LIIFE

Research Centre – Research & Development

LIIFE research centre is the hub for research and development, where it undertakes research and development projects in the area of social science, fintech and Islamic finance services, based on the market needs.

Research can be broadly categorized based on its purpose, methodology, approach, and application. Below is an overview of various types of research:

A. Based on Purpose

• Basic (Pure) Research: The objective is to expand knowledge without immediate practical application. Example: Studying the properties of a new material.
• Applied Research: The objective is to solve specific practical problems. Example: Developing a vaccine for a disease.
• Action Research: The objective is to address immediate issues within a specific context. Example: Improving teaching methods in a classroom.
• Exploratory Research: The objective is to explore a topic or phenomenon with limited prior knowledge. Example: Investigating consumer preferences for a new product.
• Descriptive Research: The objective is to describe characteristics of a population or phenomenon. Example: Conducting a survey on social media usage patterns.
• Explanatory Research: The objective is to explain the causes or effects of a phenomenon. Example: Analyzing the impact of climate change on crop yields.

B. Based on Methodology

• Qualitative Research:
  • Focus: Understanding concepts, experiences, and behaviors.
  • Methods: Interviews, focus groups, case studies.
  • Example: Studying cultural attitudes toward health practices.
• Quantitative Research:
  • Focus: Measuring variables and analyzing numerical data.
  • Methods: Surveys, experiments, statistical analysis.
  • Example: Assessing the effectiveness of a marketing campaign using sales data.
• Mixed-Methods Research:
  • Combines qualitative and quantitative approaches.
  • Example: Evaluating a programme using both statistical outcomes and participant interviews.

C. Based on Data Collection Methods

• Survey Research: Collects data through questionnaires or interviews. Example: Public opinion polls on government policies.
• Observational Research: Studies subjects in their natural environment without intervention. Example: Observing wildlife behavior.
• Case Study Research: In-depth examination of a single subject or case. Example: Analyzing a successful business model of a company.

D. Based on Application

• Industrial Research: Focuses on developing new products or improving processes.
• Market Research: Studies market trends, competition, and consumer preferences.
• Policy Research: Aims to inform and evaluate public policies.
• Educational Research: Studies teaching methods, learning processes, and curriculum development.