Chapter+4

Chapter 4: Using Secondary Data and Online Information Databases
 * 1.1 Describe how secondary data may add value to primary data**
 * 1) Can provide Knowledge of the industry.
 * 2) Identify sales and profit trends.
 * 3) Identify major competitors.
 * 4) Identify concepts and data that may be useful.


 * 1.2 Describe some uses of secondary data **
 * 1) Determining the population and growth rate in any geographical area.
 * 2) Evaluate market performances.
 * 3) The volumes of fuels consumed in the province.
 * 4) Lifestyles.
 * 5) Purchasing habits.
 * 6) Trends.

During normal business transactions companies gather internal data on customers and maintain it in a database. Database Marketing uses and stores much more than just your name they may track your purchases and service orders to target certain segments of the market. Database Marketing allows companies to know much more about you, what you liked, returned etc. The company then uses this data to contact and build relationships based on the information they have.
 * 1.4 What is database marketing and what is customer relationship management (CRM)?**

CRM is when companies manage their interactions with customers and gather internal data to direct market to customers and strengthen their relationships. Companies can also use this data to find potential clients, and generate leads. For example a dentist uses this to remind patients of appointments or to let clients know they are due for a cleaning. This makes the client feel like their dentist cares building a better relationship.

> - Compared to primary data, secondary data is relatively less expensive. primary data begins at a couple thousand dollars in price and can exceed that figure depending on the amount of research needed. When comparing the price factor of primary to collecting secondary data, it is more expensive. > - Primary data can take up to several months to collect versus secondary data that can take a few minutes over the internet for free essentially. > - As technology improves, secondary data becomes more available. Secondary data is said to grow into a more effective way of market research as searching data and records becomes more efficient and easy to locate. > - Secondary data can act as a starting point for primary data. This is a due to that secondary research is full of basic industry data like sales and profit, major competitors and industry issues. > - Think of secondary data as an overview of details found in primary data. > > Ethics regarding primary and secondary data: > http://staff.lib.msu.edu/nicho147/Research/fulltext.pdf >
 * 2.1 What are 5 Advantages of Secondary data? Discuss the disadvantages.**
 * 1) Lower Cost.
 * 1) Time Saving.
 * 1) Usually Available.
 * 1) Helps to make primary data more specific.
 * 1) Allows you to access the data you could not otherwise get.

The disadvantages to secondary data is the data may be outdated, we live in rapidly changing times if your data is outdated it may have no relevance to the current market. Also you have no control on how the data was collected or how accurate it is. It may not be specific to the researchers needs it is important that researchers identify and manage the disadvantages of secondary data.

Watch this short video about CRM []

Most of the libraries list the books and other publications they have in electronic records that are categorized to make the searching easier. When locating secondary data sources, it is necessary to follow three steps. The first step consists in identifying what you wish to know and what it is already known about the topic. Some facts must be clearly defined when searching (relevant facts, key papers, names, organizations associated and the topic). The second step is to develop a list of key terms and names that provide access to secondary sources. When developing the list, it is useful to consult business dictionaries and handbooks. New terms should be added to the list every time a new source is consulted. It is important to use the right terminology using synonyms or related terms. The last step is to do the research using different sources such as:
 * 3.1 Locating secondary data in a library.**
 * Reference Guides
 * Bibliographies
 * Manuals, Handbooks
 * Dictionaries
 * Encyclopedias
 * Directories
 * Statistical Sources
 * Legal sources

A standard subject heading is a specific word or phrase that is used to correctly categorize the subject of records (units of information that can represent a customer, a supplier, a product, etc.) as it is introduced into databases describing a particular subject. For example, instead of searching on the words "finding a job", the standard subject heading would be "job applications". To increase the searching efficiency when using online information databases it is necessary to take advantage of the standard subject headings. All the publications regarding a specific topic are organized in a specific category in an electronic database that can be searched with some strategies to avoid false results. These false results are usually keywords. The computer database will show any document that has the keyword anywhere in the record, for example, if someone is searching on the word skate, the meaning may be to glide on ice or the fish, resulting in documents with irrelevant information. Another example of a standard subject heading is if we are looking for information about alternative energy, thousands of documents will appear. But if we enter solar panels on a house, the documents provided by the database will be fewer and closer to what we are looking for. It is important to select Advanced Search to specify as good as possible the topic we are searching. A useful site where we can do our research is ABI/Inform Global, a popular online database owned by ProQuest.
 * 3.2 What is a standard subject heading? Explain why knowing how to find a standard subject heading would help increase your information searching skills when using online information databases.**

See also

ABI/Inform Global [] []

Syndicated data is data that is collected in a standard format and made available to all subscribers. For example Performer Q is the service for ratings of around 1700 performers. Data for all the performers is the same, standardized regardless of who uses the data, and is available to all who subscribe ( advertisers, TV and movie production companies, talent and public relations companies). Key advantages are shared costs since a number of firms are subscribing for the data, another advantage is that the information is that syndicated data firms set up procedures and methods for collecting data over and over again keeping the information up to date.A disadvantage is that buyers have little control over what information is being collected. Standardized services refers to a standardized marketing research process that is used to generate information for a particular user. An advantage is taking advantage of the experience of the research firm offering the service,also the cost and efficiency is an advantage because of the number of times the firm will performs marketing research for companies. A disadvantage is its not a customized service(although some firms offer customization) usually they cannot design a service specifically for the project at hand.
 * 4.2 Distinguish between syndicated data and standardized information, consider advantages and disadvantages of each.**

Focus Canada: a quarterly survey of 2000 Canadians about attitudes political,economical and social issues Maritz poll: is a global poll which focuses on opinions regarding consumer products and services, such as financial services Gallup poll: globally used to discover peoples attitudes towards social political and economic issues Harris poll online: which reports results from respondents around the globe
 * 4.3 Name four broad types of applications of standardized information, and give an example of each.**