# Making Statistical data Meaningful

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## Collection of Data

Data are collected by investor in two different ways. One way is to collect data directly from the respondent. Respondent is a person who answers the questions of investigators and the other is adopting the data which are already collected by someone. Ways of collection of data such as:

• Primary data

• Secondary data

### Primary data:

• Statistical information collected is called primary data and the source of such information is called primary source.

• Data are original because they are collected for the first time by the investor himself.

• Data can be collected in various ways such as direct personal interviews, questionnaire method.

• For ex. Investors collects the information about salaries of National Open School employees by approaching them.

Methods for collecting primary data:

• Direct personal Interview:

• Interviewer has to be face-to face with the person from whom he wants information.

• This person is called respondent.

• Questionnaire method:

• Question booklet is prepare and sent to respondents.

• Investigator can collect data according to his requirement.

• It is reliable and sufficient for the purpose of investigation.

• It involves a lot of cost in terms of money, time and energy.

### Secondary data:

• Secondary data means to adopt the data already collected by someone else.

• Obtained statistical information is called secondary data.

• The source of such information is called the secondary source.

• Data is obtained by published and unpublished sources.

• For ex. Investors collects the information about salaries of National Open School from the salary register maintained by its accounts branch.

Some of the published sources:

 Central Statistical Organisation (CSO) ∙ Publishes data on national income, savings, capital formation etc ∙ It’s known as National Accounts Statistics. National Sample survey organisation (NSSO) ∙ Provides data on all aspects of national economy such as agriculture, Industry and labour. Reserve Bank of India (RBI) ∙ Publishes financial statistics, Report on currency and finance, RBI Bulletin, Statistical tables relating to banks in India etc. Labour Bureau ∙ Publications are Indian Labour statistics, Indian Labour Year Book and Indian Labour Journal. Population Census ∙ Provides Statistics on population. ∙ Undertaken by office of the Register General, Census of India, Ministry of Home Affairs. Papers and Magazines ∙ Journals like Capital, Commerce, Economic and Political Weekly, Economic Times etc. also published statistical data.

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