Question

Quantitative analysis is very meaningful to make intelligent logistic decisions. There are three basic situations where quantitative analysis is helpful for that purpose. List the three basic situations and explain them. Give examples for each.

Answer 1

Ans: 3 Cases for Quantitative Analytics:

1) Understanding how customers are using the product

You can use quantitative analytics to understand how customers use your product or service. This will give you data points that back up what value you think you give to customers based on what features they use most often. You can find out not just who the habitual users are, but how often they use certain features and which features they use.

2) Basic traffic reporting

You can find out where most of your website traffic is coming from by using quantitative analytics. Through Google Analytics, you can figure out where the organic search requests come from and which specific media channels are bringing in the most people.

3) Conversion funnel

Use quantitative analytics when you’re trying to identify where customers abandon your conversion funnel. You can use this data to create a strategy to improve certain steps of the funnel so you can increase the overall conversion rate.