Final answer:
Micro data refers to detailed individual records, while aggregated data combines these records into summary form. Aggregated data simplifies complex information, allowing for analysis of broader patterns and trends.
Step-by-step explanation:
The differences between micro data and aggregated data lie in the level of detail and scope. Micro data pertains to individual records or observations, offering a granular view, often used in microeconomic analysis. Conversely, aggregated data sums up and combines these individual records into larger categories, suitable for macroeconomic evaluation.
One advantage of aggregated data over micro is its ability to simplify complex information, making it easier to discern patterns and trends relevant to large groups or entire economies. For instance, while micro data may tell us about specific consumer behaviors, aggregated data can show overall consumer spending trends, which is valuable for broad economic planning and analysis.