BUSINESS RESEARCH

Business Research Data

Table of Content

Introduction1

Business Research1

Discussion2

Data Collection in Business Research2

Types of Data2

Primary Data Research3

Importance of Primary Data3

Sources of Primary Data4

Secondary Data Research6

Importance of Secondary Data6

Sources of Secondary Data7

Differences between Primary Data and Secondary Data9

Limitations of Secondary Data10

Limitations of Primary Data11

Appropriate Cases for Using Primary and Secondary Data in Business Management Research12

Primary Data for Conducting Market Research12

Secondary Data for Market Research or Company Research14

Primary as well Secondary Data Usage in Business Research15

Conclusion16

References18

Business Research Methods

Introduction

Business Research

Research is systematic course that involves explaining, designing, performing and illustrating a study of a research problem (Warhurst, 2012, p.12). The purpose of business research is to define, illustrate, predict, or develop a norm. It is the process which helps in enquiring and investigating for addressing a particular issue, and is organized in a manner that delivers consistent, rational, and thorough research about the given topic (Warhurst, 2012, p.12). Thus, research is systematic and methodical way of collecting and analyzing data. The key long-term benefits associated with research includes enhancing the understanding of a critical issue that is under exploration, improving competency in performing research and completing research projects, enhanced the ability of managing research as a systematic process, enables a person to develop on other people's researches while increasing their own work's credibility, and helps in discovering new concepts; ideas; visions (Warhurst, 2012, p.13). Hence, research holds immense importance in every field. Where, business research is related to a specific form of management of a particular type of firm concerned with trading of goods and services in different markets (Warhurst, 2012, p.15). The most important aspect in research is data collection because one's research is totally based on these data sources. The typical information sources include three types: Primary, Secondary, and Tertiary. Where, Primary data sources includes reports, emails, theses, company reports, government publications, conference proceedings, and unpublished manuscript sources; secondary data sources includes journals, newspapers, books, and some government publications; finally, the tertiary data collection sources involves indexes, catalogues, databases, encyclopedias, bibliographies, dictionaries, and citation indexes (Warhurst, 2012, p.28). This report covers the detail analysis of primary and secondary data collection sources in business research.

Discussion

Data Collection in Business Research

The data gathered and used in business researches can be defined as qualitative and quantitative values of variables. Data is gathered to get information which can be used for measurement or analysis, where, interpretation of data must be meaningful. One of the most important and essential aspect of any research is data (Ahmad, 2010, n.d). The researches conducted can differ in field of studies and in methodologies, but every research is based on data that is explored and interpreted to gather required information. Hence, the data gathered during research holds an immense importance. The sources of data are broadly classified into two categories: primary data and secondary data (Ahmad, 2010, n.d).

Types of Data

The two broad categories of collecting data for research are primary data and secondary data sources.

Primary Data Research

Primary data refers to the information gathered from first-hand experience, which ...