Research

Difference in Secondary data and primary Data

secondary data is any data whch have been collected earlier for some other purpose but can be used for current research requirements.

Primary data is data which is gathered a fresh specifically for a current research problem. Primary data is specific to the problem whereas secondary data can be used but not specific for the research problem.

2) Secondary data is easily available and is economical as secondary dat is either available within in the organisation in the form of various reports or as data of researches done earlier.
Secondary data is also available from out side organisations from various sources of Governmental gazettes and statistical reports
primary data is expensive as it require thorough planning and more time and energy is required to collect and analyse the data.

3) Secondary data is good for explorative research I.e for better understanding of the topic, to define the problem or hypothesis etc where as primary data which is specifically collected is suitable for quantitative or conclusive or causal research.

4) Secondary data is almost available to all even to the competitors as well hence can't give any competitive advantage, primary data is available only to the company hence can be used as competitive advantages.

5) Secondary data is collected at an earlier time hence sometimes it becomes irrelevant as it loses its timeliness. or become outdated for the purpose. Primary data is collected a fresh hence give current picture and is more relevant.

6) Reliablity of secondary data and its accuracy lies with the originator hence researcher has to rely on the originator or verify it on its own, where as primary data is collected by the researcher himself hence reliablity and accuracy level required can be defined by himself only