Three Key Aspects and Company Examples

Using Quantitative Analysis as an Effective Tool:

Three Key Aspects and Company Examples

For most of business history, decision making was based on qualitative individual judgements that had only crude data behind them. Retailers decided what to stock based on "gut instinct" of a prospective buyer, not on the basis of vital models of consumer behavior. The increasing need for quality research, especially in the area of quantitative analysis, has forced many companies to employ managers and leaders with specific training in this field. The successful companies of today utilize quantitative analysis as a tool to find and solve many different problems. These problems can be as diverse as: evaluating financial benefits, projecting future performance, and determining the savings or simplification of a process. Companies such as Coca Cola, Microsoft and Intel are the leaders in their respective fields because, they effectively utilize the tools at hand to make informed decisions. The key element of any "problem solving" method is to gather the information necess!

As this case study has shown, Cooper &Schindler (1998) described three aspects of quantitative analysis: (1) quantitative analysis procedure, (2) Cost-effective analysis-evaluates results or outcomes, and (3) cost impact-determines cost or impact associated with a process. In the examples discussed, Ballard Power Systems realized a need to expand their business globally by merging with strategic partners able to effectively deliver the benefits of clean, efficient, and reliable power in a wide spectrum of potential applications. Utilizing the quantitative analysis procedure to identify alternatives/costs/benefits, estimate the value of each, compare costs to benefits and, finally, select the best alternative with the best sustainable advantage enabled Ballard to reach a decision that would ultimately allow them to reach their goals effectively. Atlantic-ACM utilized cost effective analysis to determine that in order for wholesalers to sell their products effectively they ne!

Brix Networks (2001) commissioned Sage Research to conduct a survey of 148 U.S organizations ranging in size from 500 to more than 10,000 employees. The type of quantitative studies utilized by Sage Research was cost impact. Cost impact determines the cost or impact associated with a process. The process in question was service level agreements. The service level agreement in question is an agreement between enterprise businesses and ISPs. The process is the successful implementation of the SLAs. According to Brix Networks (2001) over half of the enterprise IT professionals surveyed, said that services such as web hosting, e-mail, IP VPNs, with guaranteed SLAs have more than 30% more value than the same services without guaranteed SLAs. Service providers who provide guaranteed SLAs in the service contract were more likely to develop a loyal customer base than providers without SLA guarantees. Considering the fact that approximately one third of enterprises change provi!

ormed decision. Cooper & Schindler (1998) discusses the vital need for quality rese

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