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In: Economics

1 Distinguish between the following and identify the research use of each. a primary and secondary...

1 Distinguish between the following and identify the research use of each. a primary and secondary data b finding and insight c census and sample d management dilemma and research question e finding and insight.  

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  1. Primary data as the name suggests is original data collected first hand through surveys,interviews,focus groups,its source is the subject itself while secondary data is collected second hand through articles,some other primary data published somewhere etc.Coming to research use of each,primary data provides first hand analysis be it in terms of problem or solution while secondary data is useful when a research requires data to backup a claim and provide stastical view point.
  2. Finding and insight-Finding is an information which is discovered while going through research ,it is like if you are researching on football team and you found that most of the teams who had won premier league have had league's top scorer while insight is derived on the basis of your understanding of research and is subjective like winners of premier league who had a top scorer deliberately played their main attacking player upfront to get more and more goals.Use of finding is that it gives you factual information which can be extremely useful in critical cases while insight gives you a way to understand and derive important points from research.
  3. Census is collecting data about whole population while sample is just a small part of population data collected for extrapolation and find reasonable meanings.Census 's use in research is for quoting and backing up a point made in research while sample is used to back up a claim with extrapolated data points.
  4. Management dilemma is a problem or question where answer have to be found by management,it is subjective and could involve bias while research question is a focussed problem where stastical tools are used to find the solution,management dilemma 's use in research is more in case studies where such cases serve as a learning gor researchers while research question is used as a reason for why research is done in first place,what is to be found out of that research.
  5. Finding and insight-Finding is an information which is discovered while going through research ,it is like if you are researching on football team and you found that most of the teams who had won premier league have had league's top scorer while insight is derived on the basis of your understanding of research and is subjective like winners of premier league who had a top scorer deliberately played their main attacking player upfront to get more and more goals.Use of finding is that it gives you factual information which can be extremely useful in critical cases while insight gives you a way to understand and derive important points from research.

Answer is complete.Thank you!


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