This presentation on Quantitative Analysis for Management will acquaint you with all the essential details that you should know about quantitative business analysis. In this Quantitative Analysis Explained For Beginners tutorial, you will understand what quantitative analysis is. You'll also learn how it works with the help of examples. So, let's get started! About Simplilearn Post Graduate Diploma in Management: Advance your career with the PGDM by one of the top B-schools in India. Earn an accredited management degree without quitting your job through an immersive online curriculum. Choose the specialization of your choice from among Digital Marketing, Operations, Business Analysis, and Data Analytics. The Post Graduate Diploma in Management by JAGSOM grooms you to become a business leader through a comprehensive curriculum delivered by the most eminent faculty from one of the top B-schools in India. You will learn core management concepts along with an industry-aligned specialization of your choice in this PGDM Course. Key Features: ✅AICTE-recognized and AACSB-accredited PGDM certificate by Jagdish Sheth School of Management ✅Program ranked in the 51-100 band globally in the QS Masters Rankings ✅Learn from the industry’s best faculty at JAGSOM ✅Pursue one of the top domain-oriented specializations: Digital Marketing, Operations, Business Analysis, and Data Analytics ✅Deep-dive into the management principles of marketing, economics, accounting, HR and strategy for solving real-life business problems ✅Get noticed by the top hiring companies Learn more at https://www.simplilearn.com/post-graduate-diploma-management

2. Meet Alex, he has established a new Automotive
business venture.

3. The business is operational at low scale, hence Alex is in charge
of all financial and managerial decisions.
 Financial
Decisions
 Managerial
Decisions

4. Click here to watch the video

5. Alex takes his business decisions by following market trends and
his gut.
Market Trend Instinct / Gut

6. Recently, Alex made a decision to introduce a luxury automobile, despite the
fact that his company is still in its early stages.

7. Due to that, Alex went through a substantial loss. And decided to get in
touch with a business intelligence consultant.

8. This is Victor. He is an experienced business intelligence
consultant, who is going to help Alex.

9. Victor met Alex and understood that Alex’s decision making process
is completely qualitative.

10. Victor started explaining Alex about where his decisions went wrong and how he
can make better decisions by utilizing quantitative analysis.

11. Alex began questioning Victor since he was unfamiliar with the phrase quantitative
analysis and its application in making decisions.

12. What Is Quantitative
Analysis?

13. Quantitative analysis is a technique that
uses mathematical and statistical
modeling, measurement, and research to
understand patterns in any activity.
What Is Quantitative Analysis?

14. What Is Quantitative Analysis?
This method necessitates extensive
research at the beginning. The
researched data is then transformed into a
numerical format.

15. What Is Quantitative Analysis?
The numerical data then goes through
computer analysis using advanced
statistical and mathematical modeling.

16. What Is Quantitative Analysis?
End result generated through this analysis is
completely objective and unemotional.

17. What Is Quantitative Analysis?
We live in an era where huge amount of data
is generated every second. And it’s difficult to
distinguish between which data is useful or
useless.

18. What Is Quantitative Analysis?
Traditional analysis models are broken now.
That is why, strong statistical and
mathematical modelling is the way going
forward.

19. What Is Quantitative Analysis?
How Quantitative Analysis
Works?

20. Let’s understand this with the help
of an example.
How Quantitative Analysis Works?

21. How Quantitative Analysis Works?
Gather data of Car
owners across the
globe
Convert gathered
data into numerical
format
Assessing customer
satisfaction with Alex’s
Luxury automobile

22. How Quantitative Analysis Works?
Convert gathered
data into numerical
format Car Owner Data
Sample

23. How Quantitative Analysis Works?
Convert gathered
data into numerical
format
Yes = 1
No = 2
Satisfied with Service
Car Owner Data
Sample

24. How Quantitative Analysis Works?
Statistical modeling is then applied to data
depending on the anticipated kind of
outcome.

25. How Quantitative Analysis Works?
Quantitative analysis uses two forms of statistical
modelling.
Descriptive Statistics Inferential Statistics

26. How Quantitative Analysis Works?
1. Population
In statistics, a population refers to the total group of items, people, or organizations
that you're analyzing.

27. How Quantitative Analysis Works?
1. Population
In statistics, a population refers to the total group of items, people, or organizations
that you're analyzing.
In the case of our customer satisfaction analysis
problem, all car owners throughout the world are
considered a population.

28. How Quantitative Analysis Works?
1. Sample
A sample is a subset of the entire population. In the customer satisfaction analysis use
case, the sample will be data of only 100 car owners.
Population
Sample

29. How Quantitative Analysis Works?
Descriptive statistics: This form of statistics focuses on describing the
contents of sample.
Inferential statistics: This form of statistics aims to make predictions
about the whole population.

30. Descriptive Statistics
Mean
Median Mode
Skewness
Standard
Deviation

31. Descriptive Statistics
Mean
𝑚𝑒𝑎𝑛 =
𝛴𝑛
𝑛

32. Descriptive Statistics
Mode

33. Descriptive Statistics
Median

34. Descriptive Statistics
Standard
Deviation

35. Descriptive Statistics
Skewness

36. Descriptive Statistics
Customer No. Age
1 50
2 70
3 49
4 55
5 65
6 70
7 62
Data Set Descriptive Statistics
𝑚ⅇ𝑎𝑛 =
𝑛
𝑛
𝑚ⅇ𝑎𝑛 =
50 + 70 + 49 + 55 + 65 + 70 + 62
7
𝑚ⅇ𝑎𝑛 = 𝟔𝟎. 𝟏𝟒
Mean = ?

37. Descriptive Statistics
Data Set Descriptive Statistics
𝑚𝑒𝑑ⅈ𝑎𝑛 =
𝑛 + 1
2
𝑡ℎ
𝑡𝑒𝑟𝑚
𝑚ⅇdian =
7 + 1
2
= 4𝑡ℎ 𝑡𝑒𝑟𝑚
𝑚ⅇdian = 55
Mean = 60.14
Median = ?
Customer No. Age
1 50
2 70
3 49
4 55
5 65
6 70
7 62

38. Descriptive Statistics
Data Set Descriptive Statistics
𝑚𝑜𝑑𝑒 = 𝑀𝑜𝑠𝑡 𝑐𝑜𝑚𝑚𝑜𝑛 𝑛𝑢𝑚𝑏𝑒𝑟 ⅈ𝑛 𝑑𝑎𝑡𝑎𝑠𝑒𝑡
𝑚odⅇ = 70
Mean = 60.14
Median = 55
Mode = ?
Customer No. Age
1 50
2 70
3 49
4 55
5 65
6 70
7 62

39. Descriptive Statistics
Data Set Descriptive Statistics
𝑆𝐷 =
𝑥 − 𝑥 2
𝑛
SD = 𝟖. 𝟐𝟑
Mean = 60.14
Median = 55
Mode = 70
Standard Deviation = ?
Customer No. Age
1 50
2 70
3 49
4 55
5 65
6 70
7 62

40. Descriptive Statistics
Data Set Descriptive Statistics
𝜇 = 𝑖
𝑁
𝑥𝑖 − 𝑥 3
𝑁 − 1 𝑆𝐷 3
𝜇 =3 * (Mean – Median) / Standard Deviation.
Mean = 60.14
Median = 55
Mode = 70
Standard Deviation = 8.23
Skewness = ?
Customer No. Age
1 50
2 70
3 49
4 55
5 65
6 70
7 62

41. Descriptive Statistics
0
10
20
30
40
50
60
70
80
0 1 2 3 4 5 6 7 8 9
Data Visualization
Median
Mean
Mode
Non-Parametric Distribution

42. Descriptive Statistics Importance
Helps visualizing micro details of the data.
Helps identify errors and anomalies in the data.
Helps you decide which inferential model to use.

43. Inferential Statistics
Inferential statistics aims to make predictions about the whole population. And there are
two types of predictions it can make.
Difference Between Variable Relations

44. Methods of Inferential Statistics
T - Test
ANOVA
Correlation
Analysis
Regression

45. Methods of Inferential Statistics
T - Test

46. Methods of Inferential Statistics
ANOVA

47. Methods of Inferential Statistics
Correlation
Analysis

48. Methods of Inferential Statistics
Correlation
Analysis

49. Methods of Inferential Statistics
Regression

50. Methods of Inferential Statistics
Regression

51. How Quantitative Analysis Works?
With this explanation, Alex was able to understand how quantitative analysis works. And how he can use the
vast data at his disposal to make the best and profitable decisions.

52. PGDM Program by Simplilearn
Simplilearn’s PGDM program in Data Analytics and Business Analysis can definitely help you
hone this skill of business management. So, explore now and get started!