Business Plan Based Upon Technology

Quantitative research is done to find the accurate facts by evaluating the problems like opinion, behaviour by using numerical data. This research is based on theories, hypothesis, collecting, analysing the data to make the research accurate.

Quantitative data is facts that are written in numerical form and then proven. The way Quantitative data is recorded is in numbers. An example of Quantitative data is 55%take bus, 25% take train, 10% walk and 10% car.

Collects numerical data that can be quantified. Research with numbers. Focus on measuring, collecting and drawing relationships through statistical analysis and experimentation.

Quantitative research methods are objective as it uses measurements and analysis of statistical data to answer the study question. The researchers’ opinions do not affect the outcome of the study, ensuring that the study is unbiased. Another advantage is quantitative research uses numbers and statistics which is understood universally (Houser,2008).

Analyze the options available for producing the product or service and evaluate which of the options you can take to streamline operations

Scientific method involves quantitative information. For example measuring changes in the body and analysing blood or urine samples. Body mass index is used to measure height and weight to distinguish whether an individual is a healthy weight.

“Researchers who use quantitative research method seek objectivity through testable hypotheses and carefully designed studies, and gather date that can be reported in numbers and statistics” (Crawford, 2016, p. 66). According to Crawford (2016, p. 66) “conclusions from this study are drawn from statistics and generalized to populations of interest”. Unlike qualitative that helps to eliminate opinions and thoughts, quantitative quantify opinions and thoughts and they obtain results from a larger sampling population. As I had previously stated on my discussion board “Quantitative researcher’s collection methods include many different kinds of surveys for example; online surveys, paper surveys, online polls, face-to-face interviews, telephone interviews, and etc”(myself). “They use the surveys to measure attitudes, behaviors, and opinions” (myself).

Quantitative Research- a research based on experimental data, a survey that proves the actuality of the theory.

There are (3) reasons why I have chosen energy drinks as my NAB. First off, there is a growing market for energy drinks. Red Bull and Monster Beverage Corporation, together, form over 80% of domestic energy drinks volumes by estimates. Dollar sales for energy drinks grew almost 6% to $6.67 Billion in measured channels in 2013, which propelled sales growth for convenience stores (Team, 2014). A growing thirst for caffeinated “energy” drinks, which include the likes of Red Bull, Monster, and Rock star, has spurred a heart-thumping surge in sales. Globally, the energy drink industry has gone from a $3.8-billion business in 1999, to a $27.5-billion

Alternatively, Quantitative analysis is a more commonly practised method as it relies on testing, simulations, calculations, formulas and any other appropriate forms of data to produce a representative figure.

Quantitative research involves collecting data, which can be expressed numerically. The design is well structured with pre-determined outcomes. It frequently involves testing a hypothesis, which then can be analysed from the data deductively using statistical methods. Using numerical data is easier to analysis mathematical, so larger sample sizes can be utilised compared to qualitative research, therefore giving a better representative of the population; along with simplifying the process of making a generalisation. Another advantage is that studies can easily compare to similar findings (Kruger, 2003). The disadvantages are the results are limited and might not provide a proper understanding of the topic. Also, statistics and leading questions can be used to give a false representation of the data when summarising.

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Quantitative research methods are utilized to study the natural phenomena. So, it includes survey methods, formal methods, and numerical methods.

(i) Quantitative vs Qualitative Research: Qualitative research methods is based on values and not numbers while quantitative is based on numeric and Quantifiable data to generalize in its conclusion.

In addition to the strengths outlined above, we have also identified several weaknesses that the company must overcome to be successful. Our key weaknesses are: