QUESTION 15 A company's sales data is a good example of Internal primary data External secondary data External primary data Internal secondary data
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The company's sales data is a treasure trove of insights collected directly from its operations, showcasing real-time performance and trends within the business. Utilizing this internal primary data can help companies fine-tune their strategies and boost efficiency like a well-tuned instrument! Moreover, understanding this kind of data can significantly enhance decision-making processes. Managers can analyze specific sales patterns, customer preferences, and seasonal fluctuations, allowing them to optimize inventory, tailor marketing campaigns, and ultimately drive profitability—think of it as navigating a ship using a detailed map rather than sailing blindfolded!