The Role of Quantitative and Qualitative Research in Business Decision Making

This presentation covers the roles of quantitative and qualitative research in business decision making, including the importance of questionnaire design and discussion guides. It also discusses correlation, regression, and time series analysis, as well as the limitations of these techniques. Finally, it explores how data can be collected and used to make informed business decisions.

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Introduction
• Roles of quantitative market research in business
• Importance of relevant questionnaire design
• Role of Qualitative research in Business
• Importance of discussion guide and use
• Correlation. Regression. And Time Series Analysis
• Limitations of Correlation, regression
• How to improve collecting Data (when the data is required to make
business decisions)

The role of quantitative research in modern
marketing research and data analysis

The role of quantitative research: Questionnaire design with
examples of good practice

The role of qualitative research in modern marketing research
and data analysis

The role of qualitative research. The Interview Discussion guide:
design & use (with examples)

Correlation & Regression:
How & why it is used - with examples
Correlation Regression

Time series:
What it is & how it is used - with examples
• The time series is being defined as the
observation which involves the discrete time
data in order to evaluate the data in better terms.
• This use of time series is being used as the
running charts which is being created in order to
evaluate the working of the company and to
decide for the future working as well.
• this includes the collection of the different
observation in order to identify the trends and
pattern within the past performance in order to
improve the future working.

Critique of issues surrounding the analysis techniques
Correlation
•The use of correlational study that is study based on
the correlation and the limitation is that it only
uncovers the relationship being present within the
variables.
•Under this method only the information being
gathered is connected with the phenomenon and this
result in developing the outcome.
Regression
•The drawback of using the regression analysis is that
it involves a lengthy and complicated process which
affects the calculation and output to a great extent.
•along with this another limitation of using regression
is that it is not applicable to qualitative elements and
phenomenon. this sometimes limits the use of
regression as in case of study based on qualitative
factor will not be evaluated in proper manner.

Critique of issues surrounding the analysis techniques
Time series focusing on Big Data & its use in business decision making (focusing on Big Data & its use in
business decision making)
•Along with this there are also many different limitations of using time series data. these limitation involves the
following-
•the major problem being attached with the use of time series is that it has the issue of generalisation from the
single study.
•This is because of the reason that many a times a single study is being generalised and the outcome is applied
to every situation and even in case where it is not applicable.

How data can be collected & used to make informed business
decisions.
• Along with this it can be stated that the data must be collected and used in better and effective manner.
• This is very necessary for the reason that in case data will not be used in proper manner then this will be
affecting the working efficiency to a great manner.
• For the better informed business decision, it is necessary that proper data is being collected in order to take
the decision. hence, for this the different sources of data can be used.
• These sources of data involve primary and secondary sources of data.

Conclusion
•In the end it is concluded that the data insight is being defined as the analysis of the data using different
statistical tools and techniques.
•This is very necessary for the reason that when the data will not be analysed in proper manner then the
objective of the study will be met.
•Along with this it was evaluated that correlation and regression is important to be analysed in order to
evaluate the relation between the variables.
•Moreover, the use of time series was also evaluated in order to evaluate the data from past and it can be
used for future prediction as well.
•Along with this the issues being identified in every statistical tool like all the tools are time consuming
and involves great knowledge.

List of References
• Christou, E. and Chatzigeorgiou, C., 2020. Adoption of social media as distribution
channels in tourism marketing: A qualitative analysis of consumers’ experiences. Journal
of Tourism, Heritage & Services Marketing (JTHSM). 6(1). pp.25-32.
• Crick, J.M., 2021. Qualitative research in marketing: what can academics do
better?. Journal of Strategic Marketing. 29(5). pp.390-429.
• Grewal, R., Gupta, S. and Hamilton, R., 2020. The Journal of Marketing Research
Today: Spanning the Domains of Marketing Scholarship.
• Hetenyi, G., Lengyel, A. D. and Szilasi, M.D., 2019. Quantitative analysis of qualitative
data: Using voyant tools to investigate the sales-marketing interface. Journal of
Industrial Engineering and Management. 12(3). pp.393-404.
• Magano, J. and Cunha, M. N., 2020. Digital marketing impact on tourism in Portugal: A
quantitative study. African Journal of Hospitality, Tourism and Leisure. 9(1). pp.1-19.