Exploratory research is described as a type of research design in which research is conducted to learn more about a problem that isn’t well defined. It is carried out in order to gain a better knowledge of the current problem, but the results will not be conclusive. The goal of an exploratory research design is not to provide definitive answers to research questions, but rather to examine the topic in various depths.
This process however is very times consuming as the researcher has to look into the past documents for validity.
Ways to Design an Exploratory Research:
A researcher has a variety of approaches to choose from in order to conduct exploratory research such as;
- Surveys: Surveys and polls are used to collect data from a certain set of people. It is one of the most crucial quantitative techniques. To investigate perspectives, trends, and other topics, various types of surveys or polls can be utilized.
- Interviews: While public sources might provide a wealth of information, an in-person interview can provide in-depth information on the subject at hand. An interview with a subject area expert can supply you with valuable information that a broad public source cannot.
- Online research: This is one of the quickest ways to get knowledge on any issue in today’s environment. A great deal of information is easily available on the internet, which the researcher can access whenever he wants it.
- Case study research: A researcher can use case study research to acquire more information by carefully evaluating existing examples that have faced a comparable situation. These types of analyses are crucial, especially in today’s financial world.
Procedures to Perform in Exploratory Research:
- Find the Problem: A researcher chooses a study topic, and the problem is solved by using a variety of approaches to answer the questions.
- Create the hypothesis: When the researcher discovers that no past studies exist and the topic remains unsolved, the researcher will formulate a hypothesis based on the questions gathered throughout the problem identification process.
- Further research: When the researcher discovers that no past studies exist and the topic remains unsolved, the researcher will formulate a hypothesis based on the questions gathered throughout the problem identification process.
Features of Exploratory Research Design:
- It’s usually inexpensive, engaging, and open-ended.
- In order to do exploratory research, there must be no previous research or current research that does not provide a specific response to the problem.
- It is time-taking research that requires attention and comes with risks.
- The researcher will have to go over all of the data accessible for the study he is doing.
- The research must be significant or valuable. The research conducted is ineffective if the problem is not significant in the industry.
- The research should also contain a few hypotheses to back up its findings, making it easy for the researcher to evaluate it and continue forward with his investigation.
Significance of exploratory research:
When a topic needs to be thoroughly understood, especially if it hasn’t been done before, exploratory research is used. The purpose of such a study is to investigate the problem and the areas surrounding it, rather than to draw a conclusion from it. You can learn about all other types of research designs too in case if you wish to analyze which of those will be a good fit for your next research work.