Quantitative Research

Quantitative Research refers to the systematic collection and investigation in the case in which a person doing the research collects data from different respondents that are based on numerical figures and the data obtained is then analyzed for obtaining the results using different mathematical, statistical, and computational tools. The quantitative research design allows the researcher to find averages and patterns.

In its purpose, it is conclusive as it quantifies the problem under consideration and provides statistical results to measure its impact. It is majorly used by researchers who want to study situations, circumstances, or events that affect people physically, psychologically, or even intellectually. These data points are clearly established, collected, and analyzed find solutions for the given scenario.

• Quantitative research systematically collects and analyzes numerical data to identify patterns, relationships, and trends. It aims to measure and quantify phenomena, allowing for statistical analysis and the ability to generalize findings.
• This type of research follows a structured approach, employing methods such as surveys, experiments, and statistical modeling to gather and analyze data in a standardized manner.
• Quantitative research findings are typically presented using statistical summaries, charts, tables, and numerical values. This approach enables objective and replicable results that can be used to draw conclusions and make informed decisions.

Quantitative Research is the systematic investigation where the data is collected from the respondents which are based on numerical figures and various statistical, mathematical, and computational tools are used in order to get the results from the research.

After understanding the numbers obtained from the research carefully, the researcher predicts the future of the product or the service for which the research is conducted and then makes changes accordingly. The results that are achieved from the quantitative research method are statistical, logical, and unbiased.

In Quantitative research design, data is collected and presented in numbers, and various statistical tools are used to obtain the results from the research.

The different factors which are related to the research topic should be studied before collecting feedback from the respondents.

Let us understand the different methods through which a quantitative research methodology is carried out during research. These methods vary upon the data size, nature of research, and the heterogeneity of the data collected. This discussion will help us understand the methods in-depth.

#1 - Survey Research

Using survey research as the method of research, an organization conducting a survey asks different survey questions from the respondents using the various types like online surveys, online polls, paper questionnaires, etc. and then collects data and analyzes collected data in order to produce the numerical results.

#2 - Causal-Comparative Research

The Causal-Comparative Research method is used to draw conclusions with respect to the cause and effect equation between the two or more than two variables, where the one variable will be dependent on other variables, which will be independent.

#3 - Experimental Research

This analysis is done for the purpose of proving or for disproving the statement. It is generally used in the field of natural sciences or in the field of social sciences as in those areas; various statements are there which required to be proved as right or wrong

#4 - Correlation Research

Correlation Research was conducted for establishing a relationship between the two closely associated entities to know the impact of one on the other and the changes which were eventually observed. It is carried for giving value to the naturally occurring relationships. For this research minimum, two different groups will be required.

Let us understand the concept of a quantitative research design with the help of a couple of examples. These examples will give us a detailed understanding of the concept.

Example #1

The survey conducted by the hospital of a town, where the hospital wants to know how satisfied their patients are with respect to the treatment taken and their health after that treatment.

The sample of the survey includes all those persons who have availed the treatment of the hospital within the last few days. Quantitative research can help the hospital to explore the variety of problems, and the questions which the patients coming to them are facing.

A clear understanding of the issues identified can help the hospital and the other professionals involved in health care to tailor their services to match according to the needs of the individuals and, along with that, develop a concordant relationship.

Using the survey, a hospital can collect the quantitative data and the metrics on the goodwill of the hospital in the customer’s mind on the basis of the multiple parameters like service quality, pricing, the experience of the customer, etc.

This data can be taken by asking the different questions which provide the data in the form of the numbers which can be analyzed by the researcher and worked upon.

Example #2

The business intelligence market is one of the most researched markets and has been growing extensively for the last few years. In 2023, the business intelligence market is estimated to be worth $47.9 billion.

Large corporations have been looking for solutions for quantitative research solutions and therefore, they comprise to form the largest section of the demand in the market for such solutions.

Companies like Meticulous Research have been providing solutions for large corporations and small to medium-sized businesses since its inception.

Let us understand the advantages of following the quantitative research methodology through the points below.

1. The data in the Quantitative research is collected and presented in the numbers, so the result obtained from it will be reliable as the numbers state the truth and do not lie. Wherever the situation of conflicts arises, the researchers prefer quantitative research as it gives an honest picture of the research conducted without any discrepancies and is thus extremely accurate.
2. It involves statistics; it provides a wider scope of data collection for the researchers.
3. Quantitative research is not based on the thinking or the perception of the individual or group of individuals conducting the research rather;, it is based on the numbers; thus, it removes the risk of personal biases being shown in the result of the research.
4. The data collected in the Quantitative research is less time-consuming as the research is conducted on a group of respondents that represent a population and for the statistics are involved in conducting and presenting results, so it is quite straightforward, thus less time-consuming.

Despite the various advantages mentioned above, there are a few factors that prove to be hassles for researchers in terms of viability and interpretation. Let us understand the disadvantages through the explanation below.

1. The Survey instruments used for the research are vulnerable to errors like mistakes in measurement or flawed sampling techniques as numerical data is involved. If the error occurs when the research will not give the correct results for which the research is conducted.
2. Generally, the Quantitative research method requires extensive statistical analysis that becomes difficult to perform, especially if the person conducting the research is from a non – statistical background.
3. In this method, a structured questionnaire is involved, which has close-ended questions. Due to this, limited outcomes can only be derived from the research, and thus the results cannot always represent actual occurrences. Also, the respondents of the research have limited options for their responses as their responses will be based on the selection of the question and their options as made by the researcher.

Both quantitative research design and qualitative research have been extensively used by researchers to find the appropriate interpretation of their data points. However, there are stark differences in their fundamentals and implications. Let us understand them through the comparison below.

Quantitative Research

• It analyses numerical data and can be quantified in terms of hard facts.
• They are the best fit to find logical interpretations for large data sets and statistical analysis.
• The data can be collected through virtual interviews, in-person interviews, surveys, controlled experiments, etc.
• The analysis is carried out through charts, tables, and statistical analysis tools.

Qualitative Research

• It is the analysis of non-numerical data such as qualities, feelings, or opinions.
• It is the go-to design of analysis for small groups to determine the hypothesis and gathering information.
• The collection of data can be through open-ended questions, observations, group discussions, focus groups, etc.  
• The analysis can be done through manual analysis such as grouping with common themes or factors, etc.

This has been a guide to what is Quantitative Research. We explain its examples, methods, and advantages, and compared it with qualitative research. You can learn more about financing from the following articles –

• Econometrics
• Quantitative Financial Analyst
• Quantitative Research Examples
• Conditional Probability Formula