It also provides context and benchmarks that can enhance the understanding of the specific situation being analyzed. In contrast, primary data is collected directly for the specific purpose at hand, while options describing data as new and original or exclusively qualitative do not accurately capture the essence of what constitutes secondary data. Secondary data can incorporate both qualitative and quantitative information, making its definition broader than just one type of data.