Internal V/S External Sources Of Data Collection

	Internal Sources	External Sources
Meaning	Internal sourcesof data collection means data collected from the documents available with the company	External sources of data collection means the use of data published by external agencies.
Use of information	Information available from internal sources can be used directly for research purpose. Modifications are not required	Information available from external sources cannot be used directly as it is. Modifications as per the nature of research work are required.
Examples	Purchase records, sales records, periodical sales reports and annual reports are the examples of internal sources of data collection	Trade journals, annual reports of companies, surveys conducted by press, census reports etc. are examples of external sources of data collection.
Coverage	Limitedcoverage as they relate to company only.	Wide coverage as they are varied in character
Reliability	Internal sources are more reliable as they supply accurate data. Verification of data is not required	External sources may not supply accurate data. Naturally, a verification of data before actual use is necessary
Availability	Internal sources areeasily available and that too without any extra cost.	External sources arenot easily available Money is required to be spent on them.

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