Which types of research are considered the two main types of business research?

The two main types of business research are classified as primary research and secondary research. Primary research involves the collection of new data that has not been previously gathered, allowing researchers to obtain specific insights relevant to their particular questions or objectives. This type of research can include surveys, interviews, and experiments, providing firsthand information that is tailored to the researcher's needs.

Secondary research, on the other hand, involves the analysis of existing data that has already been collected by others. This can include reviewing academic journals, market reports, and other published materials. Secondary research allows businesses to leverage previously gathered insights and statistics to inform their decisions without the time and cost associated with collecting new data.

Understanding these two types of research is essential for effectively tackling business problems and making informed decisions based on the most relevant and reliable information.