Data that is often used by a business for comparative purposes,marketing projects,and economic analyses would be categorized as ________.
A)internal data
B)special studies
C)ordinal data
D)external data

Question

Quizplus · Accepted Answer

External data is data that is collected from sources outside of the business, such as government agencies, industry associations, and market research firms. This type of data is often used for comparative purposes, marketing projects, and economic analyses, as it provides insights into broader industry trends, competitor behavior, and consumer behavior. Internal data (A) refers to data that is generated within the business, such as sales records, customer data, and employee data. Special studies (B) are one-time projects that are conducted to answer a specific research question or to address a particular business issue. Ordinal data (C) refers to data that can be ranked in order, but does not have a meaningful numerical value (e.g. rankings of favorite colors).

Data That Is Often Used by a Business for Comparative