Primary And Secondary Data

Introduction

The successful running of the business organization depends on the proper decision making of the management. Undertaking proper decision is very significant as it helps the authorities of the business organization to choose the correct option from several alternatives. For a medium size organization like X Ltd decision making of the authorities is very important. The organization provides employment to about 5000 people. However, recently the sales of the organization have declined due to lack of innovation and improper use of technology within the organization. For this reason, the authorities of X Ltd have decided to conduct a research in order to know the taste and preference of the customers regarding the use of car. The research will enable the authorities of the X Ltd to know about the current market condition and the latest designs and trends in the market.

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This is a solution of Primary And Secondary Data in which we discuss Primary And Secondary Data.

Introduction

The successful running of the business organization depends on the proper decision making of the management. Undertaking proper decision is very significant as it helps the authorities of the business organization to choose the correct option from several alternatives. For a medium size organization like X Ltd decision making of the authorities is very important. The organization provides employment to about 5000 people. Read More About:- Computer Systems Development Assignment Help

However, recently the sales of the organization have declined due to lack of innovation and improper use of technology within the organization.  For this reason, the authorities of X Ltd have decided to conduct a research in order to know the taste and preference of the customers regarding the use of car. The research will enable the authorities of the X Ltd to know about the current market condition and the latest designs and trends in the market.

Aims: The research is conducted with the aim to launch new cars in the market.

Objectives: To acquire primary and secondary data to know about the choice of the younger customers regarding the use of cars To know about the latest trend available in the market.

Primary and Secondary Data

When the management of the X. Ltd Company decided to change their models of car that are more prefer by the younger generation. In order to do so they have to make a good study of the market that would enable them to increase their sales in the near future.

It is believed at this time data collection plays a very vital role in the research. The data that will be gathered would be further analysed by the experts who on the basis of the data that was analysed would be able to provide their opinion. On focusing the opinions that are provided by the experts, the management of the X ltd would make decisions as per the requirements that would enable them to increase their level of sales. More Know About:- Computer Software Assignment Help

Moreover it is worth mentioning that the data collection is comprised of two types which is the primary data and the secondary data (Prucha, 2000).   The primary data and the secondary data both helps in gathering different types of data that would assist in the decision making process but the sources by which the primary and the secondary researches are conducted are different.

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