Researchmethodology_data Gathering

RESEARCH METHODOLOGY (Business Research Methods)

MBA III (Research Methodology)

Course Instructor: Dr. Aurangzeb Z. Khan

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Secondary Data

Secondary (or historical) data is data which has been acquired through a research or any other effort in the past and for another purpose Depending on the secondary data needed, there may be numerous sources for acquiring this secondary data

MBA III (Research Methodology)

Course Instructor: Dr. Aurangzeb Z. Khan

2

Advantages of Secondary Data

• • • •

Pool of already existing data Cost-effective vis-à-vis primary data Quick availability No need for designing and undertaking a research study • Collecting primary data may not be feasible (privacy issues) • Many different sources are available MBA III (Research Methodology)

Course Instructor: Dr. Aurangzeb Z. Khan

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Disadvantages of Secondary Data

• Relevance for researcher • Does data apply to target population? • Time-frame consistent with researchers requirement? (outdatedness) • Variation in terms of definition of terms • Different units of measurement (data conversion) • Verification of data’s accuracy (inherent biases due to vested interests) • Reputation of the data-collecting organization and research design used may not be good MBA III (Research Methodology)

Course Instructor: Dr. Aurangzeb Z. Khan

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Evaluating Secondary Data

Applicability to Current Project

Do the data help answer questions set out in the problem definition?

No!

Yes

Do the data apply to the time period of interest?

No! Can data

be reworked?

Yes

Do the data apply to the population of interest?

No!

If yes, continue

Yes

Do other terms and variable classifications presented apply to the project?

No!

Yes

Are the units of measurement compatible? MBA III (Research Methodology)

No!

Course Instructor: Dr. Aurangzeb Z. Khan

(Next Slide!) 5

Evaluating Secondary Data Are the units of measurement compatible? Yes

If possible, go to the original data source Yes

Is the cost of data acquisition worth it?

No!

Yes

Is there a possibility of bias? Is using data worth the risk? No

Yes No

No

Can accuracy of data collection be verified? Yes (accurate)

Yes! No! Inaccurate or unsure)

Use Data MBA III (Research Methodology)

Course Instructor: Dr. Aurangzeb Z. Khan

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Fact Finding Fact finding is about collecting secondary (or descriptive) data with a view to obtaining insights which can assist in decisionmaking Some examples: (1) Macroeconomic Data of Pakistan (2) Global Oil price trends (3) FDI in China over the period 2000-2005 (4) Indo-Pakistan trade statistics (5) Salary structure across ten selected industries

MBA III (Research Methodology)

Course Instructor: Dr. Aurangzeb Z. Khan

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Model Building

 Model building is about specifying relationships between two or more variables  Models can range from very simple ones, involving only two interrelated variables to complex ones involving several interrelated variables (multivariate statistical forecasting models)

MBA III (Research Methodology)

Course Instructor: Dr. Aurangzeb Z. Khan

8

Classification of Secondary Data: Internal Sources

 Internal Sources (data already existing within an organization, for example, data collected and stored by various departments such as accounting and finance, marketing)  Sometimes one unit in an organization is unaware that other units may be maintaining data which may be relevant for it and undertakes unnecessary and costly data collection MBA III (Research Methodology)

Course Instructor: Dr. Aurangzeb Z. Khan

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Classification of Secondary Data: External Sources

 External Sources (data generated or provided by individuals and entities other than the researcher or his/her organization)  There are many types of external sources of secondary data:      

Books and Professional Journals Federal Government sources Regional / Provincial Publications Electronic and Print Media Sources Commercial Sources Internet, CDs

MBA III (Research Methodology)

Course Instructor: Dr. Aurangzeb Z. Khan

10

Secondary Data in the International Context

 As economies and business becomes increasingly global in outlook, so does the need for secondary data from other regions and countries  Potential Problems:    

Unavailability of data in some countries Accuracy of data may be questionable Definitions and measurements of data may vary Comparability of data may be difficult MBA III (Research Methodology)

Course Instructor: Dr. Aurangzeb Z. Khan

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On-Line Sources of Secondary (Business) Data in Pakistan: Selected Examples  Business Recorder

www.brecorder.com

 Forex Pakistan

www.forexpk.com

 Karachi Stock Exchange

www.kse.com.pk

 The Economist

www.economist.com/countries/pakistan

 State Bank of Pakistan

www.sbp.org.pk

 National Bank of Pakistan

www.nbp.com.pk

 Federal Ministry of Finance

www.finance.gov.pk

 Pakistan Federal Government www.pakistan.gov.pk

MBA III (Research Methodology)

Course Instructor: Dr. Aurangzeb Z. Khan

12