Download as PDF, PPTX
Dr.TK-Business Research Methods -Data Analysis
The document discusses the importance of data collection and analysis in business research, emphasizing that accurate and relevant data is crucial for sound decision-making. It categorizes data into primary and secondary sources, detailing various methods of data collection such as observation, interviews, and surveys. Additionally, it highlights the advantages and disadvantages of using secondary data in research.
More Related Content
Similar to Dr.TK-Business Research Methods -Data Analysis
More from Madanapalle Institute of Technology & Science
Dr.TK-Business Research Methods -Data Analysis
- 1. BUSINESS RESEARCH METHODS UNIT 3 COLLECTIONAND ANALYSIS OF DATA Dr. THULASI KRISHNA. K, Ph.D. MITS School of Business, MITS – Madanapalle, A.P., India [email protected]
- 2. INTRODUCTION • Input ofinformation is a pre-requisite for any rational decision making. Research is no exception. • Whether it is a statistical investigation or solving a research problem, scientific collection of data with due regard to relevance, time, cost, accuracy and promptness of observations being recorded is to be given due consideration. Definition of Data • Data are facts, figures and other relevant materials, past and present serving as bases for study and analysis. • Ex: Data relating to loans secured by borrowers, quantity of raw material required, opinions of people on worth control devices etc.
- 3. IMPORTANCE OF DATA •The data serve as the bases for analysis. Without analysis of factual data, no specific inferences can be drawn on the questions and study. Inferences based on imagination or guess work cannot provide correct answers to research questions. The relevance, adequacy and reliability of data determine the quality of the findings of the study. • Data form the basis for testing the hypotheses formulated in a study. Data also provide the facts and figures required for constructing measurement scales and tables which are analysed with statistical techniques. Inferences on the results of statistical analysis and tests of significance provide the answers to research questions.
- 4. SOURCES OF DATA PrimarySources • The sources of data may be classified in to primary and secondary sources. • Primary sources: Primary sources are original sources from which the researchers directly collect data that have not been previously collected. • Ex: Collection of data directly by the researcher on brand awareness, brand preference, brand loyalty and other aspects of consumer behaviour from a sample of consumers by interviewing them. • Primary data are first hand information collected through various methods such as observation, interview, mailing etc. In this method, the researcher can collect the required data preciously according to his research needs, and he can collect them in the form in which he needs.
- 5. SECONDARY SOURCES • Secondary sourcesare data that already exists. There are several sources of secondary data, including books and periodicals, government publications of economic indicators, census data, Statistical Abstracts, data bases, the media, annual reports of companies, etc. • Financial databases readily available for research are also secondary data sources.
- 6. • Methods ofPrimary Data Collection • There are various methods of data collection such as observation, interviewing, mailing etc. • Observation • Observation involves gathering of data relating to the selected research by viewing and or listening. Observation may take place either in real life setting and laboratory.
- 7. Some examples ofobservation include: • A principal watching a teacher give a lesson to her class to judge her effectiveness as an educator • A scientist looking at a chemical reaction in an experiment • A doctor watching a patient after administering an injection • A parent watching her children interact with other children on the playground • An astronomer looking at the night sky and recording data regarding movement and brightness of the objects he sees
- 8. Types of Observation • StructuredObservation: The investigator should decide the data he needs. If the observation takes place as per his needs or objectives, it is called as structured observation. • Unstructured Observation: There is no careful definition of the unit to be observed and the information to be recorded; such an observation is un structured observation.
- 9. • Participant Observation:In this kind of observation, the observer is a part of the phenomenon or group which is observed and he acts as both observer and a participant. • Non-participant Observation: In this method, the observer stands apart and does not participate in the phenomenon observed. Naturally, there is no emotional involvement on the part of the observer. This method calls for skill in recording observation in a un noticed manner.
- 10. Interview • Interviewing isone of the major methods of data collection. • It may be defined as a two-way systematic conversation between an investigator and an informant, initiated for obtaining information relevant to a specific study. • It involves not only conversation, but also learning from respondent’s facial expressions and his environment. • The person doing interview is called as interviewer, the person who is interviewed is called as interviewee.
- 11. Importance of Interview • Itis the only suitable method for gathering information from illiterates or less educated respondents. • It is useful for collecting a wide range of data that includes person’s opinions, attitudes, values, beliefs, past experience and future intentions.
- 12. Types of Interviews • StructuredInterview: This is an interview made with a detailed standardized schedule. The same questions are put to all the respondents and in the same order. Each question is asked in the same way in each interview. This type of interview is used for large scale formalized surveys.
- 13. Unstructured Interview • Itis also called as Non-directive interview. This is the least structured interview. The interviewer encourages the respondent to talk freely about a given topic with a minimum guidance. • In this type of interview, a detailed pre-planned schedule is not used. Only a broad interview guide is used. The questions are not standardized and not ordered in a particular way.
- 14. Focused Interview • Thisis a semi-structured interview where the researcher attempts to focus the discussion on the actual effects of a given experience in which the respondents have been exposed. It takes place with the respondents known to have involved in a particular experience. Ex: Seeing a particular film, viewing a particular programme in TV involved in a train or bus accident. • The interview is focused on emotional responses regarding the situation under study.
- 15. Face to FaceInterview • In this type of interview, there is a face to face contact with the persons from whom the information is to be obtained. The information is obtained is first hand or original in character. It is also called as personal interview.
- 16. Telephonic Interview • Itis a non-personal method of data collection. It may be used as a major method and will be useful in the following situations- • When the study requires responses to 5 or 6 simple questions. Ex: Radio or TV programme services. • When the universe is compared of those persons whose names are listed in the telephone directories. Ex: Doctors, Business executives etc. • When the survey must be conducted in a very short period of time, provided the units of study are listed in telephone directory. • When the subject is interesting or important to respondents.
- 17. Panel Interview • Thepanel method is a method of data collection by which data is collected from the sample respondents at intervals either by mail or by personal interview. • This is used for studies on consumer behaviour, expenditure pattern, Economic conditions, Advertising and so on.
- 18. • Mail Survey •Mail survey is another way of collecting primary data. This method involves sending questionnaires to the respondents with a request to complete them and returned them by post or by mail. • This can be used in the case of educated respondents only. • The mail questionnaire should be simple, so that the respondents can easily understand the questions and answer them.
- 19. SECONDARY SOURCES Secondary sources are datathat already exists. Secondary data analysis involves a researcher using the information that someone else has gathered for his or her own purposes. Such data are cheaper and more quickly obtainable than the primary data and also may be available when primary data can not be obtained at all. There are several sources of secondary data, including books and periodicals, government publications of economic indicators, census data, Statistical Abstracts, data bases, the media, annual reports of companies, etc.
- 20. There are twosources for collecting the secondary data: • Internal sources • External Sources • Internal sources: Data available within the organisation such as sales data, employees’ expenses, stock details, marketing research reports, etc. • External sources: Data available outside the organisation such as census, periodicals, reports, newspapers, journals, etc
- 21. Advantages of Secondarydata • It is economical. It saves efforts and expenses. • It is time saving. • It helps to make primary data collection more specific since with the help of secondary data, we are able to make out what are the gaps and deficiencies and what additional information needs to be collected. • It helps to improve the understanding of the problem. • It provides a basis for comparison for the data that is collected by the researcher.
- 22. Disadvantages of SecondaryData Analysis • The biggest disadvantage of performing secondary data analysis is that the secondary data set might not answer the researcher’s specific research question to the degree that the research would have hoped. • If a researcher sets out to perform a study with a very particular question in mind, a secondary data set might not contain the precisely specific information that would allow the researcher to answer his or her question.
- 23. * Similarly, whena researcher has a specific question or goal in mind, it can sometimes be difficult to identify secondary data that is valid for use, as the data might not have been collected during the timeframe the researcher was hoping for, or in correct the geographical region, etc. * Another disadvantage is that no matter what a researcher does to vet a secondary data set, they will never be able to know exactly how the data was collected, and how well that process was executed.