What is Quantitative Research?
Quantitative Research refers to the systematic investigation in the case in which a person doing the researcher collects the data from the different respondents that are based on numerical figures and data obtained is then analyzed for obtaining the results using different mathematical, statistical and computational tools.
In its purpose, it is conclusive as it quantifies the problem under consideration and provides statistical results to measure its impact.
Top 4 Methods / Types of Quantitative Research
#1 – Survey Research
Using the survey research as the method of research, an organization conducting survey ask different survey questions from the respondents using the various types like online surveys, online polls, paper questionnaires, etc. and then collect data and analyze collected data in order to produce the numerical results.
#2 – Causal-Comparative Research
The Causal-Comparative Research method is used to draw conclusions with respect to the cause and effect equation between the two or more than two variables, where the one variable will be dependent on other variables, which will be independent.
#3 – Experimental Research
This analysis is done for the purpose of proving or for disproving the statement. It is generally used in the field of natural sciences or in the field of social sciences as in those areas; various statements are there which required to be proved as right or wrong
#4 – Correlation Research
Correlation Research was conducted for establishing a relationship between the two closely associated entities to knowing the impact of one on the other and the changes which eventually observed. It is carried for giving value to the naturally occurring relationships. For this research minimum, two different groups will be required.
An example could involve the survey conducted by the hospital of a town, where the hospital wants to know how satisfied their patients are with respect to the treatment taken and their health after that treatment.
The sample of the survey includes all those persons who have availed the treatment of the hospital within the last few days. Quantitative research can help the hospital to explore the variety of problems, and the questions which the patients coming to them are facing.
A clear understanding of the issues identified can help the hospital and the other professionals involved in the health care to tailor their services to match according to the needs of the individuals and, along with that, develop a concordant relationship.
Using the survey, a hospital can collect the quantitative data and the metrics on the goodwillGoodwillIn accounting, goodwill is an intangible asset that is generated when one company purchases another company for a price that is greater than the sum of the company's net identifiable assets at the time of acquisition. It is determined by subtracting the fair value of the company's net identifiable assets from the total purchase price. of the hospital in the customer’s mind on the basis of the multiple parameters like service quality, pricing, the experience of the customer, etc.
These data can be taken by asking the different questions which provide the data in the form of the numbers which can be analyzed by the researcher and worked upon.
- The data in the Quantitative research is collected and presented in the numbers, so the result obtained from it will be reliable as the numbers state the truth and do not lie. Wherever the situation of the conflicts arises, the researchers prefer quantitative research as it gives an honest picture of the research conducted without any discrepancies and is thus extremely accurate.
- It involves the statistics; it provides a wider scope of the data collection for the researchers.
- Quantitative research is not based on the thinking or the perception of the individual or group of individuals conducting the research rather;, it is based on the numbers; thus, it removes the risk of personal biases being shown in the result of the research.
- The data collected in the Quantitative research is less time consuming as the research is conducted on a group of respondents that represent a population and there is the involvement of the statistics for conducting and presenting results, so it is quite straightforward, thus less time-consuming.
The different Limitations and drawbacks of Quantitative research include the following:
- The Survey instruments used for the research are vulnerable to errors like the mistakes in measurement or the flawed sampling techniques as the numerical data is involved. If the error occurs when the research will not give the correct results for which the research is conducted.
- Generally, the Quantitative research method requires the extensive statistical analysis that becomes difficult to perform, especially if the person conducting the research is from the non – statistical background.
- In this method, a structured questionnaire is involved, which has close-ended questions. Due to this, limited outcomes can only be derived from the research, and thus the results cannot represent actual occurring always. Also, the respondents of the research have limited options for their responses as their responses will be based on the selection of the question and their options as made by the researcher.
Important points to note
- In Quantitative research, data is collected and presented in the numbers, and the various statistical tools are used to obtain the results from the research.
- The different factors which are related to the research topic should be studied before collecting the feedback from the respondents.
Quantitative Research is the systematic investigation where the data is collected from the respondents which are based on the numerical figures and the various statistical, mathematical and computational tool is used in order to get the results from the research.
After understanding the numbers obtained from the research carefully, the researcher predicts the future of the product or the service for which the research is conducted and then makes the changes accordingly. The results that are achieved from the quantitative research method are statistical, logical, and unbiased.
This has been a guide to Quantitative Research. Here we will discuss the top 4 types/methods of Quantitative Research, which include Survey research, correlation research, etc. We also learn its advantages and disadvantages. You can learn more about financing from the following articles –