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Quantitative Descriptive Analysis: How to Apply It

quantitative descriptive analysis

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Guesses and hunches are the nightmares of business. Decisions for products that are based on a notion can end up being total losses that shrink the profit margins. The global economy and intense competition make it important to get rid of all the mists of uncertainty. It requires the use of various forms of statistical analysis. One way to remove the uncertainty is a proper application of quantitative descriptive analysis, mechanistic analysis and exploratory data analysis tukey.

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What Exactly Is Quantitative Descriptive Analysis?

Tragon Corporation developed this analytical tool 40 years ago. Quantitative descriptive analysis is concerned with sensory perception. It is how consumers react by vision, sound, smell, taste, and the feel to given products. It is the consumer that is the source of information and industries involved with cosmetics, food, electronics, and clothing are going to be very alert to quantitative descriptive analysis results.

The Descriptive Analysis Method

Panels of consumers are used to gather data and they use descriptions they are familiar with to evaluate given products. The consumers on the panels will not discuss their opinions or their descriptions. The descriptive analysis of data is in terms of quantitative explanations and analysis can include Principal Component Analysis (PCA) and Analysis of Variance (ANOVA among other tools.

The best applications for quantitative descriptive analysis are those products that rely on sensory perceptions. Aroma or flavor may appear to be insignificant, but the perfume industry in particular relies on the right scent. Clothing is not necessarily high-fashion and the feel of texture such as cotton or synthetics may determine whether a person will make a purchase. Industries that rely on positive sensory appeal cannot afford to make mistakes. Too much money gets invested in the product line and if it is proven to be unacceptable, then a company is left with an inventory of practically unsellable merchandise.

The Role of Qualitative Descriptive Analysis

As the title suggests, this has a bit less structure than a quantitative study. Researchers would look for themes in behaviors and attitudes. This analysis is useful in social science as well as business. After a background literature review has been conducted, research can take a look at various methodologies. These can include Case Studies or Grounded Theory approaches. Data is ultimately collected through various encounters with subjects. These may be focus groups or interviews. The final result of any analysis can be a narrative or use of descriptive statistics to explain the findings.

Anyone who is familiar with marketing techniques would automatically recognize how qualitative data analysis fits in to their efforts. Focus groups are very common in marketing research and surveys are done repeatedly on e-commerce website. What is important is that the final analysis should be able to pinpoint things such as consumer preference or tastes. As with quantitative descriptive analysis there are any number of decisions writing on the outcomes. Private sector companies can ill afford marketing campaigns that don’t deliver the figures, or e-commerce sites that don’t register sales conversions.

Both types of discrete of analysis are consumer oriented. That happens to be the dominant trend is influencing the business world today!