Hi Yoganth,
There are two different methodologies that you can choose - qualitative & quantitative. This, of course, depends on your subject/field of study. For example, if you want to study some numbers/data & look at possible trends, then a quantitative methodology would be helpful. On the other hand, qualitative methodologies (grounded theory, phenomenology, etc.) are good when you are trying to understand experiences that a group of people have had, or if you are trying to prove/disprove a theory.
You can read more about research methodologies online:
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http://en.wikipedia.org/wiki/Research_methodology
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http://www.socialresearchmethods.net/
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http://gsociology.icaap.org/methods/
Please do not confuse 'methodology' with methods. Methodology is a combination of the type of ontology, epistemology & the paradigm that you employ.
So, if you see the reality around you as a simple matter and think that numbers are the best way to tell the tale, then go for a quantitative methodology.
Or, if you think that reality is contextual and changes as we even talk about it, and the best way to know is by letting yourself be a conduit or a bricoleur, then go for qualitative methodologies.
A great book to study various qualitative methodologies is: Handbook of Qualitative Research, Second Edition. Editors: Norman K. Denzin and Yvonna S. Lincoln
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http://tf-8&sa=X&oi=...t&cd=1
I'm sure there are other gurus here who are high on quant... so let's wait for them to comment :0)
Feel free to buzz me for any further details on qualitative research; I'll try to add my two cents!
Regards,
Anubhuti
Hope this is helpful...