Introduction to Research

Difference between Data,

Information and Knowledge
• Data: Data are the raw facts collected either from the secondary sources
like; newspaper, magazines, journals, reports, websites etc, or from
primary sources like sample members (respondents). Data become the
basis for research in social sciences of which research in business and
industry is a part thereof.
Census is conducted in India every ten years, so the census data becomes
very important data in Indian context. In census, data are collected under
the various character like name, gender, age, education, income, marital
status, no. of children, dwelling area, no. of vehicles / cows / buffalos / etc.
There are various other research agencies in India (both government and
non-government) which collect data and publish. All these become very
significant source of secondary data for research.
• Information: Information is processed output from the data. Raw
data go through the transformation process and the resulting output
becomes the information. Transformation process is also called as analysis
of data. Data are transformed (analyzed) using statistical tools either
through calculations using formula or if data are large, then with the use of
software. There are many software for statistical analysis like; SPSS,
AMOS, MS Excel, SmartPLS, Eviews, Stata, Statistica etc. Out of these,
SPSS is part of your syllabus which stands for Statistical Package for
Social Sciences.
To differentiate between data and information, an information can be
derived from census data analysis is that ‘India is one of the countries of
youngest population as its median age is 29 years. This is a meaningful
information extracted from age data of Indian population
 To cite another example of information extracted from census data is that
India female literacy is drastically less than male literacy. Other
information may be ‘About 60% of the population is dependent on
agriculture’, ‘Rural population is almost double of the urban population’,
so on and so forth.
• Knowledge: Knowledge has something to do with storage. The
information a person has stored in his mind is his knowledge. The
information a teacher has stored in his mind is teacher’s knowledge. The
information student has stored in his or her mind is his or her knowledge.
Teacher is supposed to be more knowledgeable than students because
teacher has stored more information in his mind than student.
 Definitions of Research
• “A scientific and systematic search for pertinent information on a specific
topic”
To explain this definition; scientific means a phenomenon where cause
and effect relationship can be established. In terms of research it means if
many persons are conducting research on a topic / problem in the same
area / scope, then each should have same findings after the research. Then
only research is said to be scientific.
Systematic is made up of word ‘system’, which means a set of elements
joined together. Elements may be rules and regulations, policies and
procedures, processes, tools, methods, equipments, people etc. In research
also all these things are supposed to be put together.
So following scientific and systematic processes if information which are
relevant, are searched on any topic / problem, it is called research.
• “A careful investigation or inquiry specially through search for new facts
in any branch of knowledge”
This definition highlights the role of probing / inquiry / investigation to
get new facts in any branch or subject of study. No research is possible
without investigation or inquiry into any phenomenon or some new
happenings. The aim of investigation happens to be finding new facts
which was not known.
• “A systematized effort to gain new knowledge”
This definition also emphasizes on the role of system to be followed in
research. Search of new knowledge through systematic effort is termed as
research.
• “Some people consider research as a movement, a movement from the
known to the unknown. It is actually a voyage of discovery. We all possess
the vital instinct of inquisitiveness for, when the unknown confronts us, we
wonder and our inquisitiveness makes us probe and attain full and fuller
understanding of the unknown. This inquisitiveness is mother of all
knowledge and the method which man employs for obtaining the
knowledge of whatever the unknown, can be termed as research.
 This definition also needs further explanation. It emphasizes on the role of
curiosity (inquisitiveness) in research which may also lead to blockbuster
discovery. All human beings have curiosity to know something that is
unknown to us. Unless we know something unknown, some confrontation
tales place within ourselves. This confrontation compels us to probe
(investigate) about the unknown. So this curiosity becomes the mother of
all knowledge and the method we use to gain the knowledge is known as
research.
• “Research is the process of identifying and defining the research problem,
collecting, organizing, summarizing and analyzing data to draw some
meaningful conclusion to be reported to the decision-maker to solve the
problem or to publish it as new knowledge in the subject of study”.
This is actually most practical and the best definition of research.
 This definition can be broken into the following parts:
1. Identifying a research problem:
Research problems are identified by some person experiencing the
problem or with the help of gap in the literature (which is unresearched
area)
2. Defining the research problem:
It does not mean giving a few line definition of the research problem. It is
to identify relevant variable that affect the research problem. Researchers
are supposed to go through theories underlying the research problem and
also the previous researches and literature that will help pick up relevant
variables.
3. Collecting Data:
One the variables are identified, relevant questions are made to collect data
from sample members (respondents).
 4. Organizing and summarizing data:
Once the data are collected, it needs to be arranged in the form of table ,
charts etc. so that it is worth presenting some where for further processes.
5. Analyzing data:
Data need to be analyzed with the help of statistical tools and software.
6. Drawing meaningful conclusions:
Whatever information are coming out of data analysis, they become
meaningful conclusions.
7. Reporting the finding:
After data analysis, researcher is supposed to prepare the report on the
research. This report is submitted to the decision-maker for solving the
research problem or is published as a new knowledge in the subject of
study
 Objectives of Research
The purpose of research is to discover answers to questions through the
application of scientific procedures. The main aim of research is to find out
the truth which is hidden and which has not been discovered as yet.
Though each research study has its own specific purpose, we may think of
research objectives as falling into a number of following broad grouping:
1. To gain familiarity with a phenomenon or to achieve new insights into it
(studies with this object in mind are termed as exploratory or formulative
research studies)
2. To portray accurately the characteristics of a particular individual, situation
or a group (studies with this object in view are known as descriptive
research studies)
3. To determine the frequency with which something occurs or with which it
is associated with something else (studies with this object in view are
known as diagnostic research studies
4. To test a hypothesis of a causal relationship between variables (such
studies are known as hypothesis-testing research studies)
 Significance of Research
• “All progress is born of inquiry. Doubt is often better than overconfidence,
for it leads to inquiry and inquiry leads to invention”
• The role of research in several fields of applied economics, whether related
to business or to the economy as a whole, has greatly increased in modern
times.
• Research provides the basis for nearly all government policies in our
economic system.
• Research has its special significance in solving various operational and
planning problems of business and industry.
• Research is equally important for social scientists in studying social
relationships and in seeking answers to various social problems.
In addition to what has been stated above, the significance of research can
also be understood keeping in view following points:
• To students who are to write a master’s or PhD thesis, research may mean
a careerism or a way to attain a high position in the social structure.
• To professionals in research methodology, research may mean a source of
livelihood.
• To philosophers and thinkers, research may mean the outlets for new ideas
and insights.
• To literary men and women, research may mean the development of new
styles and creative work.
• To analysts and intellectuals, research may mean the generalizations of
new theories.
 Types of Research
• Descriptive Research: Descriptive research is used to describe
the characteristics of some individual, group or situation. The approach in
this research happens to be very rigid because once the variables / criteria
of description are decided, it does not change over the period of research.
This research is also called as ex post facto research, which means the facts
as existed previously and at present become the part of research. There is
use of 6Ws (what, when, where, who, why and way(how)) to collect data
to describe something. For example a news reporter does the use of this to
describe some happening or incident. Most of the researches in business
and industry fall under this type of research.
• Analytical Research: Analytical research is done just by
analyzing certain data, may be data are already collected or available in the
form of secondary data. For example, financial statements(Profit & Loss
A/C and Balance Sheet) is analyzed with the help of Ratio Analysis, Trend
Analysis, Common Size Statement and Comparative Statement etc. to
 assess the financial health of the company. Similarly sales data are analyzed
to know which product, territory, sales person, division is doing good and
which are performing below the quota. This information will certainly help
in devising sales strategy for the next financial year.
• Basic Research: The purpose of basic research happens to be theory
building and coming up of the breakthrough principles, technology etc to be
used to solve some glaring problems of human-being. For example, the
researches that are done by scientists in laboratory to come up with
something new falls under the category of the basic research. Development
of vaccine for COVID-19 is a kind of basic research.
• Applied Research: When the findings of basic research are
commercialized on large scale to solve problems of mankind, the research is
called as applied research. For example, mobile telephony was developed by
some scientist but its commercialization was done by the companies
 like; Airtel, Vodaphone, Idea, MTNL, BSNL etc. in India.
• Quantitative Research: The research in which the variable
affecting the research problem are quantifiable, the research is called
quantitative research. For example survey data, census data are
quantifiable, so the researches based on such data are called quantitative
research. For example, understanding the frequency of purchase, market
share etc. will fall under this type of research.
• Qualitative Research: If the variables affecting the research
problem are not quantifiable, they are in the form of text, open-ended
responses, then the research becomes qualitative research. The examples of
qualitative research are content analysis, text analysis, phenomenology,
ethnography etc.
• Conceptual Research: When purpose of research is to develop
certain concepts or come out with some new concept, the research is called
as conceptual research. For example capability mapping is a concept which
researcher developed in past one decade.
• Empirical Research: In this type of research data are collected
with the help of survey, observation are experimentation. Empirical
research mostly happens to be quantitative in nature. For example
collecting data from respondents (sample members) come under this
category of research.
• Exploratory Research: Exploratory research is to explore about
the research problem as much as possible because there very little data are
available about the research problem. The approach in this research is
flexible and open to any data / information at any stage of research. Since
 very little or no information is available about the research, expert opinion,
case study, Google search, review of related literature become the source
of data.
• Lab-setting Research: The research which requires that the
experiments in the laboratory are conducted, is called lab-setting research.
• Field-setting Research: The research which requires that the
data be collected from the outside from sample members, is called field-
setting research. For example, survey is a kind of field-setting research.
• Historical Research: The research which aims at conducting
research on past events and past chronological data, are called as historical
research.
 Process of Research
Research is scientific and systematic search for information. Hence, there are
seven standard steps involved in research in business and industry or any social
sciences research.
• Step 1-Identifying and defining the research problem:
For identifying research problem a researcher has to pick up any real problem /
issue / phenomenon present in society / economy / business or industry. The
aim of this approach is to identify reasons behind the problem and suggest some
measures to solve the problem.
Another approach to identify a research problem is to take up an area where no
research has been conducted so far. This approach is mostly followed in
academic researches where the aim is to build or generalize a theory. Scholars
who aim to get Masters or PhD degree or want to publish their research , they
take up this kind of research.
 Defining the research problem is not to just give 2-3 line definition to the
problem. It is actually to break the problem as many small pieces as
possible. These small pieces will be called as the variables. In other words,
defining the research problem is to identify as many as variables as
possible, that might be affecting the research problem. To identify
variables researcher will have to initially follow exploratory research
approach I which Google search, expert opinion, case study become the
basis to choose the variables affecting the problem.
It is said, “Problem well defined is half solved”. It means if the variables
affecting the problem are identified half of the work of research is done,
only half is remaining. This true because variables identified will help in
setting the objectives of research and formulating the hypotheses of
research. The identified variables constitute the questions for the collection
of data. Hence, they become the basis for designing the questionnaire.
• Step 2- Review of Literature: Review of literature has got
two parts; review of concepts and theories related to research problem /
topic , and review of previous researches in the related areas. This step
actually feeds back the previous step as it helps in identifying variables
affecting the research problem. It will help not only in identifying the
variables but also help in finding the interrelationship between the
variables. So cause / independent and effect / dependent kind of
association would be proposed. Literature review also helps in proposing
hypotheses to be tested after data collection.
• Step 3 – Formulating the hypotheses: Hypothesis means
assumptions. A researcher is free to assume any thing about his / her
research problem / topic. These assumptions / hypotheses are tested
statistically at the data analysis stage of research. Every assumption /
hypothesis is first written as Null Hypothesis and Alternate Hypothesis.
 Null Hypothesis are the hypothesis of no difference which means there is
no difference between sample mean and the population mean. It means
sample represents the population or the sampling has all characteristics of
the population.
Alternate Hypothesis is the hypothesis of difference which means sample
mean is not equal to population mean, or sample mean is less than
population mean, or sample mean is more than population mean. If this
holds true, it means sample is not representing population characteristics.
When data are collected the hypotheses are tested using statistical tested
like Z-test, t-test, Chi-square test or ANOVA (F-test). Then hypothesis
may be accepted or rejected. Null Hypothesis is accepted, then Alternate
Hypothesis will be rejected and vice-versa.
• Step 4-Research Design (including sample design:
Research design means, structure, format or the approach of the research.
Broadly there are two approaches to research; first is exploratory and
second is conclusive. Exploratory research design happens to be very
flexible in nature as here the objective is to find as many variables as
possible. Conclusive research design is very rigid as here the objective is to
just reach to certain conclusions following research with known variables.
Sample is a representative part of the population on which research is
conducted. Sample design has got three components; (1) sample member
(sample unit). It requires identifying the people who would provide the
responses to the questions while collecting data. What are their
characteristics. Do they represent the population on which research is
aimed. They are also called respondents, (2) sample size: how many
persons are supposed to be consulted for data collection. (3) sampling
procedure: This the way of picking up sample members from a large
scattered population
• Step 5-Collection of Data: There are basically two types of
data; primary data and secondary data. Primary data are those which are
collected from the sample members / respondents using survey,
observation or experimentation. Whereas secondary data are those which
have already been collected by some body and have been published in
some newspaper, magazine, book, journal, website, etc. but are useful to
some other researcher.
Collection of primary data requires a set of questions that need to be
answered by respondents. Set of questions are derived from the variables
affecting the research problem identified at the first stage (defining the
research problem) of the research process. In data collection, all care is
taken so that all questions are answered with all honesty and sincerity.
• Step 6-Analysis of Data: Once data collection part is over,
coding, editing, and tabulation is done to organize data to be ready for
statistical analyses. If data are small, manual calculations will work. But if
large, data are analyzed with the help of software. Calculation part is taken
care of by software, only interpretation is needed on the part of researcher.
Researcher needs to know the concept and meaning behind the statistical
tools to be used while data analysis. Various tests for hypotheses
acceptance or rejection like Z-test, t-test, Chi-square test, ANOVA(F-test)
etc. are to be used here to accept or reject the hypotheses formulated at the
third step of research process.
• Step 7-Reporting the findings: One the data analyses are
done, researcher extract the findings and starts writing the research report
in a pre-decided standard format. Once the report is ready, it will be
submitted to the decision maker who aims at solving the problem or it may
be published as new knowledge in the subject of study.
 Defining Research Problem
A Few Cases
• Case 1(HR Problem) A company is facing the problem of high
attrition rate. HR management of the company is very worried due to this
problem. Apart from the waste of hiring and training costs, the productivity
is severely affected. Management wants to know the reasons behind this
problem. They hire you as a researcher to conduct the research and submit
the report to management highlighting the reasons behind the problem.
First of all, you are required to define this problem as a researcher.
Solution: To do this research, you are first required to review the literature
(review concepts & theories of attrition, and review the previous
researches related to attrition). Defining the research problem is actually
identifying variable affecting the research problem. Literature review help
researcher in identifying such variables. Having done the literature review,
following variables come out as relevant variables to proceed with the
research:
1. Working condition of the company are not good.
2. There is problem of instability in the company.
3. There is lack of professionalism in the company.
4. Attitudes of superiors are not good towards subordinates.
5. There is no participatory decision-making.
6. Salary is not competitive.
7. There is no reward and recognition system for the extra efforts.
8. There are no fringe benefits.
9. There is no sense of security among the employees.
10. There is policy of arbitrariness in the policies.
11. Employees are not provided with training from time to time.
12. Chances of promotion and growth are bleak.
 13. Competing companies are better managed and offer better
opportunities.
14. Salaries, incentives and fringe benefits in competing companies are
better.
15. Competitors are offering better growth prospects.
16. There is poaching in the industry.
17. Employees join the company just to gain the training and experience.
18. There is autocratic management style in the company.
19. The goodwill of the company is not good in the market.
20. Products of the company are not selling smoothly.
These may be the variables coming out of defining the research problem.
These variables will help in setting out of objectives of research,
hypotheses of research and questions for the questionnaire for data
collection
• Case 2 (Marketing Problem)The marketing management of Britannia
Biscuits is worried nowadays as the sales of its products are declining. They
do not know the reason behind the problem. They decide to get the research
done for the understanding of the problem thoroughly through the research.
They hire you as a researcher for the same. Your job is to do literature
review to defining the problem as a researcher to pick up relevant variables
to go with the research.
Having done literature reviews, following variables were identified out of
defining the research problem:
1. May be the quality of Britannia Biscuits has gone down.
2. May be prices of its products are not reasonable.
3. May be the same product is selling at different prices in different markets.
4. May be the advertising is not effective.
5. May be less frequent is the advertising.
6. May be the claims made in the advertising are not fulfilled by the products.
7. May be advertising is not appealing to attract new customers.
8. Sales promotional schemes are not there.
9. Retailers are not motivated to push Britannia products.
10. Competitors are offering better margin to retailers.
11. May be there is some unresolved conflict between distributors.
12. May be sales team is not efficient.
13. May be marketing is not effective.
14. May be competitors are offering better products at reasonable prices.
15. May be better substitute has come into the market.
In the above line of direction, many more variable might be identified from the
literature reviews.
• Case 3 (Finance Problem) A company is facing the problem of
working capital management. They are finding it hard to manage their day
to day expenses. The finance manager is not able understand the problem,
so they decided to take the help of researcher. Assuming yourself to be the
same researcher, define this problem as a researcher.
Following variables may come out of literature reviews:
1. May be there are huge amount of receivables of the company.
2. May be a lot of funds are blocked in inventory.
3. May be May be products are not selling at desired pace.
4. May be credit policy of the company is relax.
5. May be products are not fast moving so credit sale is larger than cash
sales.
6. May be cash management is not proper.
 7. May be inventory management is not proper.
8. May be faulty capital structure is there.
9. May be current liabilities are more than required.
10. May be expenses are not controlled.
11. May be principles of financial management are not properly followed.
12. May be foreign in-flow of funds are stuck.
13. May be there is financial irregularity.
14. May be there is instability in the company.
15. May be there is recession in the market.
These variables will help in setting out the objectives of research, formulating
the hypotheses of research and questions to investigate and collect data for
further analysis.