Data collection
is a systematic method of collecting and measuring data gathered
from different sources of information in order to provide answers to relevant
questions. An accurate evaluation of collected data can help researchers predict
future phenomenon and trends.
Types of Data Collection
Before broaching the subject of the various types of data collection. It is
pertinent to note that data collection in itself falls under two broad categories;
Primary data collection and secondary data collection.
A.
Primary Data Collection
It is a process of collecting the original data collected by a researcher for a
specific research purpose. It could be further analyzed into two segments;
qualitative research and quantitative data collection methods.
Qualitative Research Method
It is based on the non-quantifiable elements like the feeling or emotion of the
researcher. An example of such a method is an open-ended questionnaire.
Surveys
Surveys are used to collect data from the target audience and gather insights
into their preferences, opinions, choices, and feedback related to their products
and services.
Polls
Polls comprise of one single or multiple choice question. When it is required to
have a quick pulse of the audience’s sentiments, you can go for polls.
Interviews
In face-to-face interviews, the interviewer asks a series of questions to the
interviewee in person and notes down responses, interviewer can go for a
telephonic interview.
Delphi Technique
In this method, market experts are provided with the estimates and assumptions
of forecasts made by other experts in the industry. Experts may reconsider and
revise their estimates and assumptions based on the information provided by
other experts.
Focus Groups
In a focus group, a small group of people, around 8-10 members, discuss the
common areas of the problem. Each individual provides his insights on the issue
concerned. A moderator regulates the discussion among the group members.
Questionnaire
The respondents are required to answer printed set of questions based on their
knowledge and experience with the issue concerned. The questionnaire is a part
of the survey, whereas the questionnaire’s end-goal may or may not be a survey.
Quantitative Method
Quantitative methods are presented in numbers and require a mathematical
calculation to deduce. Also, methods of correlation and regression, mean, mode
and median.
Time Series Analysis
The term time series refers to a sequential order of values of a variable, known
as a trend, at equal time intervals. Using patterns, an organization can predict
the demand for its products and services for the projected time.
Smoothing Techniques
They eliminate a random variation from the historical demand. It helps in
identifying patterns and demand levels to estimate future demand by forecasting
techniques are the simple moving average method and the weighted moving
average method.
Barometric Method
Also known as the leading indicators approach, researchers use this method to
speculate future trends based on current developments. When the past events are
considered to predict future events, they act as leading indicators.
B.
Secondary Data Collection
Secondary data collection, on the other hand, is referred to as the gathering of
second-hand data collected by an individual who is not the original user. It is
the process of collecting data that is already existing, be it already published
books, journals and/or online portals. In terms of ease, it is much less expensive
and easier to collect.
Internal sources of secondary data:
Organization’s health and safety records
Mission and vision statements
Financial Statements
Magazines
Sales Report
CRM Software
Executive summaries
External sources of secondary data:
Government reports
Press releases
Business journals
Libraries
Internet
The secondary data collection methods, too, can involve both quantitative and
qualitative techniques. Secondary data is easily available and hence, less time-
consuming and expensive as compared to the primary data. However, with the
secondary data collection methods, the authenticity of the data gathered cannot
be verified.
