Is Business Research and Research Methodology different things?
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Yes, business research and research methodology are different things, but they are closely related. Let’s briefly define each concept and highlight its differences.
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Business Research
- It is the process of gathering, analyzing, and interpreting information to help companies in making the best decisions at the right moment.
- It focuses on understanding market trends, consumer behaviour, competitors, and other factors that impact a business’s performance and growth.
- Examples of business research include market research, competitor analysis, and customer satisfaction surveys.
Research Methodology
- The systematic procedure and methods used to do research in any subject, including business research, are referred to as research methodology.
- It involves selecting appropriate research designs, data collection methods, and analytical tools to answer specific research questions or hypotheses.
- Qualitative research methods (e.g., interviews, focus groups), quantitative research methods (e.g., surveys, experiments), and mixed-methods research are examples of research approaches (combining qualitative and quantitative methods).
Yes both are different