Quantitative techniques provide managers with concrete evidence and information, which allows them to make better decisions. Without quantitative techniques, managers would guess and risk assets of the business.
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what are the importance of quantitative techniques in managerial dicision making
One advantage of quantitative techniques in planning is the ability to have better information. A disadvantage is the fact that the process takes too long.
Quantitative techniques in decision making help us analyze decision alternatives in a rational way that enables us to choose a solution that increases the likelihood of meeting defined success criteria. The best quantitative techniques help improve decision making skill while taking advantage of the knowledge and intuition of experts.
Quantitative techniques allow businesses to measure results. With quantitative techniques businesses can know where they stand within their industry against their competition.
the roles of quantitative techniques in the marketing of goods and services
Quantitative techniques provide managers with concrete evidence and information, which allows them to make better decisions. Without quantitative techniques, managers would guess and risk assets of the business.
According to one definition, quantitative procedures are those that give decision-makers a powerful and organized way to analyze quantitative data. The management uses this scientific approach to problem-solve and make decisions.
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Quantitative Techniques in Business solved question
What are the roles of quantitative techniques in marketing of goods?Read more: http://wiki.answers.com/What_are_the_roles_of_quantitative_techniques_in_marketing_of_goods#ixzz2C8TN2fVr
what are the importance of quantitative techniques in managerial dicision making
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1.Quantitative 2.Qualitative
The main advantage of quantitative techniques is that it provides limited scope and depth to the research. Also, it can be easily manipulated so that the researcher can achieve the desired outcome of the research.
Quantitative techniques use procedures that focus on objective measurements in order to draw conclusions about research subjects. Some of these methods include polls, surveys and questionnaires.