What defines primary data?

Primary data is defined as information collected directly from original sources specifically for a particular research purpose. This type of data is gathered firsthand through various methods such as surveys, interviews, experiments, and observations. It is tailored to meet the specific needs of the research, ensuring that it is relevant and directly applicable to the questions or hypotheses being explored.

The distinction between primary data and other types of data is critical. For instance, secondary data consists of information that has already been analyzed and published, which does not serve the unique requirements of a new study. Additionally, collecting data indirectly from other studies refers to a reliance on existing data rather than freshly gathered insights, which can lead to less relevant findings for a new research initiative. Lastly, while personal opinions and experiences may form interesting qualitative insights, they do not represent systematic data collection and analysis, which is essential for rigorous business research. Thus, the definition of primary data emphasizes its role as original and specifically gathered to fulfill the research's objectives.