Advantages of secondary data, Management Theories

Advantages of Secondary Data:

1. Economy: Such data are cheaper. The amount of money spent in acquiring secondary data is generally a great deal less than needed to obtain primary data. The various secondary data from libraries can be obtained at no cost.

2. Quickens: Most of these data are instant since they already exist and merely need to be discovered . thus the time in collecting secondary data is largely search time and usually required few hours or days.

3. Quality: An individual investigator cannot match the quality or size of the firms that obtained much of the existing secondary data. The information is gathered by trained personnel specialized in data collection. Also many organizations may not release their data to individual researcher but may give it to firms.

4. No Need of Measuring Instruments: When information is to be gathered from secondary sources there is no problem to design information gathering instrument as information is already collected by someone else. The only problem here is to locate the appropriate sources and methods of recording desired information.

5. Availability: These are sometimes available even in those case where primary investigations are not possible.

Posted Date: 2/11/2013 11:56:58 PM | Location : United States

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