Internal V/S External Sources Of Data Collection


  Internal Sources

External Sources

Meaning Internal sourcesof data collection means data collected from the documents available with the company External sources of data   collection means the use of data published by external agencies.
Use   of   information Information available from internal sources can be used directly for research purpose. Modifications are not required Information available from external sources cannot be used directly as it is. Modifications as per the nature of research work are   required.
Examples Purchase records, sales records, periodical sales reports and annual reports are the examples of internal sources of data collection Trade journals, annual   reports of companies, surveys conducted by press, census reports etc. are examples of external sources of data collection.
Coverage Limitedcoverage as they relate to company only. Wide coverage as they are   varied in character
Reliability Internal sources are more reliable as they supply accurate data. Verification of data is not required External sources may not supply accurate data. Naturally, a verification of data before actual use is necessary
Availability Internal sources areeasily available and that too without any extra cost.


External sources arenot easily available Money is required   to be spent on them.


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