Even though primary data can be especially valuable to an individual firm, secondary data are often used because
-secondary data are much more up-to-date and tailored to a specific firm or industry.
-secondary data, although far more expensive, are also much more reliable.
-primary data can be accessed by virtually anyone so the information generated loses much of its value.
-primary data are less fact and figure based; they are more subjective and therefore more vulnerable to misinterpretation.
-primary data are usually more costly and time-consuming to collect.
Answer: primary data are usually more costly and time-consuming to collect.