Question

Joseph is reviewing secondary data his company collected about seasonal variations in consumer spending because he is thinking about developing a new product line. The advantages of using these data include

Answer 1

The advantages of using secondary data are several, but its main advantage is that it is the cheapest way to gather large sets of information. A lot of secondary data is available on the internet, so it is time saving. Using secondary data saves work, efforts and money.

We can also use secondary data to determine more specifically which primary data we need to gather, again saving resources.