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Collection of Data — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsCollection of Data6 Marks
Question
"An investigator should be careful while using secondary data”. Discuss.
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Answer

Secondary data should be used with great care and caution. While using secondary data, the investigator should specifically consider the following factors
  1. Reliability of Data: The first and foremost concern of the investigator should be that whether the secondary data is reliable or not. In order to check the reliability of data, the investigator should enquire about
  1. The reliability, integrity and experience of the #collecting organisation.
  2. The reliability of the source of information.
  3. The methods used for the collection and analysis of the data.
  1. Suitability of Data: After satisfying himself as regards to the reliability of data, the investigator should check whether the data is suitable or not.
  1. For this, it is important that the investigator
  2. Observes and compares the objectives, nature and scope of the given enquiry with the original enquiry.
  3. Confirms that the various terms and units were clearly defined and were also uniform throughout the earlier investigation and these are relevant for the present enquiry also.
  4. Takes into account the difference in time periods for the original enquiry and the investigation in hand.
  1. Adequacy of Data: After satisfying himself about the reliability and suitability of data, the investigator should check whether data is adequate or not. For this, he should check the area of study to which the data relates, and also check the time period which the data covers.

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