If you took a straw poll in any lecture theatre about what people count as facts, the answers would be very different. Some would say statistics are factual. Others might say direct quotes from individuals are more reliable. Both are examples of an epistemology.
The most common types of epistemology used in business research are:
For example, if you believe in scientific truth you are likely to adopt a positivist or empiricist epistemology, where the validity of your experiment is proven on the basis of its results. In this scenario, another researcher conducting the same experiment must be able to produce the same results and you as the researcher will have no role in interpreting them.
On the other hand, if you believe that truths are socially constructed you would probably lean towards an interpretivist approach, which investigates and explores phenomena without testing or proving anything.