Quantitative methods emphasize objective(s) measurements and the statistical, mathematical, or numerical analysis of data collected through polls, questionnaires, and surveys, or by manipulating pre-existing statistical data using computational techniques. It provides the benchmark for decision making as a systematic and powerful means of analysis, based on quantitative data. It is a scientific method employed for problem solving and decision making by the organization. Explain the need of methods in empirical research?
The need for quantitative methods in empirical research is driven by several key factors:
1) Objectivity and reliability: Quantitative methods provide a systematic and standardized approach to data collection and analysis, which helps to ensure objectivity and reliability of the findings. By using precise measurements and statistical techniques, researchers can minimize biases and errors that may arise from subjective interpretations or judgments.
2) Generalizability: Quantitative methods allow researchers to collect data from a representative sample of the population and statistically analyze it to make inferences about the entire population. This enhances the generalizability of the findings to a broader context, making them applicable beyond the specific sample studied.
3) Precision and accuracy: Quantitative methods enable researchers to collect large amounts of data with precision and accuracy. The use of statistical procedures helps to measure and quantify relationships between variables, identify patterns, and make predictions. This allows for more confident and reliable conclusions to be drawn from the data.
4) Replicability: Quantitative methods emphasize replicability, meaning that other researchers should be able to replicate the study using the same methods and obtain similar results. This is an essential aspect of scientific research, as it allows for verification and validation of findings.
5) Efficiency: Quantitative methods often allow data collection and analysis to be conducted more efficiently compared to qualitative methods. This is particularly important when dealing with large-scale studies or when time and resources are limited.
6) Decision-making support: Quantitative methods provide a solid basis for decision making by providing empirical evidence and insights into various phenomena. Business organizations, policymakers, or researchers can use these methods to make informed decisions, predict outcomes, identify trends, or evaluate the effectiveness of interventions or strategies.
In summary, quantitative methods in empirical research are crucial as they provide a systematic and objective approach to data collection and analysis. They offer reliability, generalizability, precision, replicability, efficiency, and decision-making support, making them an essential tool for evidence-based decision making.