Secondary data is defined as:

Secondary data refers to information that has been collected by someone other than the user for a purpose different from the current research or analysis being conducted. This type of data is often available from various external sources and can include academic research, government publications, databases, and reports. Organizations can purchase secondary data or find it freely available, making it a cost-effective way to gather insights without the need for extensive research efforts.

Utilizing secondary data can be beneficial in a number of scenarios, such as market analysis, competitive research, or understanding broader industry trends, as it allows businesses to access a wealth of information without having to collect it all themselves. Overall, identifying and using secondary data effectively can save time, resources, and enhance decision-making processes based on existing research and data sets.