What is Data?

Data can be defined as a systematic record of a particular quantity. It is the different values of
that quantity represented together in a set. It is a collection of facts and figures to be used for a
specific purpose such as a survey or analysis. When arranged in an organized form, can be
called information. The source of data (primary data, secondary data) is also an important
factor.

Types of Data
 Qualitative Data: They represent some characteristics or attributes. They depict
descriptions that may be observed but cannot be computed or calculated. For example,
data on attributes such as intelligence, honesty, wisdom, cleanliness, and creativity
collected using the students of your class a sample would be classified as qualitative.
They are more exploratory than conclusive in nature.
 Quantitative Data: These can be measured and not simply observed. They can be
numerically represented and calculations can be performed on them. For example, data
on the number of students playing different sports from your class gives an estimate of
how many of the total students play which sport. This information is numerical and can
be classified as quantitative.

Data Collection
Depending on the source, it can classify as primary data or secondary data.

Primary Data
These are the data that are collected for the first time by an investigator for a specific purpose.
Primary data are ‘pure’ in the sense that no statistical operations have been performed on
them and they are original.

Secondary Data
They are the data that are sourced from someplace that has originally collected it. This means
that this kind of data has already been collected by some researchers or investigators in the
past and is available either in published or unpublished form. This information is impure as
statistical operations may have been performed on them already.
Secondary Data Collection Methods
The secondary data are readily available from the other sources and as such, there are no specific
collection methods. The researcher can obtain data from the sources both internal and external to the
organization. The internal sources of secondary data are:

 Sales Report
 Financial Statements
 Customer details, like name, age, contact details, etc.
 Company information
 Reports and feedback from a dealer, retailer, and distributor
 Management information system
There are several external sources from where the secondary data can be collected. These are:

 Government censuses, like the population census, agriculture census, etc.

 Information from other government departments, like social security, tax records, etc.
 Business journals
 Social Books
 Business magazines
 Libraries
 Internet, where wide knowledge about different areas is easily available.
The secondary data can be both qualitative and quantitative. The qualitative data can be
obtained through newspapers, diaries, interviews, transcripts, etc., while the quantitative data
can be obtained through a survey, financial statements and statistics.

One of the advantages of the secondary data is that it is easily available and hence less time is
required to gather all the relevant information. Also, it is less expensive than the primary data.
But however the data might not be specific to the researcher’s needs and at the same time is
incomplete to reach a conclusion. Also, the authenticity of the research results might be
skeptical.
Some Advantages of using Secondary data:
1. The data’s already there- no hassles of data collection
2. It is less expensive
3. The investigator is not personally responsible for the quality of data (“I didn’t do it”)

Some disadvantages of using Secondary data:

1. The investigator cannot decide what is collected (if specific data about something is
required, for instance).
2. One can only hope that the data is of good quality
3. Obtaining additional data (or even clarification) about something is not possible (most
often)