Question

"Reflection to date" Please respond to the following: • In a paragraph, reflect on what you've learned in this course. Identify the most interesting, unexpected, or useful thing you’ve learned in Quantitative methods and explain how it can be applied to your work or daily life in some manner

Answer 1

Quantitative methods can be used in daily life in presenting and using data effectively in an understandable format. For example, for an IT manager, the adequacy of different project management practices can be analysed by studying the relative efficiency of those practices using different parameters like resources required, delivery efficiency, cost effectiveness, etc. These can be summarized and presented to the management so that favorable decisions can be taken.

A marketing professional can consider the historical impact of different marketing practices while considering the best approach for promoting a product/service. Visualizing the response to different marketing campaigns gives a clear insight into the effectiveness of the different strategies, as well as pitching the strategy to clients more effectively using statistical figures drawn using data.

On the other hand, a gym trainer can study the result of various training techniques by analyzing the response of his clients to different exercise schedules and diet plans. This helps him improve his services by customizing the training plan as per the kind of client.

A shopkeeper or store manager can study the sales patterns through different seasons and improve inventory management practices accordingly to achieve minimum wastage and maximum sales.

For people running for a public office, data gathered through surveys can help them perform sentiment analysis beforehand and streamline their campaign plan using different metrics drawn using this data to avoid surprises later on.