Advantages of using primary and secondary datas
One of the main benefits of using secondary data is to save time (Erevelles Fukawa and Swayne 2016, p.902). We now live in the internet era which has simplified secondary data collection making it easy for individuals to access precise information from search engines and digitized library collections. The time and cost used to collect secondary data is less compared to primary data.
Secondary data is easy to access since any individual who needs information about something can visit libraries, digital libraries and any other places which offer secondary information.
When using secondary data, it is possible for the researcher to use random sampling in large sampling sizes which is not possible when collecting primary data. In most cases, the organizations or individuals who collect thus data use large samples which can later be used by others in their research which makes it easier for other researchers who have an interest in the same.
Secondary data can be used to do longitudinal analysis where research with longer spans can be conducted (Rand and Poston Quantum Corp 2010). A researcher can also be able to determine a trend using secondary data. Therefore, this makes it possible for researchers to compare their studies with any longitudinal research that has been conducted in a particular research area.
Advantages of using primary data
Primary data is collected in real time and therefore, it provides up-to-date information (Clark 2013, p.57). Moreover, the information collected from primary data is owned by the researcher and has not been shared with others in the past. Therefore, for instance, a business researcher who uses primary data has confidential information which is hidden from potential competitors. Secondary data is derived from other researchers and therefore, it is not first-hand information or recent.
A marketer can easily control the research design as well as the method used in the design when using primary data. Moreover, when using primary data, the researcher has a higher level of control as to how information is collected. With the researcher being involved during data collection, this means that there is better accuracy for the information taken considering that the data is taken directly from a given population (Goodwin 2012).
Primary data resolves specific issues in research. Using primary data allows the researcher to address any issues on the specific project under research. This is due to the fact that the collected information is the exact data which the researcher needs and therefore, the report has to give solutions to the specific issues. Unlike secondary data which provides information for the mass market, researchers and marketers use primary data to find specific information for their market.