There are many definitions available for quantitative research distributed by different authors. Aliaga and Gunderson (2002) have described the quantitative research methods very well. Relating to them "Quantitative research is an inquiry into a sociable problem, describe phenomena by gathering numerical data that are analysed using mathematically structured methods e. g. in particular statistics". Based on the Creswell (2003) researcher generally uses post-positivist approach to develop knowledge when quantitative research is decided on (i. e cause and impact thinking, use of dimension and observations, and test of theories), uses strategies of inquiry such as experiments and surveys, and collects data on predetermined devices that yield statistical data.
Qualitative Research
Bryman and Bell (2007) explained that qualitative research is a study strategy that implies the relationship between theory and research and usually emphasizes on how theories were made. As a research strategy qualitative research is inductivist, constructionist, and interpretivist, but qualitative researchers always don't subscribe to all three of these methods.
Quantitative research is implemented as a research technique for this dissertation. Quantitative research method is implemented because it allows the researcher to get the reality rather than abstract about the purpose of dissertation (Bryman and Bell, 2007). According to Matthews & Ross (2010) quantitative research methods are fundamentally put on the collection of data that is set up and that could be displayed numerically. Generally quantitative data is accumulated when researcher has followed the positivist epistemological way and data is collected that may be scientifically analysed.
Fellows and liu (2008) said that quantitative research methods are usually adopted because they're scientific methods and provide immediate results. Other reason behind selecting this approach is that it is more efficient, can test hypothesis and always targeted at clarifying features, matter them and build statistical models to describe what is discovered during research. In contrast qualitative research is mainly found in disciplines where target is on reason and information such as sociology, interpersonal anthropology and psychology alternatively than on predictions (Hakim 2000).
Furthermore Berg (2004) argued that quantitative research is usually given more esteem and acceptance reflecting the tendency of general public to regard knowledge as it uses medical methods and implying precisions. Compared qualitative research requires higher time, more clarity of goals during placing the research design, and can't be measured or analysed by using computer programs. Many authors say that qualitative research methods and analytic strategies can't be associated with high tech society in the ways quantitative research approach could be.
Approach to data and research epistemology
The choice of research method is influenced by my epistemological stance: positivist which implies a cause- impact approach based on measurements (Bryman and Bell, 2007). Cameron and Price (2009) stated that the decision of data collection strategy is always influenced by the individual's philosophical personal preferences. Matching to Remenyi and williams (1992:32) if the study philosophy reflects the guidelines of positivism then the researcher will most likely take up the philosophical stance of natural scientist, favor dealing with observable social actuality and the finish product of such research can be law-like generalization much like those produced by the physical and natural scientists. Gill and Johnson (2010) argued that under the aspect of positivism researcher presume the role of a target analyst, making detached interpretations about those data which may have been gathered in a value free manner.
Survey methodology will be used to collect data for the purpose of this research as the task of Saunders (2003) has been very valuable in orienting the decision of data collection method for this study. Zikmund (2003) identified survey as a method of gathering primary data based on communication with a representative sample of individuals. Usually the type of information obtained in surveys differs considerably, depending on a survey's targets and typically study investigations attempt to describe what is happening and reasons for particular business activity. The purpose of this research is to evaluate the consumer frame of mind towards internet banking and matching to Saunders, Lewis and Thornhill (2003) study methodology is the best way to measure attitudes and to describe behavioural patterns.
Due to time constraints and lack of finances only review methodology will be used to collect data.
According to Groves, Rose and Couper (2003) from more than past 25 years survey methodologies established many new ways of collecting review data like personal given questionnaires, personal interviews, door to door interviews, cell phone interviews etc. , but To accumulate data with regards to the dissertation question; "Impacts of internet on banking industry in UK by analysing the buyer attitude towards it in Preston" questionnaires will be used to collect data as employed by academics like Oppenheim (2000). The primary reason for choosing the questionnaires as the predominant research method is basically because questionnaires are a sensible way of collecting a sizable level of first-hand major data. The benefit for collecting data through questionnaire is the fact data will be up-to-date. Academics such as Pikkarainen et at (2004) conducted 427 questionnaire that have been sent to respondent by post where 268 were came back demonstrating 63% response rate. This shows questionnaires are a good research solution to use when gathering a big amount of data.
Another benefit of using questionnaire as a data collection method is they are simply a safe way of gathering data as they require a little engagement from the researcher. They are simply less hazardous to carryout than other research methods such as participant observation as the exchange is briefer and completed in a safe, general public environment. Furthermore questionnaire enables hypotheses to be analyzed, correlations to be identified and self-explanatory descriptive data to be obtained (Bryman and Bell, 2007).
Selltiz et al (1981) argued that questionnaires are convenient for the respondent to complete, cheap and are a comparatively easy research method to put into practice when gathering first hands key data.
However there are specific downsides of using questionnaires as a study method. How questions are simply just worded can be critical in the replies that are obtained. Sometimes questions can be ambiguous and therefore respondents can interpret them in different ways. Respondents may well not understand what is being asked of these consequently resulting in inaccurate and invalid data (Bryman and Bell, 2007). Furthermore, bias may be there in the words utilized by the researcher e. g. loaded terms thus the validity of the data gathered can be questioned.
Another disadvantage of using questionnaires as research methods on the whole is the fact that respondents might not exactly answer questions truthfully. They could just respond using what they think the researcher would like to listen to. Others may lie to conceal their true responses or for impression management. Thus the validity and precision of the info obtained out of this research method may be debatable.
Furthermore, Bryman and Bell (2007) argued that in a few questionnaires the replies the participants may choose to give may not be provided or might not exactly accurately express their internet bank habits. Thus it can be difficult to check a hypothesis and make inferences about the overall population.
In this proposal, 80 questionnaires will be sent out. The reason for choosing this test size is due to time constraints in data collection and data analysis. Within this research you can argue is an example size of 80 sufficient to get conclusions from? However, even though the sample size is merely 80, the goal is to get representative data of the Preston people most importantly. If additional time, money and resources were available may be a larger sample might have been sought to symbolize UK.
All respondents will be determined at random with a view to gather representative data of the populace from which generalisations can be produced. Dillman (2000) argues that by this process a wide range of opinions can be achieved. 50 % the questionnaires will be targeted at random man respondents and the other half at random woman respondents so that conclusions can be drawn regarding gender and internet bank habits.
A criticism however of performing the research in this manner is depending after your day and time it is conducted could end result in different replies being obtained. Therefore to be able to gain a more valid information into consumer internet bank patterns, the questionnaire will be conducted at differing times throughout the day e. g. 5 in the morning, 5 at lunchtime and 5 at night.
The questionnaire will comprise of 10 questions and the sort of questions which will be found in the questionnaire will consist of both open up and closed-ended questions. (Make reference to Appendix 1). The questionnaires are being organised this way so the strengths of 1 questioning technique balance out the weaknesses in the other. Grummitt (1980) specifically used available concluded questions in his research because the info made from them was useful and insightful. By following Grummit's method and using open ended questions will allow the respondents the opportunity to elaborate and exhibit their own opinions and views. Also by using this questioning strategy will cause responses with increased validity and in-depth details. Further, by using open finished questions in the questionnaire it will allow qualitative data to be obtained that will identify and explore the respondents' thoughts and behaviours in relation to online banking.
Despite the advantages of using open concluded questions, there are however some downsides to consider. DeVaus (2002) says the replies can be time-consuming to analyse and sometimes respondents can set off subject matter with irrelevant information. Furthermore, some respondents can be daunted and could miss out questions thus leading to lacking data. Also replies can be ambiguous and difficult to quantify. Therefore scheduled to varying reactions maybe it's difficult to form definitive conclusions from open-ended questionnaire replies.
In using closed-ended questions respondents can simply tick or mix in a field to indicate their replies thus data can be accumulated relatively easily with little time and effort. Applying this questioning technique in the questionnaire will generate quantitative data that could then easily be illustrated in graphs to identify any patterns or movements and make comparisons in consumer behavior. Also with closed-ended questions responses can be interpreted and quantified quickly as respondents receive a variety of options to choose from. Subsequently, the utilization of closed-ended questions will cause responses of increased reliability as mentioned by Marshall and Rossman (1999), as respondents can simply reveal their reactions from pre-determined answers.
However the disadvantages of using closed-ended questions is the fact that they don't permit the respondents to explore and develop their responses, thus leading to difficulties in calculating what is exactly being said by the respondents.
Also the responses lack rich in-depth aspect because respondents are restricted in their answers and cannot justify their replies. Furthermore vital information can be missed out as the answers the respondents want to give might not exactly be provided in the list.
As a result of the huge benefits and drawbacks of every question type, a blend will be utilized. By doing this, data will be produced that is both reliable and valid and will enable conclusions to be drawn.
Appendix 1 shows the layout and structure of the questionnaire. By building the ten questions this way allows us to assemble the required data to be able to gain an improved knowledge of online bank. The first question was created to enable us to identify if there are any gender variations with online banking patterns. Questions three and four will set up how popular internet banking actually is and how often customers utilize this service; this will indicate how loyal the respondents are towards this service. Questions six and seven will identify how confident respondents are in using internet bank and if indeed they have have you ever been a sufferer of online fraud. Question eight should show how satisfied and easy internet bank is designed for respondents to work with. Question nine will help us to determine respondents' tastes with bank online, and lastly question ten will identify and understand the likelihood of changing consumer banking habits in the future.
