BUISENESS MANAGEMENT
MARKET RESEARCH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Secondary data has two important advantages over primary data. It is:
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capable ofcompensating for rapid environmental changes and technical improvements.
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alwaysavailable and complete.
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seldomobsolete and usually fits the dimensions of your problem.
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generallycheaper to gather than primary data and takes less time to find.
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Explanation:
Detailed explanation-1: -Collecting secondary data is less time-consuming and more economical. It is less susceptible to bias. Since the data was originally collected for a different purpose, it is not original or unique, and may need adjustment to suit the objective of the collection.
Detailed explanation-2: -Advantages of Secondary data It saves efforts and expenses. It is time saving. It helps to make primary data collection more specific since with the help of secondary data, we are able to make out what are the gaps and deficiencies and what additional information needs to be collected.
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