Primary and Secondary Research

Primary Research

Also known as field research, primary research involves gathering completely new data to provide bespoke insights.
It is often conducted by the business itself or a research agency hired for this purpose.
This type of research includes methods such as surveys, experiments, interviews, and observation.
It provides tailored data to answer the business’s specific questions and may include qualitative or quantitative information.
Primary research can be expensive and time-consuming due to the necessity to create and implement new research methods.
However, it provides detailed, up-to-date, and relevant data which can lead to highly accurate conclusions.

Secondary Research

Known also as desk research, secondary research involves gathering existing data that has been collected and published by other sources.
It can include published reports, articles, databases, industry statistics and more.
Secondary research is often utilised for comparisons and benchmarking, and to understand the broader market and industry context.
This type of research is generally more time and cost-effective to obtain than primary research.
However, the available data may not be completely suited to the business’s needs as it wasn’t collected with their specific questions in mind.
In addition, secondary data may be outdated, biased, or may not be reliable depending on the source.

Comparing Primary and Secondary Research

Primary research offers high specificity and relevance to the business’s needs, while secondary research provides a wider picture of the market and industry.
Primary research is generally more expensive and time-consuming to conduct than secondary research.
However, the benefits of primary research come from the detailed, tailored, and up-to-date data it provides.
Secondary research enables businesses to gain a broad understanding quickly, but the data may not be as reliable or pertinent to their specific needs.

Take note, your research process should include a combination of both primary and secondary research methods to balance their respective strengths and weaknesses. The proportion of each method used will depend on the available resources and the nature of the information required.