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What is a quantitative analysis approach? • Steps of the Quantitative Analysis Approach Defining the Problem: The First Step in the quantitative approach is to develop a clear, concise statement of problem . this statement will give direction and meaning to the following steps. In many cases defining the problem is most important and most difficult step. Developing a Model: An important part of the quantitative analysis approach is the modeling, model is a representation usually mathematical of the situation. Models can save time and money in decision making and problem solving. Acquiring Input Data: Once we have developed a model we must obtain the data that are used in the model (input data). Obtaining accurate date for the model is essential, improper data will result in misleading results. Collecting accurate data can be one of the most difficult steps in performing quantitative analysis. Developing a Solution: Developing a solution involve manipulating the model to arrive at the best optimal solution to the problem that is practical and can be implemented, this requires that an equation to be solved for the best decision. Solving equations is a common technique. Testing the Solution: Before a solution can be analyzed and implemented it needs to be tested completely because a solution depends on the input data and the model, both requires testing. Testing the input data and the model includes determining the accuracy and completeness of the data used by the model. Analyzing the Results: Analyzing the results starts with determining the implications of the solution. Implementing results often requires change in an organization, the impact of actions or changes needs to be studied and understood before implementation. Implementing the Results: The final step is to implement the results, this is the process of incorporating the solution into the organization. The optimal solution will hundred of Bahraini dinars and it will help the users manage dedicated time more efficiently
Business owners faced with tough decisions can use one or both of two general approaches to problem solving. The qualitative approach draws on a manager’s experience and expertise, which together hone keen business instincts concerning the likelihood of success. The quantitative approach is more formal. Using mathematical reasoning, a manager derives the solution on paper and puts it into practice.
Qualitative Approach
The qualitative approach requires experiential knowledge of the various factors involved in a decision. For example, to use the qualitative approach to solve a dispute over resources between two departments of an organization, the manager must understand the complex interplay of variables in that organization, such as the interpersonal connections among supervisors in each department and the overall availability of resources for which the two departments are competing. In simpler terms, the manager must have an intuitive feel for how decisions will play out given the nature of that organization, which can only come from direct, hands-on experience.
Quantitative Approach
Managers lacking direct experience can opt for a quantitative approach. The first step is to translate the problem into mathematical language. Accordingly, the quantitative approach works best for objectively measurable problems. For example, deciding how to distribute resources among many departments might begin with determining which departments are the most profitable and therefore most likely to generate more profits per unit of fresh resources. Based on this reasoning, the manager uses accounting data to construct a mathematical model, or formula, for resource apportionment.
Related Reading: How to: Qualitative Measures for Make-or-Buy Decisions
Faulty Models
Quantitative models can fail because a manager over- or underestimates, or entirely fails to account for, an important variable. For example, relying on the relative profitability of various departments to apportion resources doesn’t account for scalability. Some of the top-producing departments might be operating at peak efficiency; more resources won’t generate proportionally more profits because the employees simply can’t work any faster.
Monitoring
Illogic can cripple either approach, but the quantitative approach is more vulnerable because it relies so heavily on formal reasoning. Therefore, close monitoring of results is vital to verify the reasoning behind a quantitative decision. In contrast, managers using the qualitative approach likely have fair expectations for how their decisions will play out due to past experiences in similar situations.
Considerations
Use both approaches, if possible. Combining depth of experience with keen mathematical reasoning to make a tough decision offers a better chance of success than either would separately. Each element complements the other, creating maximally efficient and effective solutions to difficult problems.
Limitations to Qualitative Research Qualitative research often depends on techniques such as interviews and case-by-case analysis.
Qualitative research is increasingly common, particularly in the social sciences, as an alternative to quantitative research. While quantitative research focuses on numerically or statistically significant differences among populations, qualitative research often involves looking for "thick" and "rich" detail about a particular question, phenomenon, or group of people (Peshkin, 1997, quoted in Watt, 2007). Although it has gained increasing acceptance, qualitative research still has significant limitations. In particular, qualitative research can present challenges in terms of generalizable results, validity, wider implications and reliability.
Validity o
One limitation to qualitative research is that, especially to audiences accustomed to reviewing quantitative research, qualitative research may seem to be less than valid in its approach, methods, or conclusions. Qualitative research often depends on the individual judgment of the researcher and is heavily dependent on the researcher's interpretation (for example, in the analysis of interview data or case study information). Although this fact allows for research to reflect the complexity of a particular situation or the knowledge of the researcher, it can also allow the researcher's subjective opinions to bias the information presented or the conclusion drawn. In such cases, the study becomes more reflective of the researcher's opinions than of the actual data, presenting issues with validity.
Ability to Generalize Results o
One significant limitation of qualitative research involves the ability to generalize results to other populations. Because qualitative research is often exploratory and often tailored to the needs of one population (as when a researcher adapts an interview question to a participant's prior knowledge, or when case-study analysis is specific to the person or situation under study), it is difficult to extrapolate findings to more broad populations or to draw general or far-reaching conclusions from the findings of a qualitative study. For example, one might conduct a case study which finds that teachers at a particular school have all articulated a need for more training in technology. Although the findings might be valid for that particular school, it is impossible, from that single case study, to
draw a wider conclusion and state that all teachers, everywhere, need more training in technology. Your study, because it is so specific to that school, only indicates something about teachers at that school.
Wider Implications o
In the same way, qualitative research has limitations with respect to wider or broader implications. Because qualitative research is specific to one setting and is not generalizable, it is difficult or impossible to make broad, sweeping recommendations (such as recommendations for policy change) based on the outcome of the research. To use the example provided in the previous paragraph, one could not use a case study of a single school to formulate a broad policy recommendation to provide all teachers with increased technology training. Because qualitative research provides in-depth answers about one, very specifically defined individual or group, it does not provide assurance that findings can transfer across individuals or groups.
Reliability o
Similar to the challenges surrounding wider implications and generalizable results, qualitative research presents an additional set of issues involving reliability, or the ability to reproduce the study with consistent results. Because qualitative research heavily depends on the researcher's knowledge and interpretation, it is questionable that another researcher, replicating a qualitative study, would achieve the same results -- he might make different decisions about interpretation, might ask interview questions in a different way, or might even change the design halfway through the study, based on perceptions of the participants' needs. This variation can radically change the results of a study and can make study results inconsistent even if two studies have the same approach.
