Overview of data in business research
According to Cowton (1998), there are two kinds of data utilised for any research project, namely:
Primary Data, collected through surveys and meetings. This procedure includes questioning participants on the delicate survey issues that are considered valuable for such studies.
Secondary data, collected by other researchers, though not always exactly for the study question at hand. Scholars, however, refer to such data to draw implications that relate to the course of their study.
James (2007) notes that Pragmatism is a philosophical custom that started in the United States around 1870. Pragmatism rejects the notion that the capacity of belief is to portray, speak to, or mirror reality. Instead, down-to-earth individuals think about thought as an instrument or device for expectation, critical thinking and activity. Logical thinkers state that most philosophical subjects, for example, the nature of learning, dialect, ideas, significance, conviction, and science are all best viewed in relation to their applied usages and achievements.
Saunders et al (2009) defined epistemology as presence anxious with what establishes putative information in an arena of study. Also, when conducting an investigation, diverse philosophical methods are applied. There are dissimilar philosophies related to research approaches; for the course of this investigation and consultancy project, an epistemological pragmatism approach was implemented.
As a research model, the mixed methods approach, as described by these authors, includes a separate set of thoughts and observations that distinguish the approach from the other main research models.
Plano Clark et al (2008) and Tashakkori and Teddlie (2003) further investigate these research approaches. Along with others, these authors outline the differences between the mixed methodology approach and investigation paradigms that have preferred the usage of whichever quantitative or qualitative methodologies and they have argued that the crucial physiognomies of the ‘mixed methods’ method include its use of:
· quantitative and qualitative methods inside the same research scheme;
· a research strategy that evidently stipulates the sequencing and priority that is given to the quantitative and qualitative elements of data-gathering and analysis;
· an obvious explanation of the method in which the quantitative and qualitative aspects of the study relate to each other, with clear emphasis on the method in which triangulation is used.
A deductive method is similar to the ‘cascade approach’, in casual terms called a ‘top-down’ approach. This method switches from a widespread idea or philosophy to a more precise deduction. It is typically used in examining theories to reach an intelligible assumption; these theories are tested, investigated and experiential to attain a definite conclusion (Saunders et al, 2009).
Meanwhile Thomas (2006) argued that an inductive approach should be the opposite – applying a ‘bottom-up’ approach. Inversely, models are shaped or deduced from previous observations and hypotheses. However, certain of these concepts may include some gradation of hesitation and can be rejected.
For the purpose of this research project, an inductive approach is used to arrive at efficient and effective recommendation(s) which will help the client in his decision-making process.
Consequently, Thomas and Brubaker (2003) state that there are two research approaches particularly approved by researchers, which are:
· Qualitative approach, containing a research describing human physiognomies and proceedings and likening capacities or quantity of physiognomies of people or actions in the research.
· Quantitative Research is the usage of figures and arithmetical approaches for arithmetical examinations and analyses.
However, Bellini and Rumrill (2009) additionally clarified that no quantitative researchers pursue clarifications and predictions that comprise a sample and experimental strategies to crop widespread results.