What are the strengths of quantitative research?

Market research has to be a consistent practice for a brand to successfully offer products or services that their audience can resonate with. Without effective and strategic market research, you cannot be on the same page with your audience. Being on par with current market trends and your audience’s changing preferences enables you to make more-informed decisions and develop more effective marketing or business strategies. In a nutshell, market research can be divided into two types, i.e. quantitative research and qualitative research. When you conduct quantitative market research, you basically deal with numerical data that can be plugged into a spreadsheet and analyzed with statistical methods. Quantitative market research is a more structured method and can therefore involve a larger number of respondents to participate. Conversely, when you conduct qualitative research, you deal with non-numerical data that is more subjective in nature. It offers unstructured information in the form of focus group comments, observations, etc. that is summarized subjectively.

Quantitative market research revolves around using statistical, computational, and mathematical techniques to analyze numerical data and derive valuable insights and patterns. So, it is effective in deriving meaningful numerical relationships. Both types of market research have their own significance and their own advantages. We, as a reliable market research company, delve below into the strengths of quantitative market research:

Important facts from numerical data

Through statistical analysis, you can derive important facts and valuable insights from data that is purely numerical in nature. You can explore preference trends, differences between various audience segments, and demographics

More accurate and reliable

In a case where the emphasis is more on measurable relationships than opinions or characteristics, quantitative research is more accurate and reliable since it involves studying and analysing numbers to derive meaningful conclusions that can be leveraged further.

Analysis with clarity

Numerical data that you have can tell you which statistical tests you should run to analyze it, which means in case of quantitative market research, you get straightforward analysis with a high level of clarity. It is less open to subjectivity and error.

More valuable

Since analysing quantitative data involves mathematical or computational techniques, quantitative market research requires mathematicians and technical advancements, like stock selection and computer modelling. So, there is a sense of value associated with it since not everyone can conduct quantitative research.

As a leading market research company, we offer quantitative research services as well as qualitative research services. Under quantitative market research, we offer intercept interviews, telephone surveys, and global panels, including B2B panels and consumer panels. So, if you are looking for a market research company that can effectively provide you with valuable insights gathered from numerical data, reach out to us!