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RESEARCH METHODOLOGY

RESEARCH METHODOLOGY. (Business Research Methods). Week 5. Secondary Data. Secondary (or historical) data is data which has been acquired through a research or any other effort in the past and for another purpose

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RESEARCH METHODOLOGY

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  1. RESEARCH METHODOLOGY (Business Research Methods) Week 5 MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan

  2. Secondary Data Secondary (or historical) data is data which has been acquired through a research or any other effort in the past and for another purpose Depending on the secondary data needed, there may be numerous sources for acquiring this secondary data MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan

  3. Advantages of Secondary Data • Pool of already existing data • Cost-effective vis-à-vis primary data • Quick availability • No need for designing and undertaking a research study • Collecting primary data may not be feasible (privacy issues) • Many different sources are available MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan

  4. Disadvantages of Secondary Data • Relevance for researcher • Does data apply to target population? • Time-frame consistent with researchers requirement? (outdatedness) • Variation in terms of definition of terms • Different units of measurement (data conversion) • Verification of data’s accuracy (inherent biases due to vested interests) • Reputation of the data-collecting organization and research design used may not be good MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan

  5. Evaluating Secondary Data Do the data help answer questions set out in the problem definition? No! Yes Do the data apply to the time period of interest? Can data be re- worked? No! Yes Do the data apply to the population of interest? No! Applicability to Current Project If yes, continue Yes No! Do other terms and variable classifications presented apply to the project? Yes Are the units of measurement compatible? No! (Next Slide!) MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan

  6. Evaluating Secondary Data Are the units of measurement compatible? Yes If possible, go to the original data source Yes Is the cost of data acquisition worth it? No! Yes Is there a possibility of bias? Yes! Is using data worth the risk? No No! Can accuracy of data collection be verified? No Inaccurate or unsure) Yes Yes (accurate) No Use Data MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan

  7. Fact Finding Fact finding is about collecting secondary (or descriptive) data with a view to obtaining insights which can assist in decision-making Some examples: • Macroeconomic Data of Pakistan • Global Oil price trends • FDI in China over the period 2000-2005 • Indo-Pakistan trade statistics • Salary structure across ten selected industries MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan

  8. Model Building • Model building is about specifying relationships between two or more variables • Models can range from very simple ones, involving only two interrelated variables to complex ones involving several interrelated variables (multivariate statistical forecasting models) MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan

  9. Classification of Secondary Data: Internal Sources • Internal Sources (data already existing within an organization, for example, data collected and stored by various departments such as accounting and finance, marketing) • Sometimes one unit in an organization is unaware that other units may be maintaining data which may be relevant for it and undertakes unnecessary and costly data collection MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan

  10. Classification of Secondary Data: External Sources • External Sources (data generated or provided by individuals and entities other than the researcher or his/her organization) • There are many types of external sources of secondary data: • Books and Professional Journals • Federal Government sources • Regional / Provincial Publications • Electronic and Print Media Sources • Commercial Sources • Internet, CDs MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan

  11. Secondary Data in the International Context • As economies and business becomes increasingly global in outlook, so does the need for secondary data from other regions and countries • Potential Problems: • Unavailability of data in some countries • Accuracy of data may be questionable • Definitions and measurements of data may vary • Comparability of data may be difficult MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan

  12. On-Line Sources of Secondary (Business) Data in Pakistan: Selected Examples • Business Recorder www.brecorder.com • Forex Pakistan www.forexpk.com • Karachi Stock Exchange www.kse.com.pk • The Economist www.economist.com/countries/pakistan • State Bank of Pakistan www.sbp.org.pk • National Bank of Pakistan www.nbp.com.pk • Federal Ministry of Finance www.finance.gov.pk • Pakistan Federal Government www.pakistan.gov.pk MBA III (Research Methodology) Course Instructor: Dr. Aurangzeb Z. Khan

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