Scientific Method

The other day, my good friend Dhruv and I were discussing how modern discoveries are being made in science. Here's the algorithm -

1. Observe some aspect of the universe.
2. Form a hypothesis to explain the observed phenomenon.
3. Test the hypothesis by matching it against other observations.
4. Develop a theory that is consistent with what you have observed.
5. Use the theory to make predictions.
6. Test those predictions by experiments or further observations.
7. Modify the theory in the light of your results.
8. Go to step 5 ...