Government statistics are widely available and easily accessed online, and can provide insights related to product shipments, trade activity, business formation, patents, pricing and economic trends, among other topics. Industry associations typically have websites full of useful information — an overview of the industry and its history, a list of participating companies, press releases about product and company news, technical resources, and reports about industry trends.
Some information may be accessible to members only such as member directories or market research , but industry associations are a great place to look when starting to learn about a new industry or when looking for information an industry insider would have. Trade publications , such as periodicals and news articles, most of which make their content available online, are an excellent source of in-depth product, industry and competitor data related to specific industries.
Oftentimes, news articles include insights obtained directly from executives at leading companies about new technologies, industry trends and future plans. Company websites can be virtual goldmines of information. For a fee, they can provide a great overview of an industry, including quantitative data you might not find elsewhere related to market size, growth rates and industry participant market share.
With all these sources of secondary data, you should be all set, right? If you are interested in a niche product or a new technology, there may not be a lot out there in the public sphere. The most current information you can find might be a few years old.
You might not be sure if the material you found online reflects an accurate portrayal of the whole industry. Methods of primary data collection vary based upon the goals of the research, as well as the type and depth of information being sought. In-depth interviews present the opportunity to gather detailed insights from leading industry participants about their business, competitors and the greater industry.
The data collection is under direct control and supervision of the investigator. The data can be collected through various methods like surveys, observations, physical testing, mailed questionnaires, questionnaire filled and sent by enumerators, personal interviews, telephonic interviews, focus groups, case studies, etc. Secondary data implies second-hand information which is already collected and recorded by any person other than the user for a purpose, not relating to the current research problem.
It is the readily available form of data collected from various sources like censuses, government publications, internal records of the organisation, reports, books, journal articles, websites and so on.
Secondary data offer several advantages as it is easily available, saves time and cost of the researcher. But there are some disadvantages associated with this, as the data is gathered for the purposes other than the problem in mind, so the usefulness of the data may be limited in a number of ways like relevance and accuracy. Moreover, the objective and the method adopted for acquiring data may not be suitable to the current situation. Therefore, before using secondary data, these factors should be kept in mind.
The fundamental differences between primary and secondary data are discussed in the following points:. As can be seen from the above discussion that primary data is an original and unique data, which is directly collected by the researcher from a source according to his requirements.
As opposed to secondary data which is easily accessible but are not pure as they have undergone through many statistical treatments. Thank you for the information it is of great importance to us as Anderson students who have the privilege to use internet for our assignments. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment. Key Differences Between Primary and Secondary Data The fundamental differences between primary and secondary data are discussed in the following points: Secondary data, on the other hand, are likely to have been gathered for some other purpose or for an unclear purpose.
Often secondary data have already been analysed, which can bring in an element of subjectivity. If secondary data gathered for one purpose are used for another they may not be valid for the second purpose. Primary data might be considered to be more trustworthy, in that they have greater validity than secondary data. If they are collected objectively, with careful planning and sampling, controls in place and other features of methodology adhered to, then they are likely to be scientifically gathered for the stated aim of the study.
This means that they are more credible. If, however, data gathered for one purpose are used for a different purpose or aim, then this use of secondary data might lack credibility. Primary data are likely to be gathered at the time of the study and conclusions will be drawn then. Secondary data , however, might have been gathered some time ago. Conclusions drawn from these data might not be valid, as cultures, for example, change over time, as do people.
Primary vs Secondary Data Data can be quantitative or qualitative, primary or secondary. Evaluating the use of primary and secondary data in research Primary and secondary data can be compared in terms of cost one is relatively more expensive than the other , validity one is more valid, perhaps and strength of the conclusions one is more trust-worthy and credible.
Relative cost Primary data are expensive to obtain because each researcher or research team has to start from the beginning of a study and follow the whole study through, including finding participants, organising materials and running the study.
Data collection plays a very crucial role in the statistical analysis. In research, there are different methods used to gather information, all of which fall into two categories, i.e. primary data, and secondary data.
Data collection is a process of collecting information from all the relevant sources to find answers to the research problem, test the hypothesis and evaluate the outcomes. Data collection methods can be divided into two categories: secondary methods of data collection and primary methods of data.
Methods of Data Collection- Primary and Secondary Data There are two types of data Primary Data and Secondary Data → blossomlamar8.mly Data → Raw data or primary data is a term for data . that secondary data analysis is a viable method to utilize in the process of inquiry when a systematic procedure is followed and presents an illustrative research application utilizing secondary data analysis in library and information science research.
Need to know what market research methods to use? This article defines primary data vs. secondary data, provides helpful examples, and offers resources. Get an answer for 'What is the difference between primary and secondary research data?' and find homework help for other Research Methods and Processes questions at eNotes.