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What are (i) primary data? (ii) secondary data? Which of the two – the primary or the secondary data – is more reliable and why?
The data collected can be classified as primary data or secondary data.
(i) Primary Data - The data collected by the person for a definite purpose is known as primary data. For example, the data collected by an ice-cream seller, to know which ice-cream flavour is popular, by counting the number of times he sold an ice-cream flavour, on a daily basis.
(ii) Secondary Data - The data collected from a source, which already had that information, is known as secondary data. For example, the data collected by an ice-cream seller, to know which ice-cream flavour is popular, by searching "Top 10 preferred ice-cream flavours" on the internet.
Primary data are reliable and relevant because they are original in character and are collected by some individuals or by some institutions or by research bodies.
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