We know that quantitative analysis approach includes a high level overview of the importance of identifying the problem, developing a model, acquiring input data, developing a solution, testing the solution, analyzing results, and implementation. Provide an example in business (from your own experience, if possible) to explain how this approach is applied.
Then discuss the following:
- In your example, was quantitative or qualitative data used? How do you know?
- What should happen after implementation? Why?
- If a solution does not work in the "testing the solution" part, what part of the process would you re-analyze first, and why?
Sample Solution