Podcast
Questions and Answers
What type of data is generated within the organisation or entity?
What type of data is generated within the organisation or entity?
Which type of data provides valuable insights into industry trends and competitor activities?
Which type of data provides valuable insights into industry trends and competitor activities?
What is an example of external data source?
What is an example of external data source?
Which type of data is repurposed for a new context?
Which type of data is repurposed for a new context?
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What offers unique and specific insights tailored to a particular research question or organisational need?
What offers unique and specific insights tailored to a particular research question or organisational need?
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Which type of data includes financial reports of competitors?
Which type of data includes financial reports of competitors?
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Where can one find information and data generated within the organisation or entity?
Where can one find information and data generated within the organisation or entity?
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What type of information is included in secondary data?
What type of information is included in secondary data?
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Which of the following is an example of qualitative data?
Which of the following is an example of qualitative data?
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What does quantitative data primarily focus on?
What does quantitative data primarily focus on?
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Which type of data facilitates objective analysis and trend identification?
Which type of data facilitates objective analysis and trend identification?
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Where can one typically find sources of secondary data?
Where can one typically find sources of secondary data?
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What is the main purpose of utilizing qualitative data?
What is the main purpose of utilizing qualitative data?
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Which type of data saves time and resources compared to collecting primary data?
Which type of data saves time and resources compared to collecting primary data?
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What kind of information does quantitative data provide?
What kind of information does quantitative data provide?
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Study Notes
- Internal sources refer to information and data generated within an organization, such as financial reports and sales reports, obtained from databases, records, and feedback mechanisms.
- External sources involve information and data obtained from outside the organization, like supplier price lists and competitor financial reports, sourced from industry reports, market research, and external databases.
- Primary data is original data collected firsthand for a specific purpose through surveys, experiments, or observations, providing unique insights tailored to a research question or organizational need.
- Secondary data consists of existing data collected by others for different purposes but repurposed for new contexts, including information from research papers, industry studies, and publicly available datasets.
- Qualitative data is non-numeric information describing qualities or attributes, such as narratives and interviews, aiding in understanding complex phenomena and exploring attitudes and perceptions.
- Quantitative data, on the other hand, is numeric information that can be measured and statistically analyzed, including numerical measurements and structured survey responses, facilitating objective analysis and supporting data-driven decision-making.
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Description
Test your knowledge on different types of information sources and data types, including internal sources, external sources, primary data, secondary data, qualitative data, and quantitative data. Understand the process flow of information within organisations and entities.
