Price of data

Marketing research methods have been impacted drastically by technology and the Internet. Market researchers use exclusively or both (primary and secondary data) to solve some of the most complicated questions concerning shoppers behavior. Secondary data is described as information collected before hand to address another issue (Hair, Bush, & Ortinau, 2009). This form of information is often cheaper than primary data simply because the research has already been performed and essentially its used substance. In addition to being cheaper secondary data can be combined with other information to reach a conclusion concerning a specific market (Clow & Baack, 2010). One of the cons to using secondary data is the lack of control for the researcher. In addition to this concern the marketing specialist has to examine the relevance of the information based on time, place, and event. The secondary information is stored in some location and comes from search engines, click streams, and internal store purchase history (Hair, Bush, & Ortinau, 2009). Primary data is more forthcoming being its collected for the purpose of addressing a current problem (Hair, Bush, & Ortinau, 2009). As discussed earlier this form of information usually cost more than secondary data due to its nature. This form of data is collected through a relevant physical effort such as a survey, unlike secondary data that is stored most times in cyberspace (Hair, Bush, & Ortinau, 2009). The relevance and accuracy of primary data gives it a significant value for the competitive business. Reference Clow, K. E., & Baack, D., (2010). Marketing management: A customer oriented approach. California, CA: Sage Publication Inc. Hair, J. F., Bush, R. P., & Ortinau, D. J., (2009). Marketing research: In digital environment (4th ed.). Boston, MA: McGraw- Hill Irwin