In: Accounting
Discuss the methods for obtaining data. Describe each method.
Data collection or obtaining is a systematic method of collecting and measuring data gathered from different sources of information in order to provide answers to relevant questions. An accurate evaluation of collected data can help researchers predict future phenomenon and trends.
Methods of collection or obtaining data:
The most commonly used methods are: published literature sources, surveys (email and mail), interviews (telephone, face-to-face or focus group), observations, documents and records, and experiments.
1. Literature sources
This involves the collection of data from already published text available in the public domain. Literature sources can include: textbooks, government or private companies’ reports, newspapers, magazines, online published papers and articles.
2. Surveys
Survey is another method of gathering information for research purposes. Information are gathered through questionnaire, mostly based on individual or group experiences regarding a particular phenomenon
3. Interviews
Interview is a qualitative method of data collection whose results are based on intensive engagement with respondents about a particular study. Usually, interviews are used in order to collect in-depth responses from the professionals being interviewed.
4. Observations
Observation method of information gathering is used by monitoring participants in a specific situation or environment at a given time and day. Basically, researchers observe the behaviour of the surrounding environments or people that are being studied.
5. previous documents and records
This is the process of examining existing documents and records of an organisation for tracking changes over a period of time. Records can be tracked by examining call logs, email logs, databases, minutes of meetings, staff reports, information logs, etc.
6. Experiment
Experimental research is a research method where the causal relationship between two variables are being examined. One of the variables can be manipulated, and the other is measured.