Page 117 - DMGT209_QUANTITATIVE_TECHNIQUES_II

Quantitative Techniques-II

Notes
Example: Data available with respect to age group is as follows:
<18 year
18-24 years

25-34 years
35-44 years

Suppose the company needs a classification less than 20, 20-30 and 30-40, the above
classification of secondary data cannot be used.

 Problem of Accuracy: The accuracy of secondary data available is highly questionable. A
number of errors are possible in the collection and analysis of the data. Accuracy of
secondary data depends upon:

(a) Who has collected the data: The reliability of the source determines the accuracy of
the data. Assume that a publisher of a private periodical conducts a survey of his
readers. The main aim of the survey is to find out the opinion of readers about
advertisements appearing in it. This survey is done by the publisher in the hope that
other firms will buy this data before inserting advertisements.

Assume that a professional M.R agency has conducted a similar survey and has sold
its syndicated data on many periodicals.

If you are an individual who wants information on a particular periodical you buy
the data from M.R agency rather from the periodical’s publisher. The reason for this
is trust of the M.R agency. The reasons for trusting the M.R agency are as follows:
1. Being an independent agency there is no bias. The M.R agency is likely to
provide an unbiased data.
2. The data quality of MR agency will be good since they are professionals.
(b) How the data collected ?

1. What instruments were used?
2. What type of sampling was done?

3. How large was the sample?
4. What was the time period of data collection? For example, days of the week,
time of the day.

 Recency: This pertains to “how old was the information?” If it is five years old, it may be
useless. Therefore, the publication lag is a problem.

Methods for Secondary Data Collection

The sources of unpublished data are many; they may be found in diaries, letters, unpublished
biographies and autobiographies and may also be available with scholars and research workers,
trade associations, labour bureaus and other public/private individuals and organizations.
Before using secondary data, the researcher must ensure the reliability, suitability and adequacy
of data.

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