Primary data is information collected through original or first-hand research. For example, surveys and focus group discussions. On the other hand, secondary data is information which has been collected in the past by someone else. For example, researching the internet, newspaper articles and company reports.

Why do marketers use primary data and secondary data?

Primary data can be more accurate and beneficial than secondary data. It's specific to your niche market. Using secondary data to find relevant information can be difficult. Conducting primary research, however, often returns the exact data you want.

How do marketers use secondary data?

Secondary data is quite valuable, as you can use it to find facts, to build models, and for database marketing. Your own company may keep internal records for sales, expenses, and customers which may be useful. To identify market trends, patterns and changes, tap into the many sources already available.