Basic tools used in quantitative analysis – Guide
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Quantitative analysis
Quantitative analysis techniques are used for the evaluation of measurable variables or verifiable data such as percentages, revenue, wages, and market share to analyze some sort of trend or relationship. Quantitative analysis uses statistical modeling and rules of mathematics for measuring variables and understanding the behavior of variables under study. Like qualitative research, results of quantitative research are not generally given in terms of discussions but in numerical values on which the final conclusions are based. Quantitative analysis techniques are most useful for the evaluation of performance, for financial instruments valuation, measurements, and also for forecasting or predictions of real-world events just like forecasting a country's GDP for the coming years.
The quantitative analysis follows a certain process that includes; selecting an event for analysis, identifying the problems in that event, developing research questions, identifying the relevant variables for analysis that involves sampling, secondary sources or surveys, recording data in software, the analysis and drawing of results. When essay writer prepares to write an essay, he/she decides how I will write my essay for me,similarly, a researcher decides how I will collect and analyze the data.
Data collection for quantitative analysis
Data collection techniques and the type of data play a vital role in quantitative analysis. To analyze any set of information quantitatively the data must be in the numeric form on which mathematical formulae or statistical analysis tools can be applied. There exist three main data collection techniques for quantitative analysis; Surveys, one on one interviews, and using secondary data from reliable sources.
Surveys
The survey is originally a based method but due to its extensive use as a technique for data collection, it has entered the online mediums. Surveys contain closed-ended questions because it is the most effective way of gathering quantitative data; giving options to select from. Surveys are categorized into two forms; longitudinal and cross-sectional surveys. Longitudinal data is collected in a pre-specified period of time intervals, basically used to analyze a trend. On the other hand, cross-sectional data is collected for a specific time period.
One-on-one interviews
This technique enables the researcher to gather several types of data. The one-on-one technique of data collection has changed into telephone calls or online portals. Interview questions are pre-decided and the data collector also gives detailed information about the topic to the participants for clarity of the situation and relevant results.
Analysis methods
Data collected using different relevant techniques only makes sense when it is analyzed in an appropriate way using appropriate tools. There are several methods by professional essay writer to analyze quantitative data which are as follows;
Cross tabulation
Cross tabulation is used for mutually exclusive data or data sets that have some link between them. This is the most widely practiced technique for analysis because cross-tabulation draws interference among a data set with the help of a basic tabular formation.
Trend analysis
Trend analysis is one of the statistical methods that is extensively used to analyze quantitative data. Trend analysis is used only for a longitudinal set of data that has been collected over a period of time. If free essay writer aims to collect information about the changes in the trend of the selected variable then trend analysis is the choice to make.
SWOT analysis
SWOT is a tool used for quantitative analysis in which the analyzer allocates numeric values to four variables; strength, weakness, opportunity, and threats. This method is efficient for formulating business strategies after the evaluation of all concerned aspects of the business. This method can be repeatedly seen when you buy essays online from the essay writing service based on a business topic.
Conjoint analysis
Conjoint analysis is a tool used to analyze parameters to find the reasons behind a consumer’s decision. This method is very efficient at collecting and analyzing data in the form of matrices which gives an in-depth analysis of the reasons responsible for a certain buying behavior or trend.
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