Best Answer

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

User Avatar

Wiki User

15y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is a quantitative analysis approach?
Write your answer...
Still have questions?
magnify glass
Related questions

Which approach do you think should be relied on more heavily for strategy formulation-the quantitative or qualitative approach?

The quantitative approach

Why using numbers to describe kinematic is called a?

Using numbers to describe kinematics is called quantitative analysis. This approach provides accurate and precise measurements of various parameters such as velocity, acceleration, and displacement in a system. Quantitative analysis helps in predicting and understanding the motion of objects mathematically.

What is is quantitative analysis?

Experiments are often likely to contain errors. Quantitative error analysis means determining uncertainty, precision and error in quantitative measurements.

What is quantitative analysis?

Experiments are often likely to contain errors. Quantitative error analysis means determining uncertainty, precision and error in quantitative measurements.

What is quantitative approach?

A quantitative approach is always dealing with a quantity or numbers of some sort to prove a point. With the use of quantitative approach we improve our decision making power. It is especially useful in planning and control.

What is the quantitative analysis process?

The quantitative analysis process entails systematic and descriptive analysis. This is aimed at providing insights in statistics and is a valuable process.

What integrates quantitative analysis into qualitative analysis based on the above record of passengers?

Which of the following integrates quantitative analysis into qualitative analysis, based on the above record of passengers?

Definition of quantitative science?

Quantitative science refers to the study of natural or social phenomena through the use of quantitative data and mathematical models. It involves the collection, analysis, and interpretation of numerical data to understand patterns, relationships, and trends. This approach allows for precise measurements and predictions based on statistical and mathematical analysis.

What is a simple sentence for the word quantitative?

Experts do quantitative analysis after a budget.

What is quantitative ability?

Quantitative ability is the ability to solve mathematical and numerical calculations. Quantitative ability includes graph analysis, arithmetic reasoning, and table and percentage analysis.

What is qualitative and quantitative analysis?


What is quantitative data analysis?

Any type of analysis that deals with numeric data (numbers) is quantitative analysis. Qualitative analysis, on the other hand, does not have numeric data ( for example, classify people according to religion).