Even Though Primary Data Can Be Especially Valuable to an Individual

question 103

Multiple Choice

Even though primary data can be especially valuable to an individual firm,secondary data is often used because

• A)secondary data are much more up-to-date and tailored to a specific firm or industry.
• B)secondary data,although far more expensive,are also much more reliable.
• C)primary data are usually more costly and time consuming to collect.
• D)primary data can be accessed by virtually anyone so the information generated loses much of its value.
• E)primary data are less fact and figure based;they are more subjective and therefore more vulnerable to misinterpretation.

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Definitions:

Technical Expertise

Specialized knowledge or skills in a specific field or area of technology, acquired through education, training, or professional experience.

Line Managers

Supervisors or managers who are directly responsible for overseeing the day-to-day work of other employees.

Planning

The process of making plans for something, including setting goals and determining the steps and resources needed to achieve those goals.

Top Managerial Positions

Refers to the highest-ranking roles within an organization, responsible for strategic decisions and overall direction.