Even though primary data can be especially valuable to an individual firm, secondary data are often used because
A) secondary data are much more up-to-date and tailored to a specific firm or industry.
B) secondary data, although far more expensive, are also much more reliable.
C) primary data are usually more costly and time-consuming to collect.
D) primary data can be accessed by virtually anyone so the information generated loses much of its value.
E) primary data are less fact and figure based; they are more subjective and therefore more vulnerable to misinterpretation.

Question

Quizplus · Accepted Answer

Primary data collection is often more expensive and time-consuming compared to using secondary data, which is why firms may opt for secondary data.

Even Though Primary Data Can Be Especially Valuable to an Individual