- Business Analytics - Home
- Business Analytics Basics
- Business Analytics - What It Is?
- Business Analytics - History and Evolution
- Business Analytics - Key Concepts and Terminologies
- Business Analytics - Types of Data
- Business Analytics - Data Collection Methods
- Different Tools used for Data Cleaning
- Business Analytics - Data Cleaning Process
- Different Sources of Data for Data Analysis
- Business Analytics - Data Cleaning
- Business Analytics - Data Quality
- Descriptive Analytics
- Descriptive Analytics - Introduction
- How Does Descriptive Analytics Work?
- Descriptive Analytics - Challenges and Future in Data Analysis
- Descriptive Analytics Process
- Descriptive Analytics - Advantages and Disadvantages
- Descriptive Analytics - Applications
- Descriptive Analytics - Tools
- Descriptive Analytics - Data Visualization
- Descriptive Analytics - Importance of Data Visualization
- Descriptive Analytics - Data Visualization Techniques
- Descriptive Analytics - Data Visualization Tools
- Predictive Analytics
- Predictive Analytics - Introduction
- Statistical Methods & Machine Learning Techniques
- Prescriptive Analytics
- Prescriptive Analytics - Introduction
- Prescriptive Analytics - Optimization Techniques
Business Analytics - Data Collection Methods
What is Data?
Data is a collection of facts and figures, symbols, and objects. Data is collected from different data sources by an individual or organisation. For example it can be collected from the internal department of the company like the production department, HR department, Sales and Marketing department and outside the company's boundaries like stakeholders, customers, internet, social media, newspapers, magazines etc.
Data can be considered the heart and soul of the organisation because after data processing users can find insights to make fruitful decisions which helps organisations to grow and frame business strategies accordingly.
What is Data Collection?
Data collection is collecting data from different sources and storing it at a central place to process and find desired results. Data collection is an essential phase in gathering data to do research, data analysis, and data exploration to find business insights or data insights. Some of the common examples of data analysis are social sciences, business, and healthcare.
Data is one of the most crucial elements for organisations because its processed results are used in decision-making and framing business strategies so correct and accurate data plays a vital role in the entire data analysis or data-related process. So, accurate data collection is necessary to make informed business decisions, ensure quality assurance, and keep research integrity.
During data collection, subject experts must focus on data types, sources, and methodologies. The data collection is most widely used in research, business, healthcare and government sectors.
Before collecting data, you should keep in mind the following points −
- What is the aim or purpose of gathering or collecting data?
- What type of data are you planning to collect?
- Value of data
- The data which you are collecting is relevant?
- The data source from where you are collecting data is authentic?
- Does the data source have the same type of data which you looking for?
During data collection, you can identify suitable methods and processes to collect, store, and process the data. Collected data can be classified into qualitative and quantitative categories. Qualitative data comprises descriptions like colour, size, quality, and appearance of a product for product-related data. While quantitative data comprises numerical data, statistics, and percentages.
What are Data Collection Methods?
Data collection methods are approaches for gathering data for the specified objectives. They might vary from simple self-reported surveys to more elaborate quantitative or qualitative data.
Different Methods of Data Collection
Primary and secondary data collection methods are two approaches to gathering information for study or analysis.
1. Primary Data Collection
The primary data collection method collects responses or data directly from users. After collecting data; it may processed by computer systems to remove noises and organise it to analyze it. Primary data collection is critical in research because it enables specific data collection, relevant, and up-to-date information that directly addresses the research question or objective.
Methods of Collecting Primary Data
Some of the most commonly used primary data collection methods are as follows −
- Surveys and Questionnaires − This is one of the primary methods to collect data using structured questionnaires or surveys from individuals or groups. This method also includes face-to-face interviews and telephone calls.
- Interviews − It is a method which includes direct interaction between the researcher and the respondent. They can be done in person, over the phone, or via video conferencing. It can be structured, semi-structured, or unstructured.
- Observations − This method observes and records behaviours in the natural environment. This method is useful for acquiring information about human behaviour, interactions, and occurrences without requiring direct intervention.
- Experiments − This method includes variable manipulation and observes their impact on the outcome.
- Focus Groups − This method involves data gathering using a small group of people to discuss a particular topic and record the outcomes.
- Case Studies − It is a method to study a single case or multiple cases to find feasible solutions.
- Field Studies − It is a method of testing a product or process in the real world.
2. Secondary Data Collection
Secondary data collection is a method of collecting data from different resources where data or information already exists. This data collection method is very popular and most widely used in research. This is important where data analysis or research is needed concerning time. For example marketing trend changes over time; so, if anyone is doing research in this reference, they need to collect secondary data on marketing trends during previous years and then do research and comparison with current marketing trends.
This type of data is commonly employed when primary data collection is unfeasible, time-consuming, or unneeded. It can be useful for gathering background information, enriching primary data, or doing data analysis when primary data is unavailable.
Methods of Collecting Secondary Data
Some of the primary sources of collecting secondary data are as follows −
- Published Research / Existing research − This includes research articles published in academic journals, conferences, magazines, books, newspapers, and other published materials that contain relevant data. Research studies and their findings can be useful as secondary data sources. Researchers can evaluate and analyse the data to gain new insights or expand existing information with new insights.
- Data sources on the internet − It includes information available on the internet. It is considered as secondary data.
- Online Databases − Online databases that provide access to research articles, statistical information, economic data, and social surveys.
- Government and Institutional Reports − From time to time, the Government processes its data and releases reports like reports on Census data, economic reports, and health statistics which can be further utilised as a secondary source of data to do research. These institutions maintain databases or records that can be used for research purposes.
- Industry Reports − These include market research reports, industry trends, and current and future industrial trends.
- Social Media Data or Publicly Available Data − Data available on social media sites can also considered secondary data. Like sentiments data is most widely used in doing NLP and machine learning research. Data shared by individuals, organizations, or communities on public platforms, websites, or social media can be accessed and utilized for research.
FAQs on Data Collection Methods
1. What is Data Collection?
Data collection is a process of collecting data from different sources to do research or explore it for different purposes. It helps to find business insights or data insights. Some of the common examples of data analysis are social sciences, business, and healthcare.
What are the common types of Data Collection?
There are two types of data collection −
- Primary data collection
- Secondary data collection
2. Name some popular data collection methods
Some common methods of data collection are as follows −
- In-Person Surveys − The researcher asks questions in person like Online/Web Surveys
- Role-Playing − Respondents are presented with an imaginary situation and asked how they would act or react if it was real.
- Mobile Surveys − Surveys rely on mobile devices like tablets or smartphones to conduct surveys using SMS or mobile apps.
- Interviews − It is a method which includes direct interaction between the researcher and the respondent.
- Observations − It observes and records behaviours in the natural environment.
- Experiments − This method includes variable manipulation and observes their impact on the outcome.
- Focus Groups − Includes data gathering using a small group of people to discuss on a particular topic and record the outcomes.
- Case Studies − It is a method to study a single case or multiple cases to find feasible solutions.
- Field Surveys − It is a method of testing a product or process in the real world.
3. What are the advantages of secondary data collection?
It is a cost-effective method as compared to primary data collection. It saves time as it quickly accesses and analyses new data.
4. What are the common Use Cases of Secondary Data?
Secondary data is most widely used for Literature Reviews, Market Analysis, Historical Research and Support for Primary Research.