What Is Primary Data And What Are Sources Of Collection Of Secondary Data?

Although primary and secondary data do have their differences and individual merits, it’s important to remember that both forms of information can be really beneficial to a business model.  Primary data allows the teams within a company to establish a closer relationship with their consumers, asking tailored questions via questionnaires, face-to-face group discussions and cold calling in order to establish whether there is demand for an upcoming product.  Because you are in control of the data you collate, it’s easier to eradicate irrelevant information that doesn’t really add anything to your overall objectives.

Secondary data is also ideal for businesses, with the difference being that another agency or company may have already compiled data that is relevant to your industry, allowing you to find out the answers to the questions you have.  Although getting access to these findings can be expensive, you have to remember how expensive it would have been to arrange focus groups, and the cost of creating, distributing and digesting questionnaires.

When it comes to finding sources of collection for secondary data, you have a substantial amount of choice.  If you’re on a budget, you may consider visiting the British Library which has extensive white papers and reports available for people like you.  Alternatively, visiting specialist market research communities such as Mintel will enable you to discover the true size of an industry, average expenditure per consumer, and to evaluate the trends and changes that your sector may experience in the future. Without secondary data, you may not be able to gain the foresight needed to maintain your business’ competitive advantage, delivering what your consumers want.

Primary data are those data which are collected for the first time, taking a sample, representing a population. It is not a published data, it is problem specific data collected by the researcher, first time. When primary data is published by researcher, it becomes the secondary data for everybody, other than the researcher.

Secondary data are those data, which are already published. It may be useful for many other person than the researcher who has published it. There are various sources of secondary data collection.
Four main sources are-
Government sources, which includes development of census reports, central govt. Records and state & local govt. Records.

Commercial sources, including commercial agencies, such as advertising agencies and marketing research agencies

Industry sources, under this trade publications, professional and trade associations publications, and individual firms can be included.

Miscelleneous sources, includes reports from institutes, academic areas etc.

Primary Data is first hand data which is collected by researcher by its own observation to solve any problem or to take decision. Primary data helps researcher to solve those problems which are  new in nature. The main sources of collection of primary data are interview, filling questioners, observation etc.

A) Using an example of your own, describe the sources for the collection of data, both primary and secondary.

A which we collect from individuals is called  primary data.by zaheer abbas

Primary data can be collected either through experiment or through survey

Primary data is like stuff made from scratch that does not have to go through the process of being made for example ;
Raw Material
Farming
Mining
Oil
Fishing

Secondary Data Is Like
Finished Goods
Walkers Crisps
Heinz
Packaging
Part Goods

Hope This Helps :)

I don't know but Secondary data is data collected by someone other than the user. Common sources of secondary data for social science include censuses, surveys, organizational records and data collected through qualitative methodologies or qualitative research. Primary data, by contrast, are collected by the investigator conducting the research don't know if that will  help

Primary data is like you make up a story and secondary data is when the story gets passed down from generation to generation and may get changed a bit...I luv math!!!