Question

what are some of the advantages and disadvantages of secondary data compared to primary data ? provide at least three of eacg

Answer 1

Advantages of Secondary data:

1. It is economical. It saves efforts and expenses.

2. It is time saving.

3. It helps to make primary data collection more specific since with the help of secondary data, we are able to make out what are the gaps and deficiencies and what additional information needs to be collected.

4. It helps to improve the understanding of the problem.

5. It provides a basis for comparison for the data that is collected by the researcher.

...

Disadvantages of Secondary Data:

1) Secondary data is something that seldom fits in the framework of the marketing research factors. Reasons for its non-fitting are:-

A) Unit of secondary data collection-Suppose you want information on disposable income, but the data is available on gross income. The information may not be same as we require.

B) Class Boundaries may be different when units are same.

2) Accuracy of secondary data is not known.

3) Data may be outdated.