Tutorial 2 Flashcards
Primary data
Primary data does not yet exist and must be collected by the researcher or third parties
Ads of primary data
Optimal adaption of the data to the project goals
Greater control over data quality
Exclusiveness of the most data
Dis of primary data
Many time more cost intensive
Uncertainty with regard to the response rate
Secondary data
Data already exists within the company or is collected by third parties at specific intervals and are in standardised form
Ads of secondary data
Lower costs
Can be in the background / indication for primary research
Some info can be obtained only from secondary data
Dis of secondary data
Doesn’t fit with research goals
No control over the data quality
May not be very accurate
Data can be outdated