An Introduction to Desk Research in Data Collection
Market research is a systematic approach to studying and evaluating markets to analyze whether and how a product/service will perform. Based on the approach of research, market research is of two types – Primary & Secondary. While primary research emphasizes conducting research from scratch by gathering data through surveys/polls/interviews, secondary or desk research utilizes previously collected data to find patterns and trends. Desk research is less expensive and easier to conduct compared to primary research. Continue reading as we take a look at desk research for data collection.
Overview
Secondary or desk research is a research method involving the use of existing data. It is based on the data published in various global reports/documents/dossiers that are available in the public domain. Desk research, as a data collection method, is way more cost-effective than primary research. The significance of desk research in business is that it provides market researchers with a direction to begin their research endeavors.
Benefits
There are many advantages of secondary research:
- Availability: In desk research, most of the data is readily available (data collected and analyzed) at various portals and is easily accessible with a few exceptions requiring payment of a fee.
- Cost-effective: It is no doubt that desk research costs less than primary research. Nowadays, data is easily available even on online platforms and all it takes is a device (laptop/computer/tablet) and an internet connection to access it. This is why market desk research is great for startups too.
- Clarity: Desk research makes planning primary research convenient. The previously researched data is vital in understanding where to organize surveys and who to ask.
Types of Desk-based Research
Desk research, based on the source of data, is of two types – Internal and External. Let’s have a look at both of them.
Internal Desk Research
Internal desk research is based on the data that comes from within the organization including reports, customer data, and sales analysis. Internal data can help understand and pinpoint which aspects of business operations need improvement. For instance, studying internal sales data may reveal how even though your marketing campaign might have performed well over the weeks you’re unable to make customers out of this new audience. Internal data can also be useful for highlighting areas that can be capitalized with new strategies.
External Desk Research
This type of desk research is based on data sourced from third-parties. It is a great way to evaluate market trends, competitor analysis, and growth projections from sources such as annual outlooks by corporate firms, journals by independent researchers, media coverage, and publishings issued by competitors and government agencies.
Final Word
Desk research in data collection provides a critical edge in market research. It guides the research project in the right direction, saves time and resources, and minimizes costs. While desk research is a great tool in itself for businesses with budget constraints, a combination of both primary and secondary research is generally advised. When searching for some of the best market research companies, choose the one that has years of expertise in offering primary and desk research services and leverages the latest technology for yielding optimum results as per your objectives.
