Research methodology for secondary data

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Research methodology for secondary data

Short Definition of Primary Research A type of research, wherein the research aims at acquiring new and original data by primary sources, is known as Primary Data. It is a bit difficult to conduct primary research because it requires a lot of time, money, resources and some prior information about the subject.

Research methodology for secondary data

With a view to getting needed information, the researcher has to start from scratch. The research can be performed through interviews, questionnaires, observations, etc. Definition of Secondary Research The research which involves analysis, interpretation and summarization of primary research, is called secondary research.

In finer terms, the research in which data is obtained from readily available sources is secondary. As the data available is already analysed and interpreted, the researcher only needs to figure out the data of his choice, i.

In this type of research, the researcher uses information gathered by government agencies, associations, labour unions media sources and so on. The data assembled is primarily published in newsletters, magazines, pamphlets, newspapers, journals, reports, encyclopaedias etc.

Research methodology for secondary data

Key Differences Between Primary and Secondary Research You can find out the difference between primary and secondary research, in the following points in detail: Research conducted to gather first-hand information, for the current problem is called Primary Research.

Secondary Research is one that involves the use of information obtained originally by primary research. Primary Research is based on raw data, whereas secondary research is based on analysed and interpreted information.

The primary research, the data is collected by the researcher himself or by the person hired by him. As against this, the secondary research, the data collection is performed by someone else.

The primary research process is very involved which deeply explores the topic. Conversely, the secondary research process is fast and easy, which aims at gaining broad understanding about the subject.

How to do your dissertation secondary research in 4 steps | Oxbridge Essays

In primary research, as the researcher conducts the research, the data collected is always specific to the needs of the researcher. As opposed to secondary research, wherein the data lacks particularity, i. Primary research is an expensive process; wherein high cost is involved in the exploration of data and facts from various sources.

Unlike Secondary research, is an economical process wherein the low cost is involved in acquiring pertinent information because the data is already collected by someone else.

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Primary research consumes a lot of time as the research is done from scratch. However, in the case of secondary research, the collection of data is already done, the research takes comparatively less time.

Conclusion Both primary and secondary research have their advantages and disadvantages. While primary data is need-specific and quality is also up to the mark, but it is expensive and consumes more time. Secondary research, on the other hand, is cheap, and the data collection is easy, but it is also possible that the data may be outdated and does not suit your requirements.

So, before choosing any of these two, first examine your requirements, sources, costs, etc.Later, you need to read it one more time to apply the types and methods of secondary research used here with examples.

All You Need to Know about the Role of Primary and Secondary Research?

Content: Primary Research Vs Secondary Research

This is definitely not the first time that we, at FinanceWalk, cover primary and secondary research for equity. We have defined secondary data, outlined its advantages and disadvantages, introduced the methods and purposes of secondary research, and outlined the types and sources of secondary data.

At this point, you should have a clearer understanding of secondary research in general terms. We have defined secondary data, outlined its advantages and disadvantages, introduced the methods and purposes of secondary research, and outlined the types and sources of secondary data.

At this point, you should have a clearer understanding of secondary research in general terms. Secondary Data Collection Methods Definition: When the data are collected by someone else for a purpose other than the researcher’s current project and has already undergone the statistical analysis is called as Secondary Data.

Methods of Descriptive Research• Secondary data• Surveys• Panels• Observational and other data• Internet Descriptive Research: Strengths and Weaknesses• Strengths – Ability to provide an accurate description – Can be a basis for decision making• Weaknesses – Causal links not established – Can be more expensive and time.

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How to do your dissertation secondary research in 4 steps | Oxbridge Essays