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What are The Differences Between Primary Data and Secondary Data?

What Are The Differences Between Primary Data and Secondary Data?

What are The Differences Between Primary Data and Secondary Data

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What Are The Differences Between Primary Data and Secondary Data?

What Do You Mean by Data?

Data are raw, Disorganized facts and figures collected from any field of inquiry.

The term primary data refers to the data originated by the researcher for the first time. Secondary data is the already existing data, collected by the investigator agencies and organizations earlier.

 

The Basic Differences Between Primary Data and Secondary Data are shown here.

 Primary Data  Topics

 Secondary Data

The data which are obtained by direct observation from the population or sample is called primary data.

01.

Definition

The data which are already obtained by some other person are organizations and are already published or utilized are called secondary data.
It is original that collected from original sources.

02.

Originality

It is not original because it is collected from some organizations,  journals, newspapers and so on.
It involves large expenses in terms of time, energy and money.

03.

Expenses

It is a relatively less costly method.
If the data has been collected in a systematic manner,  It’s suitability will be positive.

04.

Suitability

It may or may not suit the objective of the survey.
Primary data is more reliable than secondary data.

05.

Reliable

It is less reliable than primary data.
Primary data is completely independent.

06.

Dependency

Secondary data is depend on primary data.
No extra precautions need to take in making use of primary data.

07.

Precautions

It should be used with care.

 

The distinction of primary and secondary data, meaning and Effect in a very simple way.

What Are The Differences Between Primary Data and Secondary Data?

 

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About Ela Zaman

Ela Zaman is a Top Author at BBALectures who writes about business issues and helps finance professionals as well as Fin-tech startups build an audience and get more paying clients online.

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