From the course: Improving Decision-Making as a Business Analyst

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Quantitative analysis: Best practices and pitfalls

Quantitative analysis: Best practices and pitfalls

From the course: Improving Decision-Making as a Business Analyst

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Quantitative analysis: Best practices and pitfalls

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- [Presenter] Quantitative analysis is a research approach that uses mathematical and statistical methods to collect and analyze data. The biggest benefit is that it's often seen as more objective than qualitative methods because it relies on numerical data and statistical analysis which can be more easily replicated and validated, plus it leverages statistics that can be used to make more accurate predictions and decisions. You've probably seen this most frequently in the form of financial or data analysis, both of which we'll explore in more details in the next video. One huge advantage of quantitative analysis is that it can allow you to generalize findings. This means it can be a more efficient and cost-effective approach than qualitative methods, especially when large amounts of data need to be collected and analyzed. But there are also some pitfalls to using quantitative analysis. For example, it can sometimes lead…

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