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The 30 Day MBA, 4th Edition by Colin Barrow

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11

Quantitative and qualitative research and analysis

  • Decision-making tools
  • Statistical methods
  • Making forecasts
  • Assessing cause and effect
  • Soft studies
  • Carrying out surveys

Finance, marketing, operations and HRM (human resource management) collect an inordinate amount of data and the IT (information technology) department processes it. However, it falls to the application of analysis techniques to interpret the data and explain its significance or otherwise. Bald information on its own is rarely of much use. If staff turnover goes up, customers start complaining and bad debts are on the rise, these facts on their own may tell you very little. Are these figures close to average, or should it be the mean or the weighted average that will ...

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