The use of data in every field has increased. Based on the objectives of the study, two types of data are identified: Primary data and Secondary Data. Primary data is collected directly by the researchers/organisations that go with the objectives of the study. Secondary data is the use of the available data prepared by the organisations/researchers previously and is available in the available databases.
Primary Data
The primary data is also called raw data which is collected first hand by the researchers. The primary data is collected according to the objectives laid out by the research. Apart from academic purposes, the primary data is also collected by the corporates, brands to assess the public’s perception and work on the development of the brand name. Even before the launch of a new product, a market survey is conducted by the brands to ascertain the probable markets, probable customer groups and geographical locations to promote the products. The companies keep collecting the primary data/ conducting market research and surveys to evaluate and correct their policies. Apart from the brands and researchers, the NGOs, developmental organisations and think tanks also undertake the primary data collection to assess the social scenarios before planning their interventions and suggesting the policies.The primary data is collected via the research tools of questionnaires, personal interviews, behaviour observations, one-to-one conversations, online and offline surveys etc.
Secondary Data
Take into consideration the impact of Covid-19, years later when the researchers want to assess the impact of a pandemic on different sectors, the data that they will be needing for assessment won’t be the primary data as it won’t be possible for the researcher to get the accurate data after the eradication of the pandemic. The data is collected by the government and private organisations that are maintained in a proper database which provides the necessary support to the future research being conducted on the same topic. The use of these collected data for future purposes is called secondary data. The organisations/individuals make use of the secondary data collected to study the impact of some phenomena and formulate future policies based on the same.The organisations make use of the secondary data for forecasting purposes as well. The econometric models are created and based on the past data available, future forecasting is made.The sources from which one can refer to reliable sources of data are journals, government databases, the UN databases, databases provided by the analytics company, financial data provided by the companies etc.
Point of Differences
Source and Practical Example
Primary DataThe primary data is often referred to as the raw data as the researchers go on the field themselves to collect data. For collecting primary data, the small section of the population is taken as a sample and the experiments/surveys are done with them to get the desired results. Further analysis is done based on which results are published.Secondary DataThe secondary data is sourced from the prepared databases provided by different organisations. The secondary data are often time-series data used for the analysis of a particular phenomenon or forecasting. The data is used in lieu of the objectives laid out by the research topic. Apart from academic purposes, another example of the use of secondary data will be the investors in the stock market who make use of the historical data to formulate their investment decisions.
Methods of Collection
Primary DataPrimary data is collected through the following tools:
- Questionnaire: A questionnaire is designed as per the purpose of the research topics and objectives to be filled by the sample population which gets further analysed for suitable results.
- Personal Interview: The team conducts personal interviews with every sample based on the objectives of the research.
- Survey: The team conducts on-field surveys to assess the behaviour of the sample population in accordance with the research objectives.
- Experiments: The team conducts experiments or randomised controlled experiments to assess the results.
Secondary DataSecondary data can be accessed from the following sources:
- Journals: The journals published every year have reliable sources of secondary data which gets verified by a group of scholars and hence, can be used in research.
- Government Databases: The government collects and record data over a period of time which can be used for the analysis. The financial and economic data can be found from the RBI and finance ministries database. One can find years of historical data on the databases many of which are available to the public.
- UN Databases: The United Nations collects primary data from their field works and interventions which are available to the general public for use. Given the reputed name and reliable verification systems, this database can be another good option to take secondary data from
- Databases of Analytical Companies: Analytical companies like Bloomberg, Statista have their own databases and analysis which are open to the users and can be cited as a verifiable source in the research.
Bias
Primary DataThe primary data may contain the personal bias of the person collecting the data. The bias may also be present while selecting the sample.Secondary DataData manipulation might take place while working with the secondary data.
Conclusion
The data might be divided into two types based on the source from which the data is being obtained: primary or the raw data and secondary data. The primary data is collected first-hand by the researchers and the secondary data is the already prepared data sets that are used for further analysis.
