What is Primary Data?

Prepare for the CIMA Managing Finance in a Digital World Test. Access flashcards and multiple choice questions with hints and explanations. Be ready for your exam!

Multiple Choice

What is Primary Data?

Explanation:
Primary data is data you collect yourself for a specific study or purpose. It’s gathered directly to answer your particular research questions, often through methods like surveys, experiments, or observations, so you control what is measured and when it’s collected. This makes it timely and highly relevant, but it usually requires more time and cost to obtain. By contrast, data from a system or published statistics are typically secondary data—already collected for other reasons and then reused. Questionnaires are a method to gather primary data, but the data themselves are what matter for the study.

Primary data is data you collect yourself for a specific study or purpose. It’s gathered directly to answer your particular research questions, often through methods like surveys, experiments, or observations, so you control what is measured and when it’s collected. This makes it timely and highly relevant, but it usually requires more time and cost to obtain. By contrast, data from a system or published statistics are typically secondary data—already collected for other reasons and then reused. Questionnaires are a method to gather primary data, but the data themselves are what matter for the study.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy