Research has become a fundamental aspect of any business or organisation. It helps management to identify a range of opportunities, flaws, and risks in any industry or field. The research was formally associated with science and technology. Now it has made its way into all kinds of businesses. Research methods are a crucial aspect of any research project, as they guide the researcher to systematically collect, analyse, and interpret data. These research methods form the backbone of the research process, ensuring that the research is conducted rigorously and reliably. The selection of appropriate research methods is critical to the success of the study. The type of research method will determine the quality of the data obtained and the extent to which the research objectives are met. In this article, we will explore the different research methods available, their strengths and weaknesses, and the process of conducting research.

Types of research methods

There are dozens of research methods available for researchers to collect data from different demographics under different conditions. We will only focus on the major types of research methods.

1. Qualitative research method

Qualitative research is used to understand and interpret the meaning behind social phenomena. It seeks to explore and understand the perspectives and experiences of individuals, groups, or communities through the collection of non-numerical data like narratives, interviews, and observations. Qualitative research is often used when the research question involves understanding the underlying reasons, opinions, or motivations behind a particular behaviour or phenomenon. For example, a qualitative study may seek to understand the experiences of individuals living with chronic illness or the perspectives of teachers on the implementation of a new educational policy. In the business world, market researchers employ this method to understand market trends and expectations through product reviews, customer interviews, and surveys.

Qualitative research is known for its flexibility.  It allows the researcher to adjust their approach and methods as the study progresses. Hence, the researcher gains a deep understanding of the topic. In turn, they can explore unexpected insights that may arise during the research process. It gives ideas, fresh perspectives, and market opportunities for the business conducting it. Businesses that understand their customers' needs will have market leverage that their competitors lack.

2. Quantitative research method

Quantitative research is an empirical research method that aims to quantify data and generalise results from a sample to the entire population. It involves collecting numerical data through structured methods such as surveys, experiments, and statistical analysis. Quantitative research usually involves large sample sizes to ensure that the results are statistically significant and reliable. The data collected in quantitative research is typically analysed using statistical methods to identify patterns and relationships between variables. The findings are often presented in the form of tables, graphs, and charts.

Quantitative research is commonly used in fields such as economics, psychology, sociology, and market research, where data can be objectively measured and analysed. It is particularly useful in identifying cause-and-effect relationships and making predictions about future trends or behaviours. Surveys and exit polls regarding upcoming elections in a democracy and public opinion collection about a particular social issue are some examples of quantitative research. However, this method may not capture the rich and complex nuances of human experiences, emotions, and behaviours that qualitative research can provide, as they only collect data in numerical values or with limited options to choose from.

3. Mixed research methods

Mixed-methods research is an approach that combines both qualitative and quantitative research methods to provide a more comprehensive understanding of a research question. It involves collecting and analysing both quantitative and qualitative data and then integrating the two approaches to gain a robust understanding of the research problem. Mixed-methods research can be used in a variety of fields, like the social sciences, health sciences, education, and business. It is particularly useful when dealing with complex research questions that cannot be easily answered using a single research method. Mixed research methods allow researchers to gather a wider range of data, which can lead to more accurate and meaningful results. It can also help to validate findings from one method with another, increasing the overall reliability of the research.

Mixed-methods research can also provide a more complete understanding of the research topic by combining both qualitative and quantitative data. However, some factors, like the need for specialised knowledge and skills to design and conduct such studies, can keep businesses from employing this method. As integrating the two research methods is a difficult and complex process, there is always a risk that one method may overshadow the other, leading to biased or incomplete results. Experienced professionals and market research firms can solve the problem more easily than businesses that have no experience with or understanding of the research method.

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Research process

Conducting research is a crucial part of the academic and scientific process, with applications in the business world as well. Research is conducted to explore new knowledge, test hypotheses, and answer questions related to a specific topic. It is a systematic process that involves gathering and analysing data to draw meaningful conclusions. The process of conducting research can be divided into several stages, each of which requires careful planning and execution.

1. Selecting a research topic

The first step in conducting research is selecting a research topic. The topic should be something that interests you, is relevant to your field of study, and has not been extensively researched. The research topic should also be narrow enough to allow you to conduct a comprehensive study within a reasonable time frame. In the business world, researching the possible market share for a new product, market trends, customer opinions about products, and the performance of competitors can give companies valuable information. Selecting a topic and narrowing it down to questions that can be easily communicated with the populace will increase the effectiveness of the process.

2. Reviewing the sources, literature, and previous research

Once you have selected a research topic, the next step is to review the existing literature on the subject. This includes other research materials. This also involves reading books, journal articles, and other publications related to the topic. The purpose of the review process is to identify gaps in the existing knowledge and to determine the research questions that need to be addressed. Other major corporations, market research agencies, or your competitors may have conducted their research on the same topic. From the academic perspective, previous generations of students, groups, and universities might have laid the foundations for further research on the topic. Finding them and reviewing them will greatly minimise your efforts and workload.

3. Formulating research questions

The research questions are the heart of any research project. They should be clearly defined and reflect the objectives of the research. The research questions should be specific, measurable, achievable, relevant, and time-bound (SMART). Moreover, these questions must be easily communicated if collecting public opinion is involved. Gathering reliable public opinion on the topic requires careful planning, wording, and communication of the questions. The reason is that the opinions might be affected by the location, mindset, or thought process of individuals.

4. Choosing a research method

Choosing the appropriate research method is crucial for any research project. However, choosing one method depends on the scope of the intention of data collection and the application of the data collected. The choice of research method depends on the research questions and the nature of the research. The research method chosen should closely align with the research question, the research objectives, and the nature of the data being collected. The three main research methods used in academic research are qualitative research, quantitative research, and mixed methods research. However, there are several other research methods within these 3 methods that you can choose from according to your needs.

5. Collecting data

Data collection is a critical stage in conducting research. The data collected should be relevant to the research questions and should be collected using valid and reliable methods. Data can be collected through surveys, interviews, observations, or experiments. Researchers must also keep in mind the psychology of the public. This is because their opinions may be distorted in some settings while honest in others. For example, individuals might go with the view of the majority of the population if the research question is conducted in a public setting. On sensitive issues like exit polls for elections, public surveys tend to be unreliable. Additional measures must be taken to safeguard the opinions of individuals so that the situation can be assessed reliably.

6. Analysing data

Data analysis involves organising, interpreting, and presenting the data collected. The data can be analysed using various statistical techniques, depending on the research questions and the nature of the data. Technology has made it easier to analyse data and visualise it with charts and graphs. Software solutions range from simple Excel sheets to sophisticated data analytics and visualisation software. While these solutions can be implemented with great success for qualitative research methods, qualitative research methods require manual analysis. This might lengthen the process due to its opinionated nature. In such research, technology must advance further in AI and machine learning to substitute humans and manual work.

7. Drawing conclusions

The final stage of conducting research is drawing conclusions based on the data analysed. The conclusions should be based on the evidence collected and supported by the data. The conclusions should also be relevant to the research questions and contribute to the existing body of knowledge. Concluding must also be checked with different individuals, researchers, and research firms for additional verification. This is because neglected errors can destroy the reputation and reliability of the research. After careful consideration of the conclusions according to reason, the research will be ready to be published.

8. Reporting and Disseminating Research 

Reporting and disseminating research is a critical aspect of the research process. It involves communicating the findings of research to different audiences in a clear, concise, and compelling way. Reporting and disseminating research help researchers share the knowledge gained from research with the academic or business community. They can communicate findings to broader audiences for benefiting a larger community. This audience includes policymakers, practitioners, and the general public. There are different methods of reporting and disseminating research. Academic publications, such as peer-reviewed journals and books, are the primary mode of disseminating research to academic audiences. These publications are important for building the researcher's reputation, and they provide a forum for peer review and critical feedback.

Conference presentations are also a common way to disseminate research findings, which is popular in the corporate research world. They provide an opportunity for researchers to present their work to other scholars in their field. It allows them to receive feedback and network with colleagues. Conferences are especially useful for early-career researchers who are seeking to establish themselves in their field. Reports and policy briefs are useful for disseminating research findings to policymakers, practitioners, and other non-academic audiences. These publications typically provide a summary of the research, including key findings and policy implications. They are often used by policymakers to inform decisions and by practitioners to improve their practice. Researchers also use social media platforms, like Twitter, LinkedIn, and ResearchGate, to share their work, engage with colleagues and peers, and build a following.

Conclusion

Research has evolved from the confines of science and technology to become a fundamental aspect of all businesses and organisations. Research helps organisations identify trends, opportunities, and risks and collect reliable public opinion. They can thus make informed decisions about their next move, which will strengthen the organisation. Choosing the right research method is crucial for conducting a successful research project. It is important to carefully consider the research question, the data available, and the research objectives before deciding on a specific method. Qualitative, quantitative, and mixed methods research each have their advantages and disadvantages.

Hence, researchers should choose the method that best fits their specific research question and objectives. In addition to choosing the appropriate research method, reporting and disseminating research findings is also an essential aspect of the research process. Researchers must communicate their findings in a way that is easily understandable to the intended audience. They must disseminate their findings through appropriate channels to ensure that their research has a meaningful impact.

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https://www.educba.com/types-of-research-methodology/