Secondary data refers to data that has already been collected by someone else, while primary data is data that is collected by the researcher themselves. Some pros of secondary data include not having to reinvent the wheel, being cheaper and faster than primary collection. However, secondary data can be outdated, incomplete, inconsistent over time, or not measure exactly what the researcher needs. Primary data allows custom collection but is more expensive and time-consuming. Researchers must evaluate if existing data can answer their question or if primary collection is required.