There are advantages and disadvantages to using both primary and secondary sources of data in business, including the advantage of being able to frame the collection process and the disadvantage of expense. They can get found in other organizations or companies, such as census data, institutional statistics, government studies, organizations and associations, research and data disseminated in periodicals, in books, on the internet or, for example, the same digital data. The type of data in this study is quantitative data and the source of the data used is secondary data. The researcher doesn't have to go through the long and costly processes of obtaining funding, designing and implementing their own survey, or paying for a sampling frame, conducting fieldwork, data preparation and data cleaning. Secondary data is data that has been collected by others and not by yourself this, can be really important and useful information that can be collected however it can be unknown as to how old the data is and also how reliable it is. External secondary data– is data collected by sources external to the company. As opposed to secondary data which is easily accessible but are not pure as they have undergone through many statistical treatment. Using secondary data someone else has collected is often free, but it is sometimes difficult to place it within the context of the research.
The Disadvantages of Secondary Data Analysis. Primary sources of data collection have their advantages (such as addressing specific research problems) and applications in data management and storage. Primary Data VS Secondary Data When it comes to the difference between primary data and secondary data in marketing research, many examples and types of data collection methods can be given. The basic difference between primary and secondary data is that primary data is an original and unique data, which is directly collected by the researcher from a source according to his requirements. Since secondary data is collected by someone else it means the data is collected relatively quickly. In a way content analysis is also the study of Organizations relying on secondary data as an important component in their decision-making (e.g., market research studies) must take extra steps to evaluate the validity and reliability of the information by critically evaluating how the information was gathered, analyzed, and presented.
The biggest disadvantage of performing secondary data analysis is that the secondary data set might not answer the researcher’s specific research question to the degree that the research would have hoped.
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