Give the difference between primary and secondary data and its sources.
Solution
| Basis | Primary Data | Secondary Data |
| Meaning | Primary data is the data that is collected for the first time through personal experiences or evidence, particularly for research. It is also described as raw data or first-hand information. | Secondary data is a second-hand data that is already collected and recorded by some researchers for their purpose |
| Time and Cost of Collecting | Method of gathering primary data is costly and saves time consuming. | This method of gathering data is affordable, readily available, and saves cost and time |
| Sources of data | The data is mostly collected through observations, physical testing, mailed questionnaires, surveys, personal interviews, telephonic interviews, case studies, and focus groups, etc. | Secondary data is collected from different sources such as government publications, censuses, internal records of the organisation, books, journal articles, websites and reports, etc. |