Sources of information are those items which you can obtain information necessary for decision-making in the company.
At every level of the company, often it requires different types of information, for example:
- On the upper level (consisting of executives, managers, etc.) may require information necessary to design strategies that determine the direction of the company, or allow its expansion (often requires specific and timely information).
- At the middle level (consisting of leaders, administrators, etc.) may be required information needed to design trading strategies (often requires more detailed than the previous level information).
- At the operational level (made by operators, vendors, etc.) may require information necessary for the execution of tasks (usually requires more detailed information than in the previous level).
And to obtain the required information to the information sources are used, which can be divided into internal and external sources:
They are sources that are within the company.
Examples of internal sources can be the internal databases (which, for example, allow information about guests), financial statements (for example, allow information concerning the financial situation of the company), records inventory, sales records, records of costs, staff of the company, etc.
They are sources that are outside of the company.
Examples from external sources may be Internet (websites of government agencies, competition sites, etc.), government offices, local competition, suppliers, distributors, customers, newspapers, magazines, publications, etc .; where you can get information on statistics, trends, preferences, etc.
Also, sources of information can also be classified into primary and secondary sources:
They are the sources that provide information or data “first hand”, that is, information obtained directly by the company.
The primary sources, generally are more expensive than secondary sources, they should be used when there are no secondary sources, or when the information they provide the latter is insufficient or inadequate.
Examples of primary sources include those questioned, interviewed or surveyed for market research, the company personnel, sales records, sales staff, etc.
They are the sources that provide information or data that have been published or collected for purposes other than current.
Secondary sources, usually, are inexpensive and are obtained quickly, so you should look first before the primary sources.
Examples of secondary sources are the databases of the company, commercial database, government agencies, associations, chambers of commerce, statistics institutes, universities, research centers, trade shows, libraries, books, newspapers, magazines, publications, etc.