Explain the differences between academic and business research approaches. 

Business and academic research differs in their purposes, how they collect information and what data is collected. The goal of academic research is to gain a deeper understanding of an issue in order for it to be scientifically discovered or furthered. The qualitative and numerical methods used in this type of research, including interviews, focus groups or surveys, allow for a deeper analysis.

Business research, on the other hand focuses more on gathering information that can be used for practical purposes like product development and market trends predictions. As such, this type usually relies heavily on quantitative techniques like polls and surveys to quantify user preferences or identify areas where changes need to be made in order for a company’s goals to be met. This type of data tends to be less stable, as it is heavily dependent on factors such as economic conditions that can change from time to time.