In: Statistics and Probability
The quantitative research methodology is the single
most scientific and reliable approach to investigation”. Critically
discuss this statement with the use of supporting
examples.
Quantitative research methodology, further bifurcating this term. Quantitative, as the word, suggest quantity. It means anything which can be measured in terms of quantity is called quantitative. Numbers, statistics or mathematical data leads to a particular inference like if you purchase anything, you look for the cost first, which help you to make decision that your pocket will allow you to purchase that thing (a very small example of day to day life related to quantitative research is that, before you purchase a mobile phone, you first check the cost and then which website or retailers are selling is at what price, in the last you purchase is from the place who gives you lowest price in the market).
In the same way, quantitative research help researcher to reach to a conclusion based on the numbers. We can take the example of marketing research. Customer satisfaction is the key to the success of any product. But how companies reach the conclusion that customers are really satisfied with the product. For this, they use customer satisfaction survey’s which are normally based on a quantitative methodology. They interview their clients or customer on various issues and ask them to rate on the scale of 1 to 10 in which the lowest is the worst and highest is the best. These survey’s based on quantitative methodology help’s companies to build a customer loyalty program and use these results in the various marketing campaign.