DISCUSS THE STRENGTHS OF QUANTITATIVE RESEARCH
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Answer:
There are many researches taking place, which results into the evolution of something new and unique. Traditional Marketing Research have two options to conduct their research: Quantitative and Qualitative method. Quantitative research is dependent on the creation of Hypothesis followed by accurate analysis of the statistics in order to understand and explain the research findings. It focuses more on the quantity of things and their statistical patterns. Using the number it comes to an analysis so as to come to a conclusion. Quantitative research method has proven to be beneficial in the following ways
It provides an allowance on the formulation of statistically sound
Quantitative data provides a macro view with all the required details and comparatively larger samples.
Larger sample sizes enable the conclusion to be generalized.
Evaluation of the multiple data sets can be done at once and that too at a faster pace and accurately.
This method is called to be appropriate when there is a need of systematic and standardised comparisons.
The manual implementations of ideas can be automated completely which can save time.
↬ Weaknesses of Quantitative Data
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Strengths and Weaknesses of Quantitative and Qualitative Research
♦ Quantitative Research
There are many researches taking place, which results into the evolution of something new and unique. Traditional Marketing Research have two options to conduct their research: Quantitative and Qualitative method. Quantitative research is dependent on the creation of Hypothesis followed by accurate analysis of the statistics in order to understand and explain the research findings. It focuses more on the quantity of things and their statistical patterns. Using the number it comes to an analysis so as to come to a conclusion. Quantitative research method has proven to be beneficial in the following ways
It provides an allowance on the formulation of statistically sound
Quantitative data provides a macro view with all the required details and comparatively larger samples.
Larger sample sizes enable the conclusion to be generalized.
Evaluation of the multiple data sets can be done at once and that too at a faster pace and accurately.
This method is called to be appropriate when there is a need of systematic and standardised comparisons.
The manual implementations of ideas can be automated completely which can save time.
↬ Weaknesses of Quantitative Data
Quantitative Method reveals what and to what extent but often fails to answer more on why and how.
This type of research requires the model performance to be monitored on constant basis in order to ensure its compliance with the original hypotheses.
The impression of homogeneity in a sample may turn out to be fake in this method.
This method involves limited number of Quants supply and also involves complex disciplines which are hard to master.
♦ Qualitative Research
It is more focused on exploring the issues, understanding the actual problem and enabling oneself to answer all the questions. Qualitative Research Method is more dependent on deriving the value of variables in their natural setting. The data via this method is collection by asking open ended questions and serving with the direct quotations. Qualitative can be beneficial in the following ways
All the problems and the topics covered under this research are in detail.
This method majorly focuses on small groups which ultimately do not require more expenses when compared to quantitative research.
On the emergence of new developed information and findings, the revision, direction and framework of the data can be done easily quickly.
The data is collected from a small group which bounds it to be universal for a large population.
The data with this method is collected based on genuine efforts and gives a clear vision on what can be expected.
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