Within the plural sense, Statistics refers to details or quantitative data that can be utilized to attract vital conclusions. Therefore, for a pupil of Economics, the principle goal to gather information is to acknowledge, consider, and describe a social difficulty. For instance, the issue of poverty or the issue of unemployment. For this, the investigator can analyze the information to search out the causes and attainable options to the issue. Thus, information assortment performs an vital position within the evaluation of information, so it should be rigorously collected.
The information may be collected from two sources: major sources and secondary sources. The first supply of information consists of information assortment from its origin. It gives first-hand quantitative data which is related to the research. The secondary supply of information entails getting applicable statistical data from an company or establishment that already has that data. It doesn’t present first-hand data, which is related to the research. Accordingly, completely different factors should be stored in thoughts whereas utilizing secondary information.
Connor has rightly stated that ” Statistics particularly different folks’s Statistics is filled with pitfalls for the others.”
Precautions earlier than utilizing Secondary Information
The next factors must be stored in thoughts earlier than utilizing Secondary Information:
- Is the information dependable?
- Is the information appropriate for investigations?
- Is the information sufficient?
To judge the reliability, applicability, and sufficiency of the information, the next factors are to be stored in thoughts:
1. Capability of the Amassing Group:
It’s essential to analyze the credibility of the entity that collected the information within the first place. The knowledge ought to solely be utilized if it was gathered by competent, certified, and unbiased investigators.
2. Goal and Scope:
Whereas gathering the information, the aim of information assortment and the extent of the investigation must be specified. Information ought to solely be utilized if the current research’s goal and scope match the sooner research’s goal and scope. Furthermore, the suitability of information may be determined for the current research by investigating the character, homogeneity, unit, phrases, and so on., of the secondary information.
3. Assortment Technique:
You will need to be aware how the unique researcher collected the information. The method used should be applicable for the kind of research. The sampling course of could also be biased relying on the mechanism of pattern choice. Earlier than utilizing secondary information, all issues must be decided.
The information must be verified for accuracy whereas utilizing secondary information. It’s essential to make use of truthful information to keep away from biases and prejudices, which may result in false conclusions. The information must be rejected in the event that they don’t meet the required stage of accuracy.
5. Time and Situation of Assortment:
Additionally it is needed to think about the length of the investigation in addition to the situations of the investigation whereas utilizing secondary information.
6. Definition of Unit:
The unit of measurement employed whereas gathering information for the primary time should be the identical as adopted within the current research. In case of a distinction between items of measurement of preliminary information and the current research, information should be modified earlier than additional use.
Briefly as stated by Bowley, “It’s by no means secure to take revealed Statistics at their face worth with out realizing their limitations and that means.”