5.1 Information Sources And Data Types

Question 1

What is an internal source

Answer 1

Those within an organisation:
Financial
Personal
Marketing
Purchasing
Sales
Manufacturing
Administration

Question 2

What is an external source

Answer 2

Those from outside the organisation
Supplier price lists
Financial information from a third party
Survey results

Question 3

What is primary data

Answer 3

Data observed or collected directly from the source. It has not had any analysis or processing. It is raw data.

Question 4

What is secondary data

Answer 4

Data collected by a third party and available from other sources, e.g. survey results from another company

Question 5

What is qualitative data

Answer 5

Data that is not numeric and can be arranged into categories

Question 6

What is quantitative data

Answer 6

Data that can be measured by numbers and can be classified as discrete or continuous