Session 3 (10.08.10)

Data Sources


• There are two types of data
–  Primary Data
– Secondary Data

• Research designer has a wide variety of methods for data collection. He may use it singly or in combination.

• Secondary Data are already available, as they were collected for some purpose other than solving the present problem.

• Primary Data are collected especially to address a specific research objective.

• A variety of methods, ranging from qualitative research to surveys to experiments, may be employed.

Primary Data


• Primary Data are originated by a researcher for the specific purpose of addressing for the problem at hand.
• Collection of primary data involves all the steps of the marketing research process.
• Obtaining primary data can be expensive and time consuming.

Secondary Data


• Secondary data is the information that has already been collected for some other purpose (other than the problem at hand). These data can be located quickly and inexpensively.

 Comparison of Primary and Secondary Data

 Advantages of secondary data

1. 
   
   Secondary data are easily accessible.
2. 
   
   Relatively inexpensive
3. 
   
   Quickly obtained
4. 
   
   Secondary data helps you:
1. 
   
   Identify the problem
2. 
   
   Better define the problem
3. 
   
   Develop an approach to the problem
4. 
   
   Formulate an appropriate research design
5. 
   
   Answer certain research questions and test some hypothesis
6. 
   
   Interpret primary data more insightfully.

Disadvantages of secondary data

1. Collected for purposes other than the problem at hand, their usefulness to the current problem may be limited in several important ways, including relevance and accuracy.
2. The objectives, nature and methods used to collect the secondary data may not be appropriate to the present situation.
3. Secondary data may be lacking in accuracy
4. They may not be completely current or dependable.

Uses of Secondary Data

1. May actually provide enough information to resolve the problem being investigated
2. Can be a valuable source of new ideas that can be explored later through primary research.
3. Secondary data is prerequisite to collecting primary data. It helps to define the problem and formulate hypotheses about its solution.
4. Provides better understanding of the problem.
5. Secondary data is of use in the collection of primary data. Examining the methodology and techniques employed by other investigators in similar studies may be useful in planning the present one.
6. Helps to define the population, select the sample in primary information collection, and define the parameters of primary research.
7. Also serve as reference base against which to compare the validity and accuracy of primary data.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Limitations of secondary data

1. It is collected for some other purpose, hence may not be relevant for the problem on hand.
2. No control over data collection
3. May not be very accurate
4. May not be reported in the required form
5. May be outdated
6. May not meet data requirements
7. A no. of assumptions have to be made.