What is the difference between Primary and Secondary Data?What is the difference between Primary and Secondary Data?

Primary Data 1. Primary data are always original as it is collected by the investigator.2. Suitability of the primary data will be positive because it has been systematically collected.3. Primary data are expensive and time consuming.4. Extra precautions are not required.5. Primary data are in the shape of raw material.6. Possibility of personal prejudice. Secondary Data 1. Secondary data lacks originality. The investigator makes use of the data collected by otheragencies.2. Secondary data may or may not suit the objects of enquiry.3. Secondary data are relatively cheaper.4. It is used with great care and caution.5. Secondary data are usually in the shape of readymade products.6. Possibility of lesser degree of personal prejudice. Primary Data Needs more funds. Investigating Agency collects the data. Requires longer time for collection. More reliable and suitable to the enquiry because the investigator himself collects it. Requires elaborate organisation. No extra precautions are required Secondary Data Needs comparatively less funds. Some other investigating agency collects it for its own use. Requires less time for collection. Less reliable and suitable as someone else has done that job of collection which may notserve the purpose. No need of any organizational set up. Secondary data need more care and attention another set of ans:

Primary data is data which has been collected by yourself, which is more reliable and up to date. Secondary data has been collected from a secondary source (Other people, business etc.) so it may not be valid or up to date. "Primary" and "secondary" are terms used to define data relative to the purpose by which the data were collected originally. "Primary data" are data collected for the need at hand. "Secondary data" are data that were collected for another reason but is being re-purposed to address the need at hand. When describing the expertise of data analysts, it is not uncommon to distinguish between primary and secondary data analytics. Primary data analytics involves the ability to analyze data for the purpose by which it has been collected. Secondary data analytics involves identifying "secondary data sources" to solve a new problem and then the ability to re-purpose that data. Primary data is a data which is created for the first time and there is no previous source available. Secondary data is a readily available data like data from trade directories,statistics from websites etc. In Dissertation Literature review is done through secondary data which includes the contents such as theories, models, compilation, research findings by some other scholar etc.