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:

Two methods for collecting primary data

Methods for Collecting Primary Data

Two 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  • Data is obtained by published and unpublished sources.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:

Showing image of Some of the published sources

Some of the Published Sources

Showing image of Some of the published sources

Table shows the some of the published sources
Showing image of 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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