Desk research is also known as secondary research. Desk research is analyzing already existing information from various sources and creating research reports according to the business requirements. Online desk research leverages the Internet as the major information source. Various advantages of online desk research are as follows –
- Preliminary Assessment of Market
Desk research is a good option for a preliminary study of the markets. It can be used highly effectively to provide leads that help the decision makers to get more detailed analysis about the market situation.
- Competitive Intelligence
Competitive Intelligence is more than analyzing competitors. Having a clear picture of competitors both existing and potential is always crucial. Online desk research is a better option to evaluate some areas of the competitive intelligence. Internet has various sources like business websites, trade associations websites, research websites, government portals etc. These sources will help to get good information about the competitors.
- Market Trends
Identifying market trends is the basic requirement to run a business. Many databases of articles and reports can be accessed through the Internet. By using these databases online desk research produces both contemporary and historical framework of the market trends. These frameworks allow identifying new market trends and drawing parallels.
- Quick Reference
Desk research provides a quick reference to the already existing information without much effort. In examining information like social, economic or demographic trends it is a better option than the primary research.
- Leverage Published Data
Internet contains information from many sources like businesses, academic institutions, trade associations, government agencies etc. These resources are put into good use to get the desired results in online desk research. As a result online desk research becomes economical and takes less time to yield results.
- Aids Primary Research
Carrying out an initial desk research is strongly recommended to gain background knowledge to a subject. Though the desk research has a disadvntage of processing outdated data, this data can give cruicial leads for primary research. This approach has a potential that can add a new dimension to primary research.
Typically, secondary data accessed through desk research is initially generated through primary research. Online desk research can be very fruitful when it is viewed as preliminary guide to the market. It is a better option to carry out online desk research first and then filling the gaps through the primary techniques.