“Data used in statistical study is termed as either “Primary” or “Secondary” depending upon whether it was collected specifically for the study in question or for some other purpose.” Explain both the sources of collecting the data in brief

Certainly! Here’s an overview of both primary and secondary sources of data collection:

1. Primary Data:

• Primary data refers to the original data collected by researchers specifically for the purpose of their study or investigation.
• This type of data is firsthand and directly obtained from the source.
• Methods of collecting primary data include surveys, interviews, experiments, observations, and questionnaires.
• Primary data collection allows researchers to gather information tailored to their research objectives, ensuring relevance and accuracy.
• Examples of primary data include responses to survey questions, recorded observations, experimental results, and interview transcripts.
• Advantages of primary data include its freshness, relevance, and specificity to the research question. However, it can be time-consuming and costly to collect.

1. Secondary Data:

• Secondary data refers to data that has already been collected by someone else for a different purpose than the current study.
• This type of data is readily available and can be obtained from sources such as books, journals, government publications, databases, and online repositories.
• Methods of collecting secondary data include literature reviews, archival research, and accessing existing databases.
• Secondary data collection is typically less time-consuming and less expensive compared to primary data collection.
• Examples of secondary data include census data, academic research papers, market reports, historical records, and financial statements.
• Advantages of secondary data include its accessibility, cost-effectiveness, and ability to provide historical context or comparative analysis. However, it may lack specificity or relevance to the current research question, and its quality and reliability can vary.

In summary, primary data is collected firsthand by researchers for their specific study, while secondary data is obtained from existing sources that were collected for other purposes. Both types of data have their advantages and limitations, and researchers often use a combination of both to complement and validate their findings.