Which of the Following Is an Advantage of Secondary Data

question 124

Multiple Choice

Which of the following is an advantage of secondary data collection?

• A) It always provides data that is specific to immediate needs.
• B) It requires sophisticated training and hence is always accurate.
• C) It offers in-depth consumer behavioral insights.
• D) It guarantees information without bias.
• E) It saves time and effort in collecting and analyzing.

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Definitions:

Idea Generation

The process of creating, developing, and communicating new concepts or solutions, often an initial step in the creative or innovation process.

Formal Business Plan

A detailed document that outlines the goals, strategies, financial forecasts, and market analysis of a business.

Financial Projections

Estimates of future financial performance of a business, including projected income, revenue, and expenses.

Team

A group of individuals working together towards a common goal, often characterized by collaboration, communication, and collective effort.