El Guero,
Here is quick synopsis of inductive Bible study.
Instead of studying resources about the Bible, inductive study focuses first upon the Bible. You need to be willing to lay aside your preconceived notions, pet interpretations, ready references, study notes, sermon tapes, etc., and approach the Scriptures as if for the first time. Your primary resource is God's Word, then other secondary resources. The tendency for many Bible students at the beginning of a study is to collect secondary resources that will do the "observing" and "interpreting" for the reader. It's quick but is it correct? How can you know if you don't make your own independent observations and arrive at your own interpretation based on those observations? Why even go to the Scriptures if you almost immediately forget what you've just read? Research shows that we learn more and retain more the more actively we are involved in the learning process. I know this to be certain in my own studies, both Christian and professional endeavors.
Here's an example of what I am talking about.
If you wanted to learn about frogs, you could go to the library and check out a book entitled "The Life of Frogs" or you would go to your favorite search engine and type in "frog's life." But how would you know that the so-called frog expert had really given you an accurate interpretation of a frog's life? You wouldn't if you relied solely upon that one source. On the other hand, you could go to a nearby pond, sit by the water's edge and begin to observe and write down what you observed about the local frogs - how they gathered food, what they liked to eat and not eat, where they liked to sit, how they mated, where, when and how they laid their eggs, what transpired when the eggs hatched, and how long it took tadpoles to grow into adult frogs. Then you could take one of the frogs back home, dissect him and observe how he was constructed in great detail, even observing the interrelationships of the innermost parts under a dissecting microscope.
Practically speaking, reading a reference by a "frog expert" is a lot easier. Besides, you could glean the frog facts in a fraction of the time it would take you to perform your own observations of the frog's life cycle. What's the point? In the first method, you might remember what you read for a few days, but with the second method you'd likely be able to recall your observations months, even years later. Which method provides the potential for the joy of self discovery? Which method "costs" the most (in time and effort)? I'm sure you can see the clear distinctions between these two methods.
In terms of Bible study, you can study someone's else's study or you can study the Scripture for yourself. The inductive method provides you with the skills and familiarity with the tools which make it possible for even beginning students (and even children) to confidently study the Scriptures on their own. This method of study can be used regardless of the area you study.
In a nutshell, that what inductive study is all about. Finding out the truth for yourself. In everyday life, you can certainly see the broad spectrum of beliefs that are posted on this website that come from the same Scripture passage. Why do you think that is? Because people want instant knowledge without the work.
That ties in with my studies at Andersonville. I did what I thought was best with the information I had at the time. If I just wanted a degree, I could have bought one online, but I wanted the education. I know having a degree does not make one knowledgeable, but unfortunately, many churches will not even look at you if your background doesn't include a graduate degree.
As I approach retirement, I have been keeping an eye on ministry placement websites. I have found some pretty distubing things. For example, I looked at a church's posting that is looking for a pastor. The qualifications included: five years experience as a senior pastor and a master's degree from an accredited SBC seminary. The church size was 50 people. I'm not saying the Lord won't provide for that church, but I wonder what some churches are thinking. It seems more and more, churches are seeking highly qualified people but are not willing to pay them accordingly. Mind you, I am definitely not entering the ministry to get rich, but you've got to feed the family.
I'm trusting the Lord to provide the right opportunity for me and my family.