Fetching details from the dictionary...

direction; way; side; area (in a particular direction)
side (of an argument, etc.); one's part
type; category
field (of study, etc.)
indicates one side of a comparison
way; method; manner; means
length (of each side of a square)
南の方に大きな海がある。
There is a large sea to the south.
こちらの方が安いです。
This one is cheaper.
こちらの方が安いと思う。
I think this one is cheaper.