Primary data is information obtained directly from a data source without the need to consult additional sources. It’s usually gathered for a specific study topic, but it may also be published openly and utilized in other studies.
For instance, information gathered by businesses during market research, product development, and competition analysis.
Government-authorized organizations, investigators, research-based private institutions, and others are among those that gather primary data.
Pros
The researcher has complete control over the information gathered during primary research. He has complete control over the design, method, and data analysis techniques to be employed, and the data is free of personal bias, allowing the legitimacy of the data to be believed.
The researcher owns the data collected via primary research.
Primary data is generally up to date since it gathers data in real-time and does not acquire data from outdated sources. He or she may choose to make it freely available, patent it, or even sell it. Cons
Primary data is more expensive than secondary data and takes more time to obtain.
Due to its complexity and time commitment, primary data may not be practical in some circumstances.
Secondary Data
Secondary data are data that has previously been collected by someone else but has been made available for use for others. They were probably previously main data, but when they are reused by a third party, they become secondary.
When writing a research thesis, for example, researchers must reference previous works on the topic and incorporate their results into the literature review. Other secondary material, including definitions and theorems, are added to the thesis so that it may be correctly referred to and mentioned.
Secondary data sources include trade periodicals, journals, government statistics and other secondary data sources.
Pros
Secondary data is more easily available than primary data, and it is also less expensive.
Secondary data collection takes a fraction of the time that primary data collection takes, and it aids in the generation of new insights from existing primary data.
Cons
Secondary data may not be accurate or trustworthy.
It’s possible that researchers may have to deal with irrelevant data before obtaining the data they need.
Some of the data is inflated owing to the data source’s personal bias.
Secondary data sources might be out of current at times.
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Primary Data
Primary data is information obtained directly from a data source without the need to consult additional sources. It’s usually gathered for a specific study topic, but it may also be published openly and utilized in other studies.
For instance, information gathered by businesses during market research, product development, and competition analysis.
Government-authorized organizations, investigators, research-based private institutions, and others are among those that gather primary data.
Pros
The researcher has complete control over the information gathered during primary research. He has complete control over the design, method, and data analysis techniques to be employed, and the data is free of personal bias, allowing the legitimacy of the data to be believed.
The researcher owns the data collected via primary research.
Primary data is generally up to date since it gathers data in real-time and does not acquire data from outdated sources. He or she may choose to make it freely available, patent it, or even sell it. Cons
Primary data is more expensive than secondary data and takes more time to obtain.
Due to its complexity and time commitment, primary data may not be practical in some circumstances.
Secondary Data
Secondary data are data that has previously been collected by someone else but has been made available for use for others. They were probably previously main data, but when they are reused by a third party, they become secondary.
When writing a research thesis, for example, researchers must reference previous works on the topic and incorporate their results into the literature review. Other secondary material, including definitions and theorems, are added to the thesis so that it may be correctly referred to and mentioned.
Secondary data sources include trade periodicals, journals, government statistics and other secondary data sources.
Pros
Secondary data is more easily available than primary data, and it is also less expensive.
Secondary data collection takes a fraction of the time that primary data collection takes, and it aids in the generation of new insights from existing primary data.
Cons
Secondary data may not be accurate or trustworthy.
It’s possible that researchers may have to deal with irrelevant data before obtaining the data they need.
Some of the data is inflated owing to the data source’s personal bias.
Secondary data sources might be out of current at times.
Answer: