Methods of Analysis for Research: Research Choice, Philosophy, Approach, Data Collection, Sampling, and Analysis

Methods of Analysis
1

TABLE OF CONTENT
CHAPTER 3: METHODS OF ANALYSIS....................................................................................3
Research choice...........................................................................................................................3
Research philosophy....................................................................................................................3
Research approach.......................................................................................................................4
Data collection.............................................................................................................................4
Sampling......................................................................................................................................5
Data analysis................................................................................................................................6
REFERENCES................................................................................................................................7
2

CHAPTER 3: METHODS OF ANALYSIS
Research choice
Research choice can be known as research type that is the most important elements of
research methodology. Before selecting research philosophy and type of data collection,
researcher needs to select research type. Further elements rely on selected research type. In
regard to research type, it can be said that it refers a form in which scholars collect data such as:
qualitative and quantitative (Thomas, Zisman-Ilani and Salzer, 2019). Qualitative research study
is the one in which researcher collects data in non-numerical as well as feelings form. Whereas,
quantitative research type is the one in which researchers collect numerical and statistical based
data. For this research study, researcher has selected quantitative as it is believed that by
collecting data in statistical manner, they can take better decision and can identify actual
situation in regarding research topic.
Other reason of selecting quantitative research type is to generalise results from sample
group to an entire group of people. It is found that quantitative research study provides
researchers with the ability to draw conclusion and make an educated decision on a course of
action. In regard to its effectiveness, it can be said that quantitative research is scientific,
relatable, fast and focused and these all are reasons of selecting this research type for this study.
By conducting quantitative research, scholar can know facts regarding research topic.
Research philosophy
Research philosophy is one of the important elements of research methodology that refers
beliefs as well as assumptions in which researcher is being encouraged to conduct study.
Researchers have 2 beliefs in regard to collect data relevant to research topic and these 2 beliefs
are known as positivism and interpretivism. As per the interpretivism, researcher believes that
individual within society plays a vital role as they are the one who shapes behaviour of society.
Whereas, positivism researcher believes that societies have power to shape individuals’
behaviour (Green, 2021). For this research study or for collecting data regarding impact of digital
currency on finance and accounting, researcher has selected positivism research philosophy.
The reason behind selecting this philosophy is its association with quantifiable
observations and information. It is stated that this study is quantitative so, for collecting such
statistical information, researcher requires collecting information as per this positivism belief. In
3