What are the sources of secondary data?
Secondary data is pre-existing data that can come from various sources, including government agencies, research institutions, commercial data providers, online databases, previous research, and company reports. It can save time and resources, but its quality and relevance should be evaluated before use.
Secondary data can be used for market research, trend analysis, or to validate primary data. An annual report is an example of secondary data as it is pre-existing information produced by a company.