Tag: different types of data

The estimation of consumer demand by questioning a sample of consumer is referred to as the consumer survey approach. Estimation of consumer demand helps to analyse consumer's behaviour.

After doing the thorough calculation of consumer demand by setting up stimulated stores, providing a sample of consumers with money, and then allowing them to purchase and keep the commodities they select in the stores is called the consumer clinic approach. It is also known as 'Laboratory type' experiment. By this approach, a sample of consumers is given a specific budget and asked to plan out their expenditure.

The entities on which data are collected is known as variables. A data item is also called as a variable. For example, age, sex, income, etc are referred as variables.

For checking how many students scored above  80% marks in class, direct investigation should be conducted to collect the necessary data. Hence, direct investigation should be the source of data. Direct investigation is conducted by collecting the data directly from the students of the respective class.

Organizations that use primary data are both- CSO(Central Statistics Office) and Census of India. Primary data is also known as raw data. It is the first hand information.

Indirect oral investigation method of collection of data is to be used when the source is reluctant to give the information. People who have sufficient knowledge about the issue, are asked questions and data is obtained from their answers.

Collected data should be quantitative. Quantitative data consists of numerical variables. It measures the counts in numerical terms.

Secondary data is the second-hand information since the secondary  data is not collected or gathered by the user. It should be accurate, reliable and suitable. For example, government censs report is a secondary data.

Primary data is also known as raw data. It is the first-hand information. Data collected or gathered by research institutions is primary data. Primary data is collected only for a specificc purpose.

Primary data is also known as raw data. It is the first hand information. It is collected by all of the following- indirect praline view, telephone survey and mailed questions.