What is different between getCollection(); and $product->getData();
$products_collection = Mage::getModel('catalog/product') **getCollection(); ->addAttributeToSelect('*') ->addFieldToFilter('price','5.00');
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getCollection() return the collection/list of products based on the filter given.
While in getData() its return the products data in an array based on the filter used on collection.
There is also one other method called getItems() it returns products object list.
getData() returns product data as an array while getItems() returns products objectlist.