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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