The survey method of research means asking people a series of questions, and then make a conclusion from there. The conclusion of the research would be based on the answers given by the people. By using this method, the researcher could directly find out what his or her sample thinks of the situation the researcher is trying to find out. This also means that the researcher loses out in experiencing what is happening in setting because his or her results are mostly due to the samples he or she has.
The participant observation method of research means that the researcher observes what is happening in a research setting himself by participating in it. He or she will see and understand what is happening by spending time, and even interact with the targets of his research. His conclusions is based on his own opinions and experiences of the situation.
I think this could produce better and more accurate results but this also means that the results are coming from a one-person experience. The survey method instead, is based on the experiences of many people.