According to the history of business, almost of decisions were made basing on the qualitative judgments of individuals that had only cruel data behind them. That is why the world retailers decided which goods and items to stock basing on the gut instinct of the prospective buyer. And they didn’t base on the vital models of the behavior of consumers. The need for the quality research was partly increased, especially in the area of the quantitative analysis. This increasing has forced lots of companies to find and employ leaders and managers who trained specifically in this concrete field.
Modern companies which achieved success utilize the quantitative analysis as the instrument with the help of which they distinguish and solve a great amount of different problems. Such problems and issues may be too different, for example, among them we might find projecting future performance, evaluating financial benefits and determining the savings or simplification of the process. All we know such successful and famous companies as Intel, Microsoft and Coca-Cola. In fact, they are the leaders in their respective fields because of the reason that they utilize effectively the instruments at hand to make informed and right decisions.
There are some methods for solving the existed problems. But the key element of solving the problems is gathering the necessary information for making an informed decision. In 1998 the vital need for quantitative analysis and quality of research were discussed by the company Cooper & Schindler. These specialists project the growth and opportunities for the further business because of utilizing the quantitative analysis. Three key aspects are outlined in this study about the quantitative analysis as an effective management instrument. So firstly it is characterized as the quantitative analysis procedure. The second aspect lies in the cost of effective analysis which evaluates outcomes or results. And the third aspect is the influence associated with a process or impact-determine cost. Like a conclusion, it should be noticed that there are the most of the companies which activities are based on these three aspects. The brightest examples are Brix Networks, Ballard Power Systems and Atlantic-ACM. The leaders of these companies use quantitative analysis and get lots of benefits and advances which are, of course, too good for any company in spite of its level, recognition and the rate of profit.
According to the history of business, almost of decisions were made basing on the qualitative judgments of individuals that had only cruel data behind them. That is why the world retailers decided which goods and items to stock basing on the gut instinct of the prospective buyer. And they didn’t base on the vital models of the behavior of consumers.