Quantitative And Qualitative Methods Of Research Essay

899 Words4 Pages
Quantitative versus qualitative
(Lichtman, M. 2006) It is true that most of the management in the business world go for mixed methodologies in order to attain comprehensive and accurate findings of the research. Having said that there are pros and cons of both the methods that are taken into account by the management in order to achieve set goals and overcome hindrances in the business. Qualitative method of research is a speedy process that provides fresh and inventive results with in- depth analysis of the matter of research. Statistical data may enlighten on the percentile of people switching over to other brand but it is only through interaction with the customer base that the reason behind the switch over can be found. Since qualitative method of research requires fewer participants, the findings can be achieved in lesser time as compared to quantitative method. A firsthand experience is an added advantage of this method since it allows the research to observe and then ask relevant question, which in turn saves time. While it is easy to highlight the pros of qualitative method, looking for advantages of quantitative method of analysis is no difficult. Since the advent of modern and sophisticated tools of statistical analysis, tremendous growth in the field of finance and econometrics has been witnessed. One vital distinction of the two is description versus measurements whereby quantitative exploration is commanded by extensive scale empirical surveys while qualitative
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