The document discusses the definitions, advantages, and disadvantages of primary and secondary data in business statistics. Primary data is original, high in accuracy, but time-consuming and expensive to collect, while secondary data is cost-effective and time-saving but may lack accuracy and relevance. Understanding these differences is essential for effective data analysis.

1. ST XAVIER’S COLLEGE OF MANAGEMENT $ TECHNOLOGY
NAAC Accredited with B++ Grade (1st cycle)
Digha-Ashiyana Road, Digha Ghat, Patna - 800011, Bihar
Subject:- Business Statistics
Topic:- Define Primary & Secondary Data
Name :- Aman Raj
Class :- BCP I
Roll No. :- BCP2024035
Department :- Commerce
Under the guidance of :- Mr. Manish
Kumar

2. PRIMARY DATA
AND
SECONDARY DATA
IN STATISTICS
TOPICS TO BE DISCUSSED:-

3. TABLE OF CONTENTS
• DATA
• TYPES OF DATA
• ADVANTAGES
• DISADVANTAGES
• EXAMPLES
• CONCLUSION

4. 1
DATA
Collection of data refers to systematic recording of results either by
counting or by enumeration.
In other words collection of data means to make available the fact
and figures required for the investigation.

5. 2
TYPES OF DATA
• Primary Data
• Secondary Data
THERE ARE TWO TYPES OF DATA :-

6. 3
PRIMARY DATA
The sources from where these data can be collected are known as Primary
Sources.
The data which is collected for the first time by the investigators serve a specific
purpose is called PRIMARY DATA.
They are based on first hand information. In other words such as, data is of
original in nature.

7. 4
ADVANTAGES
DISADVANTAGES
• Time-Consuming :- Collecting primary data can be labor - intensive and
time consuming.
• Expensive :- Primary data collection can be costly, specially for large scale
studies.
• Limited Scope :- Primary data collection may be limited to a specific
geographic area.
• High Accuracy :- Primary data is collected first hand, reducing errors.
• Originality :- Primary data is original and unique.
• Flexiblity :- Primary data can be collected using various methods (e.g., surveys,
experiments and observation).

8. 5
SECONDARY DATA
The data which is originally collected and published by the authorities other
than who require it or the data which obtained from published or unpublished
sources is called SECONDARY DATA.
Such data is already available in some government publications, research study,
journal or newspaper etc.

9. 6
ADVANTAGES
DISADVANTAGES
• Time-Saving :- Secondary data is already collected, saving time and
effort.
• Cost-Effective :- Secondary data is often free available or low - cost.
• Wide Scope :- Secondary data can provide a broader perspective,
coverage larger populations.
• Limited Accuracy :- Secondary data may contain errors , affecting
accuracy.
• Relevance Issue :- Secondary data may not address the specific
research question or objective.
• Outdated Information : - Secondary data may be outdated.

10. 7
EXAMPLES
PRIMARY DATA
SECONDARY DATA
• A researcher conducts a survey among 1000 customers to
gather information about their satisfaction with a new
product.
• A researcher uses data from the national census to study
population trends .

11. 8
CONCLUSION
• Primary data offers high accuracy and relevance but is
time consuming and expensive.
• Secondary data is cost effective and time saving but may
have accuracy issues.
• understanding the differences is crucial for effective data
analysis.

12. References

https://byjus.com/commerce/difference-between-primary-data-
and-secondary-data
/
(Accessed on 29th
November, 2024)
 https://researchguides.ben.edu/c.php?g=282050&p=4036581
(Accessed on 29th
November, 2024)

14. 6
THANK
YOU