Answer to Question #280050 in Management for Bob

Question

What are the channels for obtaining data, and what are the advantages and disadvantages of these channels in empirical analysis

Answer 1

Survey- is a method of gathering information through questionnaires for research purposes.

Advantages

Convenient Data Gathering

High Representativeness

Low Costs

Precise Results

Little or No Observer Subjectivity

Disadvantage

Not Ideal for Controversial Issues

Inflexible Design

Possible Inappropriateness of Questions

Literature sources- This involves the collection of data from already published text available in the public domain. They include; Magazine, textbook, newspaper and government or companies resports.

Advantages

Time- saving

Low cost or free

Anyone can collect the data

Easy to access

Disadvntages

Data might be out of date

You are not incontrol of the data quality

Not specific to your needs