Secondary Research - Essay Example

Another justification is secondary data are more convenient to employ in the research because they are already compacted and organized. Furthermore, analysis and explanation are done more easily (Gill, 1993 and Israel, 1993). Using secondary data also leads to easy summarization of all the needed information, formulation of conclusion according to the null hypotheses and insightful recommendations focusing with subprime mortgages. One of the benefits of secondary data analysis is that researchers with research skills limit or technical skills limit can be taught to perform this type of analysis.

The main issue in this process that the research chose is his skill to judge the quality of the collected data or information that has been collected (Novak, 1996 and Pritchard, 1996). Primary data are raw materials of the process of research, they represent the events in the subprime mortgages, while secondary data are based on primary data, they are already describe, analyzed and synthesize. The question is, if the source is secondary, does it accurately related to the information needed that can be answered by primary data Secondary data is basically called as outcome data.

Because secondary data is usually characterize as the state or circumstance of phenomena or a group. On the other hand, these data do not tell the researcher why the state or condition exists. This is the limitation of using secondary data but can be solved by two ways, like analysis of more key data and indicators (Shell, 1997 and Trochim, 1997). This approach helped the researcher explained why the problem in his study exists. For example, the bankruptcy of Lehman Brothers and the downfall of AIG has been identified as a problem, there will be data on their finances, types of mortgages, different terms and payments of the borrowers, cost of bankruptcy and so on, this information can be paralleled to identifying ho this problem occurred and possible causes of the problems and solutions.

Thus, cross-analyzing main indicators and utilizing information sources helped the researcher understands or make rationalization sound inferences about the immeasurable states or situations, this has allowed the researcher to have a better understanding of the events in answering the questions, what, where and why. Secondary data analysis can be taken out rather than rapidly when paralleled to structured primary data collection and analysis practices. The level of data desegregation, secondary analysis of data leads itself to pattern analysis as it provides a relatively easy way to observe change over time (Price, 2000 and Trochim, 2002).

However, since secondary data is not basically collected by the researcher for the same objective as the original researcher, the purposes and goals of the original study can possibly brings out bias to the study. In this study, secondary data can be an important source of facts for acquiring knowledge and insight into a wide range of issues and situation. The review and analysis of secondary data can offer an efficient way of answering issues, practicing cross-national parallelization, understanding the events in the current state of the subprime mortgages, identifying the direction and extent of change.

Finally, secondary data complements primary data