LibGuides: Business: Research Methods

Research Methods

Understanding research methods is essential for any business student. Whether you're analysing market trends, evaluating customer behaviour, or developing new strategies, a solid grasp of research will give you a competitive edge. This overview introduces you to different approaches and resources that will empower you throughout the research process.

Overview of Research Methods

Desk-based Research: Gain a comprehensive understanding of existing knowledge, theories, and research findings relevant to your business problem. Analyse academic papers, industry reports, and other published sources to identify gaps in knowledge and build a foundation for your own research.
Qualitative Methods: Dive deep into understanding customer motivations, perceptions, and experiences through methods like interviews, focus groups, case studies, and sentiment analysis.
Quantitative Methods: Analyse numerical data to uncover patterns, correlations, and trends using surveys, experiments, financial data analysis, and statistical modeling.
Mixed Methods: Combine qualitative insights with quantitative rigour to gain a more holistic understanding of complex business problems.

Selecting the Right Method

Research Questions: Your research question is your compass. Are you exploring customer opinions? Assessing the impact of a new product? Predicting market fluctuations? Your question will guide your methodological choices.
Research Goals: What are you aiming to achieve? Do you need to describe a market landscape, explain customer behavior, forecast sales, or evaluate the success of a campaign? Your goals will shape your research design.
Resources: Explore books, articles, and online platforms (e.g., Harvard Business Review, McKinsey, Statista) to learn more about various research methods and determine the best fit for your project.

Resources for Learning Research Methods

Library Search: Seek out books and ebooks on business research methods, market research, consumer behaviour analysis, and data-driven decision-making.
Library Guide: Explore the library's research guide on research methods.
LinkedIn Learning: LinkedIn Learning contains a wide range of videos and online courses on research design, data collection and analysis, and business intelligence.
Online Courses: Platforms like FutureLearn, Coursera and Udemy offer courses on research design, data analysis, and business intelligence.

Business research often relies on data analysis to understand market trends, consumer behavior, and operational performance. This section will equip you with essential knowledge about key data sources and tools for analysing business-related information.

Key Business Datasets

Market Research Data: Gain insights into consumer preferences, purchasing habits, and industry trends through market research reports from Mintel, Marketline, and Statista.
Financial Data: Analyse company financial statements, stock prices, and economic indicators using platforms like Bloomberg Terminal, FAME, or Yahoo Finance.
Industry-Specific Data: Explore data relevant to a specific industry. For example, for research into healthcare companies you might draw on data from the National Institute for Health and Care Research (NIHR) or the Centers for Medicare & Medicaid Services (CMS), while for retail businesses you could leverage data from the National Retail Federation (NRF).

Finding and Accessing Data

Business Databases: Access a wealth of market research, company profiles, and financial data through databases like Mintel, Marketline, and FAME.
Government Websites: Use data published by government agencies like the UK Office of National Statistics, or departments such as the Department for Business and Trade or the Department for Work and Pensions.

Data Analysis Tools and Software

SPSS: A widely used statistical software for analysing quantitative data.
NVivo: A qualitative data analysis software for organising and analysing interview transcripts, site visit observations, and other qualitative data.
R: A free, open-source programming language and software environment for statistical computing and graphics, suitable for both quantitative and qualitative analysis.
Excel: A versatile tool for basic data analysis, visualisation, and reporting.
Power BI: Powerful business intelligence platform for creating interactive dashboards and data visualisations.

As a sociology student, it's essential to be aware of ethical considerations in research and to maintain academic integrity.

Ethical Considerations in Sociological Research

Informed Consent: Ensure participants understand the purpose of your research, the procedures involved, and their right to withdraw at any time.
Confidentiality and Anonymity: Protect the privacy of your participants by keeping their information confidential and ensuring their anonymity in your research findings.
Potential Harm to Participants: Consider any potential risks or harms to participants, both physical and psychological, and take steps to minimise them.

Avoiding Plagiarism

Proper Citation and Referencing: Always give credit to the original authors of the ideas, theories, and data you use in your research. Use a consistent referencing style (e.g., Harvard) and cite all sources correctly.
Plagiarism Detection Software: Familiarise yourself with plagiarism detection software like Turnitin to check your work for unintentional plagiarism.

Resources for Ethical Research Practices

College Ethics Committee: Consult your college's ethics committee for guidance and approval before conducting research involving human participants.
University Policies and Guidelines: Review the university's policies on research ethics and academic integrity.
Library Guides: The library has a number of guides on research topics, including ethics, literature reviews, open access, and more.