[Enter an engaging title]
Double-click or double-tap this to edit
Business Research
Business research is, at its core, a systematic process. Think of it as detectives working for a
company Business researchers collect, compile, analyze, and interpret data to give decision-
makers like managers the quality information they need to make the best possible choices.
Were not talking about casual observations here. Were talking about a rigorous, scientific
approach.
As Professor Durbala emphasized, this is not going to be a random decision it is a datadriven
decision which has been collected, compiled and analyzed very systematically, very
scientifically. Its a process requiring experience and a solid understanding of research
principles.
Two Types of Research: Basic vs. Applied
Theres a crucial distinction to understand:
Basic Research: This is all about expanding our knowledge base. It may not have an
immediate, practical application for a specific business problem. Think of academic studies
exploring consumer behavior trendsinteresting, but not directly solving a companys problem
today.
Applied Research: This is where things get really useful Applied research focuses on solving a
specific business problem. For example, a company wants to increase sales of a new product.
Applied research would involve investigating what marketing strategies are most effective for
that particular product and target market.
Double-click or double-tap this to edit
Business Research
Business research is, at its core, a systematic process. Think of it as detectives working for a
company Business researchers collect, compile, analyze, and interpret data to give decision-
makers like managers the quality information they need to make the best possible choices.
Were not talking about casual observations here. Were talking about a rigorous, scientific
approach.
As Professor Durbala emphasized, this is not going to be a random decision it is a datadriven
decision which has been collected, compiled and analyzed very systematically, very
scientifically. Its a process requiring experience and a solid understanding of research
principles.
Two Types of Research: Basic vs. Applied
Theres a crucial distinction to understand:
Basic Research: This is all about expanding our knowledge base. It may not have an
immediate, practical application for a specific business problem. Think of academic studies
exploring consumer behavior trendsinteresting, but not directly solving a companys problem
today.
Applied Research: This is where things get really useful Applied research focuses on solving a
specific business problem. For example, a company wants to increase sales of a new product.
Applied research would involve investigating what marketing strategies are most effective for
that particular product and target market.
