Page 113 - DMGT209_QUANTITATIVE_TECHNIQUES_II

Quantitative Techniques-II

Notes To determine the potential market for a new product, for example, the researcher might study
500 consumers in a certain geographical area. It must be ascertained that the group contains
people representing variables such as income level, race, education and neighborhood.

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Caution The quality of data will greatly affect the conclusions and hence, utmost importance
must be given to this process and every possible precaution should be taken to ensure
accuracy, while gathering and collecting data.
Depending upon the sources utilized, whether the data has come from actual observations or
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from records that are kept for normal purposes, statistical data can be classified into two categories
Primary and secondary.
7.1 Primary Data and Secondary Data

Data is one of the most important and vital aspect of any research studies. Researchers conducted
in different fields of study can be different in methodology but every research is based on data
which is analyzed and interpreted to get information. Data can be numbers, images, words,
figures, facts or ideas. Data in itself cannot be understood and to get information from the data
one must interpret it into meaningful information. There are various methods of interpreting
data. Data sources are broadly classified into primary and secondary data. Let us discuss both of
them:

7.1.1 Primary Data

The data directly collected by the researcher, with respect to the problem under study, is known
as primary data. Primary data is also the firsthand data collected by the researcher for the
immediate purpose of the study. Primary data is one which is collected by the investigator
himself for the purpose of a specific inquiry or study. Such data is original in character and is
generated by surveys conducted by individuals or research institutions.

Importance of Primary Data

Importance of Primary data cannot be neglected. A research can be conducted without secondary
data but a research based on only secondary data is least reliable and may have biases because
secondary data has already been manipulated by human beings. In statistical surveys it is
necessary to get information from primary sources and work on primary data: for example, the
statistical records of female population in a country cannot be based on newspaper, magazine
and other printed sources. One such source is old and secondly they contain limited information
as well as they can be misleading and biased.
1. Validity: Validity is one of the major concerns in a research. Validity is the quality of a
research that makes it trustworthy and scientific. Validity is the use of scientific methods
in research to make it logical and acceptable. Using primary data in research can improves
the validity of research. First hand information obtained from a sample that is
representative of the target population will yield data that will be valid for the entire
target population.
2. Authenticity: Authenticity is the genuineness of the research. Authenticity can be at stake
if the researcher invests personal biases or uses misleading information in the research.
Primary research tools and data can become more authentic if the methods chosen to
analyze and interpret data are valid and reasonably suitable for the data type. Primary
sources are more authentic because the facts have not been overdone. Primary source can

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