Academic Advice Recent
The Role of Primary and Secondary Data in Modern Research
Data is the lifeblood of research, but not all data is created equal. Depending on your topic, you will need to choose between Primary data (which you collect yourself) and Secondary data (which someone else has already collected).
### Primary Data: The "Fresh" Source
Primary data is collected specifically for your research. Whether it’s through questionnaires, experiments, or interviews, you have full control over the process. The advantage? It is current and perfectly tailored to your needs. The disadvantage? It is expensive and time-consuming. In a fast-moving field like Fintech, primary data is often the only way to get an accurate picture of the present.
### Secondary Data: The "Historic" Source
Secondary data includes government reports, company financial statements, and previous journals. It is fantastic for longitudinal studies—where you want to see how things have changed over 10 or 20 years. However, you must be careful with the "Credibility" of the source. Using data from a random blog is a mistake; stick to reputable databases like the CBN, NBS, or Google Scholar.
### Finding the Balance
The best projects often use secondary data to build the "Background" and primary data to solve the "Current Problem." At uniSupport, we have access to vast academic databases and field agents across the country to help you secure the highest quality data for your project, regardless of the source.
### Primary Data: The "Fresh" Source
Primary data is collected specifically for your research. Whether it’s through questionnaires, experiments, or interviews, you have full control over the process. The advantage? It is current and perfectly tailored to your needs. The disadvantage? It is expensive and time-consuming. In a fast-moving field like Fintech, primary data is often the only way to get an accurate picture of the present.
### Secondary Data: The "Historic" Source
Secondary data includes government reports, company financial statements, and previous journals. It is fantastic for longitudinal studies—where you want to see how things have changed over 10 or 20 years. However, you must be careful with the "Credibility" of the source. Using data from a random blog is a mistake; stick to reputable databases like the CBN, NBS, or Google Scholar.
### Finding the Balance
The best projects often use secondary data to build the "Background" and primary data to solve the "Current Problem." At uniSupport, we have access to vast academic databases and field agents across the country to help you secure the highest quality data for your project, regardless of the source.