Principle Difference between Primary and Secondary Data

  • Difference in Objective: The primary data collected by the investigator is always for the specific objective. Therefore, there is no need to make any adjustments for the purpose of the study. However, the secondary data collected by the investigator has already been collected by someone else for some other purpose. Therefore, the investigator has to make necessary adjustments to the data to suit the main objective of the present study.
  • Difference in Originality: As the primary data is collected from the beginning from the source of origin, the data is original. However, the secondary data is already present somewhere and hence is not original.
  • Difference in Cost of Collection: The cost of collecting primary data is higher than the cost of collecting secondary data in terms of time, effort and money. It is because the data is being collected for the first time from the source of origin. However, the cost of collecting secondary data is less as the data is gathered from published or unpublished sources.

Sources of Data Collection | Primary and Secondary Sources

Data Collection refers to the systematic process of gathering, measuring, and analyzing information from various sources to get a complete and accurate picture of an area of interest. Different sources of data collection include Primary Sources and Secondary Sources.

Similar Reads

What is Data?

Data is a collection of measurements and facts and a tool that helps an individual or a group of individuals reach a sound conclusion by providing them with some information. It helps the analyst understand, analyze, and interpret different socio-economic problems like unemployment, poverty, inflation, etc. Besides understanding the issues, it also helps in determining the reasons behind the problem to find possible solutions for them. Data not only includes theoretical information but some numerical facts too that can support the information. The collection of data is the first step of the statistical investigation and can be gathered through two different sources, namely, primary sources and secondary sources....

Sources of Collection of Data

1. Primary Source...

Primary and Secondary Data

1. Primary Data...

Principle Difference between Primary and Secondary Data

Difference in Objective: The primary data collected by the investigator is always for the specific objective. Therefore, there is no need to make any adjustments for the purpose of the study. However, the secondary data collected by the investigator has already been collected by someone else for some other purpose. Therefore, the investigator has to make necessary adjustments to the data to suit the main objective of the present study. Difference in Originality: As the primary data is collected from the beginning from the source of origin, the data is original. However, the secondary data is already present somewhere and hence is not original. Difference in Cost of Collection: The cost of collecting primary data is higher than the cost of collecting secondary data in terms of time, effort and money. It is because the data is being collected for the first time from the source of origin. However, the cost of collecting secondary data is less as the data is gathered from published or unpublished sources....

Methods of Collecting Primary Data

...

Sources of Collecting Secondary Data

1. Published Sources...

Sources of Data Collection – FAQs

What are the main sources of data collection in economics?...

Contact Us