July, 2014 - PhD Thesis Bangalore

Correlation

Correlation is used to measure the degree of association that is there between two variables. Whenever the researcher is dealing with two variables, the talk is about simple correlation and when the involvement is of more than two variables. On the other hand, regression is used to explain the variations that happen in one variable. This is usually referred to as the changes made in the dependant variable by the independent variable. It helps to identify the nature of the relationship. It is not necessary that the independent variable in regression would be only one. They can be more than one also. When there is only one independent variable, we call it simple regression and when there is more than one variable, we call it multiple regression analysis.

Correlation helps in measuring the degree of association that is there between two or more variables. When the research is dealing with two variables, then the correlation applicable is simple correlation. When the involvement is of more than two variables then the subject matter moves towards multiple correlation. Correlation is largely of three types:

Positive Correlation: When the two variables X and Y move in the same direction, it is said that the correlation between the two is positive. If one variable increases the other variable also increases and likewise in the situation of one variable decreasing, the other one also decreases.
Negative Correlation: In the situation when the two variables X and Y move in the opposite direction, it is called as negative correlation. In the case when one variable increases and the other variable decreases or vice versa.
Zero Correlation: When the correlation between two variables X and Y is completely null or zero. The increase or decrease in Y is not dependent upon an increase or decrease in X.

If the correlation coefficient is equal to 1, the two variables are said to be positively correlated. If the coefficient of correlation is -1 the variables are said to be lying on a negatively sloped straight line

Factor Analysis

Factor Analysis has proven to be a very useful technique in the field of market research and analysis. Its various uses are: • It helps to make sense of a big data which has interlinked relationships • It helps to decipher relationships that have been hidden • It helps to surface up the underlying relationship … Continue reading “Factor Analysis”

Factor Analysis has proven to be a very useful technique in the field of market research and analysis. Its various uses are:

• It helps to make sense of a big data which has interlinked relationships
• It helps to decipher relationships that have been hidden
• It helps to surface up the underlying relationship that is there between tastes preferences of consumers where factor analysis is largely used.
• It helps in the condensing of the data
• It helps in correlating the data and draw conclusions from the gathered data.
• Helps in formation of the empirical clusters.

Types of Factor Analysis:
The larger use of factor analysis is for understanding the interpretation of data and analysing the underlying relationship that exists between variables and the other underlying factors. Factor analysis works beyond grouping responses and their types; on the other hand it segregates the variables and then groups them according to their co relevance.

Factor Analysis can largely be segregated into three categories, depending upon its varied use in the market.

• Exploratory Factor Analysis
• Confirmatory Factor Analysis
• Structural Equation Modelling

The exploratory factor analysis is used for the measurement of the underlying factors that have an effect on the variables in the data structure. This is done without any biased perspective and setting a pre-defined structure to the outcome. The second kind of factor analysis, which is the confirmatory factor analysis is used to confirm the correlation in the existing set of the factor that have been predefined and the different variables that affect these factors. The third type of factor analysis which is called the structural modelling hypothesises the relationship between a set of variables. It can be used for both exploratory as well as confirmatory modelling.

Factor analysis would yield accurate and beneficial results only when the expertise of the researcher is there in selecting the data and assigning it the attributes. Choosing of the correct factors so as to avoid a lot of overlapping in characteristics is also very important. If done in the right manner, factor analysis would assist in very critical decision making. It is particularly useful in consumer behaviour studies and it woyld help in product development, pricing segmentation, penetration, distribution, pricing and other important decisions.

Classification of Research Design

The research has a vast number of designs available for investigations of the research objectives. A lot of topologies can be adopted for their classification. The classification that is followed across the world and is the easiest to comprehend is the one that depends upon the objective or purpose of the research. There are largely … Continue reading “Classification of Research Design”

The research has a vast number of designs available for investigations of the research objectives. A lot of topologies can be adopted for their classification. The classification that is followed across the world and is the easiest to comprehend is the one that depends upon the objective or purpose of the research. There are largely two types of researches, Exploratory and Conclusive. The design options are separate for both of them.

Exploratory Research Design: The research design for exploratory research has the most lose structure. It has a very flexible approach and the investigation of the research has a more qualitative perspective.. Because of its not so concrete structure, the sample size does not represent much and may depend upon unstructured interviews.

The main reasons why an exploratory research is conducted are:

Defining and conceptualising the problem to be investigated.
Evaluation and exploring of the different opportunities available.
Providing support in the conceptualisation and development of the hypotheses of the study.
Putting in place the variables of the study and putting them into operation.
Try to figure out the relationship that may exist between the dependant and independent variable that have been identified for the study.
Explore all the external factors that may in some way have an impact on the research.

In a situation where the findings of the exploratory research are interesting and offer some vision, they may become the basis for a more concrete and structured research which would be able to establish the efficacy of different methods. Whatever may be the scientific orientation and objective of the study, in the case of exploratory research, the researcher is always able to establish methods and techniques that can be adopted for doing exploratory research. These methods and techniques could vary from secondary data sources, observations both structured and unstructured), Delphi techniques, focus group discussions with the chosen group of respondents. All these methods and techniques have their own relevance and significance that can be put to use at different times during the course of the exploratory research. Thus, it can be said that this type of research is the most simplest to administer with the most advantageous results.

Scope of the Study

Any time that a task of doing a research is to be undertaken, the essential guideline is to define explicitly the scope of the study. The question here is that how many students or researchers understand what is to be included in the scope of the study and what is the significance of the same. … Continue reading “Scope of the Study”

The scope of the study basically means all those things that will be covered in the research project. It defines clearly the extent of content that will be covered by the means of the research in order to come to more logical conclusions and give conclusive and satisfactory answers to the research.

The scope of the study has to be defined at a preliminary stage and that is very important. It cannot be done in the later phase of doing the research as it creates a lot of ambiguity about the research goals. If the researcher fails to define the scope at the initial stage itself it is indicative that the research would eventually not meet the expectations set by the dissertation committee.

A thorough understanding of the field of the study is very important so as to know specifically what the requirements from the research are. It is imperative for the writer/researcher to have unquestionable research and writing skills. In order to acquire high level of research and writing capability, to begin with, the researcher should seek the advice of the experts and thoroughly read papers written by other researchers.

In order to write a comprehensive and valuable scope, all the important things to be included are the outline of the limitations of the study, the specifications about the data that has been used for research and the various theories that have been put to use in the research to interpret the data. More than often, the scope of the study is included longer essays and the research reports, dissertations and thesis. The importance of the scope of the study is such that it explains the reasons why a certain kind of data has been excluded from the research.

In a typical situation when the research has been conducted on a kind of historical event or different key events in the past then the researcher needs to inform the readers that the scope of the study is confined to these events only and not more.