An advantage is that primary data is information the researcher has collected and worked with personally. It relates directly to that person's research or study. A disadvantage of primary data is that it is expensive to collect the data, and it often takes a long time to process the information.Know More
Depending on the research method, primary data may be numerical or qualitative. It may include a large set of subjects or one smaller in number. In either case, one of the issues with only using primary data is that the researcher has nothing to back it up against if the data is skewed or incorrect. If there is some degree of experimental error, it might be hard to tell if there is nothing to use for comparison.
One of the positive sides of using primary data is that the researcher controls when and how he collects the information. This also means that the researcher is responsible for the data and may be asked questions about its source and reliability later on in the process. Data can be very useful when researchers are doing a small experiment or running a small survey, as it takes less time to analyze the results.Learn more about Business Resources
Competition can promote market growth and lead to better products supplied to the consumer market, but it can also lead to an exhausting workload and immense financial strain for the companies invested in competing, which can cause further problems. The issue is a complex one that encompasses capitalist economics and influences, based on the performance of the marketplace and other market forces.Full Answer >
Privatization is advantageous because it improves efficiency and profitability, prevents political interference and increases competition. According to The Guardian, privatization is disadvantageous because it can create private monopolies and a focus on profits rather than public interest in the delivery of essential services, such as healthcare.Full Answer >
There are advantages and disadvantages to using both primary and secondary sources of data in business, including the advantage of being able to frame the collection process and the disadvantage of expense. Using secondary data someone else has collected is often free, but it is sometimes difficult to place it within the context of the research.Full Answer >
One advantage of graphics presentations is the convenience with which the audience can follow along, while one disadvantage is that data may show a false picture of the situation. Graphics presentations are a popular method to present large quantities of data because almost everyone can understand them. Some people may be unfamiliar with the technical terms used to explain data, but when presented graphically, a clear pattern can be shown.Full Answer >