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In common language research refers to any activity involving collection of data and facts for advancement of knowledge. However, in scientific studies such gathering of information is carried out in a systematic way and accordingly scientific research may be defined as carrying out a methodical study to establish the validity or otherwise of a hypothesis or answer a specific question.

Scientific research, including that in the field of business and Social Sciences, is systematic, following a fairly well established stepwise process, with the aim of generating measurable and testable data. Also all research must be accompanied by some kind of analysis of data leading to some interpretation and opinion by the researcher.

The significance of research in social and business sciences is quite similar to that in any field of scientific and methodical study. It provides experts and professionals in these fields new insights in to their specialized fields of knowledge and expertise.

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Q: What do you mean by research. Explain its significance in social and business sciences?
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