Question

difference between primary data and secondary data

Answer 1

PRIMARY DATA = WHEN THE FORMATION WAS COLLECTED BY THE INVESTIGATOR HIMSELF WITH A DEFINITE OBJECTIVE IN HIS MIND THE DATA OBTAINED IS CALLED PRIMARY DATA

SECONDARY DATA = WHEN THE INFORMATION WAS GATHERED FROM A SOURCE WHICH ALREADY HAD A INFORMATION STORED THE DATA OBTAINED IS CALLED SECONDARY DATA

Answer 2

Primary data:-

• This data is directly collected from first hand experience.

• This source of this type of data is surveys, interviews, case studies etc.

• This data is high cost/expensive.

• It needs higher level of control over data quality.

• It consume more time.

Secondary data:-

• It includes that data which is already collected for another purpose.

• The source of this type of data is govt. reports, historical data etc.

• This data is of low cost.

• It has lack of control over data quality.

• It consume less time.