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Top Approaches on How to Do Quantitative Research Analysis

Quantitative Research | Tips and Tricks on Data Analysis

The field of quantitative research analysis can be applied to many different disciplines, but expert advice is still needed to get a good approach. We’ll show you how.

statistical data analysis schema

Several approaches exist in the field data analysis quantitative research, but not all of these are applicable to all of the different types of analysis options people might look at. What might be good for a chemical analysis might not be right for the financial world or quantitative marketing research. In fact, it might even be useful to think of those as two entirely different things that just both happen to be called quantitative. That’s naturally an oversimplification, but it’s useful to keep in mind while perusing the list of top approaches.

The Top Approaches

Those who are just starting out with data analysis in quantitative research will want to consider each one carefully. That being said, it’s not too hard to go back to the beginning and change the approach if it wasn’t right. Keep a backup copy of the data figures at all times. That helps those who are trying to flip back and forth between approaches.

The top five approaches are:

1) Stochastic calculus is pulled out any time that people want to apply mathematical techniques to the world of finance. This academic discipline is slightly obtuse, but it’s extremely well suited to financial data. Option pricing and ratios work particularly well in this respect.

2) Analytical chemistry has its own approach, which deals with the measurement of substance quantities produce in reactions. Simply noting the nature of the individual reactions is a description, and doesn’t necessarily directly have anything to do with analytical chemistry.

3) Social statistical analysis techniques are used when calculating certain types of outcomes. Those who want to decide what the general population might do when faced with certain choices might want to go this route.

4) Mathematical psychology competes with the above techniques, and at one point was largely used by those who wanted to see how people might react to certain types of business decisions and the like. That being said, this has a wide variety of uses that are geared toward many different fields of research, which has helped to keep it popular.

5) Quantitative analysis of behavior is also often useful to those who are deciding potential outcomes. Marketers at times have also used this particular style, as they want to see what people might choose when they’re faced with different brands and prices. Like mathematical psychology, though, it has a wide variety of uses.

Deciding on an Approach

The specific type of quantitative data analysis in question will tend to dictate what kind of quantitative research approach needs to be used. Those who are working with chemical data will have to pick one that fits. Those who have financial or business data will need to select one that fits there. After a while, it can become almost automatic as to what works and what doesn’t.

Choose quantitative research analysis for your research today!