Definition: Quantitative research is a study of elements that implies a collection and analysis of measurable data. It differs from qualitative research because numerical data is obtained from a sample and then used to generalize conclusions about a larger group.
What Does Quantitative Research Mean?
Quantitative research is widely used in several fields of knowledge, especially in sociology and marketing. In business, this kind of study is commonly performed to obtain useful information about a population group and thus to design better strategies to reach it. The objective is generally to gain a better understanding of attitudes, patterns or opinions present in a group by determining the relation between a set of variables. Data can be analyzed and manipulated mathematically.
The research can be done through different methods although surveys and questionnaires are the most common. The company asks about different subjects to the sample in a structured way. The number and characteristics of the sample must be statistically representative to obtain numerical results that can be extrapolated to the entire population.
Example
Gifty Chocolates is a chocolate manufacturer that has the intention to enter the category of chocolate mixed with fruits. One of the Product Managers decided to conduct a quantitative research to know which fruit flavors were preferred by middle-class women, who were the target group of the firm. An expert consultant who designed a short but concise survey also took charge over the research project. He conducted personal surveys to women aged 30-50 years that were visiting malls in the city during the evening.
The survey was only five questions long but the findings were highly useful to define the new product strategy. Thanks to the conclusions of the quantitative research, the firm designed three delicious chocolates filled with apple, strawberry and peach. The pineapple variety was discarded after the study. The products were very successful and the company achieved success in the category as expected.
