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Unit V Data Collection for Business Research Mcom sem 4 Delhi University

Unit V Data Collection for Business Research MCOM sem 4 Delhi University:- we will provide complete details of Unit V Data Collection for Business Research MCOM sem 4 Delhi University in this article.

Unit V Data Collection for Business Research Mcom sem 4 Delhi University

Data collection is the process of obtaining and organizing primary and secondary data; data analysis is the use of tools to establish patterns and relationships in collected data by discursive or statistical means.

Your objectives when collecting data should be

  • To obtain original data first-hand through a number of methods where you communicate directly with one or more people who are the source of the required information (primary data)
  • To collect and organise in original ways data obtained by others in sources such as financial reports and articles produced by and about the businesses in question (secondary data)

Methods of obtaining primary data include

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  • observations
  • questionnaires
  • interviews
  • conversations
  • written exchanges electronically and in letter form between you and respondents

You should also collect secondary data produced within and about the organizations being studied. This data will have been collected and used for purposes other than those of your project, so the challenge is for you to sift, select and sort the data in ways that match your research aims. Sources of secondary data typically comprise:

  • reports and accounts of the subject organizations
  • publications put out by them, including publicity material
  • reports about them written by business analysts and other academics
  • general internet data (with suitable caution in selecting reputable sources)

You can obtain statistical data from a wide variety of public and private sources, although your choices will be easier to validate and explain if they are from large international organizations such as the World Bank or the Organisation for Economic Cooperation and Development (OECD).

In terms of data analysis, you can analyse primary and secondary data by drawing on established analytical tools. Different analytical tools may be used for different research methodologies. For example, as qualitative research mainly involves textual analysis of orally communicated data, analytical tools may be drawn from discursive methods, including narrative analysis, to study speech in the recorded text. Sophisticated data analysis software such as Nvivo-9 may be used for particular qualitative data analysis functions like coding and thematic analysis.

Statistical analysis in both qualitative and quantitative research may draw on a range of elementary and advanced tools to test relationships between variables. Selection of suitable statistical tools depends on the complexity of the relationships between variables that are being tested, although in your project elementary statistical tools will usually suffice for data analysis.

Larger datasets, for example of financial data, are often analysed with software programs like SPSS (Statistical Package for Social Sciences) that can apply both elementary (F and t-tests, ANOVA) and advanced (multivariate regression analysis, forecasting) statistical tools.

Drawing on a range of statistical techniques can increase the sophistication of findings in your project, where selected techniques should directly test specified hypotheses.

Unit V Data Collection for Business Research Mcom sem 4 Delhi University:-Data Collection

Data collection can be divided into two categories – secondary and primary.

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Secondary data collection

Secondary data is a type of data that has already been published in books, newspapers, magazines, journals, online portals etc. There is an abundance of data available in these sources about your research area in business studies, regardless of the nature of the research area. Therefore, application of appropriate set of criteria to select secondary data to be used in the study plays an important role in terms of increasing the levels of research validity and reliability.

These criteria include, but not limited to date of publication, credential of the author, reliability of the source, quality of discussions, depth of analyses, extent of contribution of the text to the development of the research area etc. Secondary data collection is discussed in greater depth in Literature Review chapter.

Primary Data Collection

Primary data collection methods can be divided into two groups: quantitative and qualitative.

Quantitative data collection methods are based in mathematical calculations in various formats. Methods of quantitative data collection and analysis include questionnaires with closed-ended questions, methods of correlation and regression, mean, mode and median and others.

Qualitative research methods, on the contrary, do not involve numbers or mathematical calculations. Qualitative research is closely associated with words, sounds, feeling, emotions, colors and other elements that are non-quantifiable.

Qualitative studies aim to ensure greater level of depth of understanding and qualitative data collection methods include interviews, questionnaires with open-ended questions, focus groups, observation, game or role-playing, case studies etc. Your choice between quantitative or qualitative methods of data collection depends on the area of your research and the nature of research aims and objectives.

Unit V Data Collection for Business Research Mcom sem 4 Delhi University

Data Collection in Marketing Research is a detailed process in which a planned search for all relevant data is made by researcher.

Types of Data

  1. Primary Data- Primary data is the data which is collected first hand specially for the purpose of study. It is collected for addressing the problem at hand. Thus, primary data is original data collected by researcher first hand.
  2. Secondary data- Secondary data is the data that have been already collected by and readily available from other sources. 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.

Data Collection Methods

  1. Qualitative Research- Qualitative Research is generally undertaken to develop an initial understanding of the problem. It is non statistical in nature. It uses an inductive method, that is, data relevant to some topics are collected and grouped into appropriate meaningful categories. The explanations are emerged from the data itself. It is used in exploratory research design and descriptive research also. Qualitative data comes into a variety of forms like interview transcripts; documents, diaries and notes made while observing. There are two main methods for collecting Qualitative data
    1. Direct Collection Method-When the data is collected directly, it makes use of disguised method. Purpose of data collection is not known. This method makes use of-
      1. Focus Groups
      2. Depth Interview
      3. Case Study
    2. Indirect Collection-Method
      1. Projective Techniques
  2. Quantitative Research- Quantitative Research quantifies the data and generalizes the results from the sample to the population. In Quantitative Research, data can be colleted by two methods
    1. Survey Method
    2. Observation Method

Unit V Data Collection for Business Research Mcom sem 4 Delhi University

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