Meaning of Research Methodology
Research methodology simply refers to the procedure or plan of action for conducting a research. It defines techniques and tools used to collect, process and analyze data regarding the research topic.
Research methodologies tell the systematic method for acquiring data and studying it for deriving out crucial findings. This is an important process that helps in solving problems and making business decisions. It enables management for properly organizing their efforts in a right direction for generating an idea.
Methodology of research indicates and influences the overall validity and reliability of whole research to be conducted. Methodology answers mainly two questions regarding research that are how the data used for study was acquired and how it was analyzed to derive out the findings.
Research methodologies are broadly classified into two main categories: Quantitative research methods and Qualitative research methods. Quantitative research is one which is based on quantitative terms and involves collection of numerical data, analyzing it and drawing conclusions using numbers. Qualitative research on other hand, is one which is done using non-numerical and unquantifiable elements like feelings, emotion, sound etc.
Aims and Objectives of Research methodology
Develops better Insight into Topic
Research methodology provides better familiarity with the research topic by properly explaining each concept associated with it. It aims at the proper analysis of every aspect and accurately portrays all findings of the project.
Provides Systematic Structure
Research methodology eases the process of whole research to be done. It clearly defines the tools and techniques to be used for collecting, analyzing and interpreting the data to find out the solutions.
Enhance the Research Quality
It determines the reliability and validity of the whole research work. Research methodology tells accurate sources from where data should be taken for studying purpose which thereby improves the quality of research done.
Derive Better Solutions
Research methodology helps in deriving crucial findings for solving business problems. It performs an in-depth study of various projects, develops a better understanding and detects all problems.
Aids in Decision Making
Decision making is another important role played by research methodology. It supports management in organizing their efforts in generating a new idea. Research methodology by providing direction for various activities of the project helps managers for efficient decision making.
Inculcates logical and systematic Thinking
It develops the logical thinking ability of individuals. Research methodology evaluates every element of the project and highlights them in detail. It represents every aspect in a simplified manner which improves logical thinking.