I. Q: Why are secondary sources important in business research?
a. Secondary data help you gain perspective on the problem and identify and define what must be investigated
b. Secondary sources may contain adequate data to solve the problem, eliminating the need to collect primary data. In fact, some secondary sources contain more extensive and more valid data than you would be able to collect from primary sources
II. Q: What are the four steps in collecting secondary data?
a. Locating the data
b. Evaluating the data source
c. Extracting the data from its source
d. Keeping records
III. Q: What are the five criteria to help you evaluate the reliability of secondary sources?
a. Timeliness: is the source current? If outdated, the source should not be used
b. Relevance: does the source address the research problem?
c. Accuracy: is the source reliable and unbiased?
d. Quality: is the information verifiable, consistent, and properly referenced?
e. Cost: will the available data lead to an appropriate, cost-effective solution to the problem?
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