The main difference between inductive and deductive approaches to research is that whilst a deductive approach is aimed and testing theory, an inductive approach is concerned with the generation of new theory emerging from the data.
A deductive approach usually begins with a hypothesis, whilst an inductive approach will usually use research questions to narrow the scope of the study.
For deductive approaches the emphasis is generally on causality, whilst for inductive approaches the aim is usually focused on exploring new phenomena or looking at previously researched phenomena from a different perspective.
Inductive approaches are generally associated with qualitative research, whilst deductive approaches are more commonly associated with quantitative research. However, there are no set rules and some qualitative studies may have a deductive orientation.
What you have labeled "deductive" in your approach is actual "abductive" -- which is defined according to developing a theory from observation. In contrast, deduction begins with a theory and predicts what one should observe in order to test that theory.
Difference between Inductive and Deductive Approach:
Deductive reasoning depends on facts and evidence; inductive reasoning looks at patterns.
Deductive reasoning provides solid, repeatable conclusions. Inductive reasoning makes general, most probable conclusions about evidence that has been observed.
Inductive reasoning may not always have strong conclusions on the validity of its hypothesis. Deductive reasoning will always have strong conclusions as to whether the premise is valid or invalid.
Deduction moves from idea to observation, while induction moves from observation to idea.
Deduction moves from more general to more specific, while induction moves from more specific to more general.
Deductive arguments have unassailable conclusions assuming all the premises are true, but inductive arguments simply have some measure of probability that the argument is true—based on the strength of the argument and the evidence to support it.
The main difference between inductive and deductive approaches to research is that inductive approach is concerned with the generation of new theory emerging from the data, where as deductive approach starts with a statement or hypothesis and then tests to see if it’s true through observation.
There are many differences between inductive and deductive approaches. A deductive approach is aimed and testing theory, while an inductive approach is concerned with the generation of new theory emerging from the data.