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Quantitative techniques involve the use of numbers symbols, mathematical expressions, and other elements of quantities, and serve as supplements to the judgment and intuitions of the decision makers. Quantitative techniques help businesses in efficient utilization of limited resources.
Contrast that with qualitative analysis, which uses subjective judgment to analyze a company's value or prospects based on non-quantifiable information, such as management expertise, industry cycles, strength of research and development, and labor relations.
Some of the primary techniques applicable to Quantitative Management include: Theory of Probability Sampling Analysis Correlation / Regression Analysis Time Series Analysis Ratio Analysis Variance Analysis Statistical Quality Control Linear Programming
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