Using data already collected by someone else is known as?

Study for the IB Business and Management Standard Level (SL) Exam. Learn with flashcards and multiple choice questions, each question includes hints and explanations. Be well-prepared for your assessment!

Multiple Choice

Using data already collected by someone else is known as?

Explanation:
Using data already collected by someone else is secondary research. This means you’re analyzing information that wasn’t gathered for your current project, such as government statistics, industry reports, or academic papers. It’s usually quicker and cheaper than collecting new data yourself, but it may be less tailored to your specific needs and could be outdated. Primary research would involve gathering new data directly through surveys, experiments, or observations. Desk research is a type of secondary research done from published sources at a desk, but the broader term for using existing data is secondary research. Quantitative research refers to data that can be measured numerically and can be either primary or secondary.

Using data already collected by someone else is secondary research. This means you’re analyzing information that wasn’t gathered for your current project, such as government statistics, industry reports, or academic papers. It’s usually quicker and cheaper than collecting new data yourself, but it may be less tailored to your specific needs and could be outdated. Primary research would involve gathering new data directly through surveys, experiments, or observations. Desk research is a type of secondary research done from published sources at a desk, but the broader term for using existing data is secondary research. Quantitative research refers to data that can be measured numerically and can be either primary or secondary.

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