What is an example of primary data?

Primary data refers to information that is collected directly from original sources for a specific research purpose. This type of data is gathered firsthand and is specific to the issue at hand, making it highly relevant and tailored to the needs of the research project.

In this context, a survey of customer opinions is an example of primary data because it is conducted to gather specific insights directly from customers regarding their thoughts, feelings, and preferences. This approach allows businesses to understand their audience's needs more accurately and tailor their strategies accordingly.

On the other hand, market research reports, industry financial data, and sales records from previous years consist of secondary data, as they involve analyzing data that has already been collected and published by others or from prior records rather than collecting new data specifically for the research question at hand. Thus, the survey stands out as original and directly applicable information reflecting current customer sentiments.