explain the meaning of ' primary data ' clearly
Answers
Primary data is data that is collected by a researcher from first-hand sources, using methods like surveys, interviews, or experiments. It is collected with the research project in mind, directly from primary sources. The term is used in contrast with the term secondary data.
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Answer : Primary Data
Explanation :
Primary Data Definition :
Primary data is the data that is collected for the first time through personal experiences or evidence, particularly for research. It is also described as raw data or first-hand information. The mode of assembling the information is costly, as the analysis is done by an agency or an external organization, and needs human resources and investment. The investigator supervises and controls the data collection process directly.
The data is mostly collected through observations, physical testing, mailed questionnaires, surveys, personal interviews, telephonic interviews, case studies, and focus groups, etc.
Most popular examples of primary data sources are:
- Interview (personal interview, telephone, e-mail)
- Self-administered surveys and questionnaires
- Field observation
- Experiments
- Life histories
- Action research
- Case studies
- Diary entries, letters, and other correspondence
- Eyewitness accounts
- Ethnographic research
- Personal narratives, memoirs
Primary Data Collection Methods :
- Interviews
- Surveys & Questionnaires
- Observation
- Focus Groups
- Experiments
Importance of Primary data:
- Validity: You can’t ignore the significance of primary data in this era. The validity of this data depends on the efforts kept while doing research that makes it trustworthy and scientific.
- Authenticity: It depends on the actuality of the research. It will not provide you proper results if researchers do some malpractices by adding some misleading information.
- Reliability: It specifies the certainty of the research made; for instance, if researchers conclude a certain parameter that must be based on the conducting experiment on the real-time scenario, it should not be based on assumptions.
Advantages of primary data:
- Resolve specific research issues :
Performing your own research allows you to address and resolve issues specific to your own business situation. The collected information is the exact information that the researcher wants to know and he reports it in a way that benefits the specific situation in an organization. Marketers and researchers are asked to find data regarding specific markets instead of finding data for the mass market. This is the main difference from secondary data.
- Better accuracy :
Primary data is much more accurate because it is directly collected from a given population.
- A higher level of control :
The marketer can control easily the research design and method. In addition, you have a higher level of control over how the information is gathered.
- Up-to-date information :
The primary market research is a great source of latest and up-to-date information as you collect it directly from the field in real-time. Usually, secondary data is not so up-to-date and recent.
- You are the owner of the information :
Information collected by the researcher is their own and is typically not shared with others. Thus, the information can remain hidden from other current and potential competitors.
Disadvantages :
- More expensive :
It could be very expensive to obtain primary data collection methods because the marketer or the research team has to start from the beginning. It means they have to follow the whole study procedure, organizing materials, process, etc.
- Time-consuming :
It is a matter of a lot of time to conduct the research from the beginning to the end. Often it is much longer in comparison with the time needed to collect secondary data.
- Can have a lot of limits :
Primary data is limited to the specific time, place or number of participants etc. To compare, secondary data can come from a variety of sources to give more details.
- Not always possible :
For example, many researches can be just too large to be performed by your company.
To know more about the concept please go through the links :
https://brainly.in/question/32085528
https://brainly.in/question/10826370
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