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
International trade lowers the cost of products through competitive advantages, but it can lead to harm for communities and nations. Workers in developed nations are sometimes replaced by counterpart in developing nations. Work conditions in developing nations can be exploitative.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 >
Two ways of protecting the privacy of research participants are: confidentiality, which means that the participants' identities are known only to the researcher and remain unknown to the public, and anonymity, which means that the participants' identities remain unknown to both the researchers and the public. The issue of protecting research participants' privacy has attained a greater degree of relevancy as a larger number of research studies are conducted in the areas of psychology, sociology and economics. Because of the increased activity in sensitive behavioral research, a lack of anonymity or confidentiality can lead to participants' embarrassment or stigmatization.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 >