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Using Quantitative Analysis as an Effective Tool Three Key Aspects and Company Examples Derek Keith Iltis MGT480 March 26 2001 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 ary to make an informed decision Cooper Schindler 1998 discusses the vital need for quality research and quantitative analysis By utilizing quantitative analysis Cooper Schindler 1998 we can project growth and opportunities for future business This case study will focus on three key aspects of quantitative analysis as an effective management tool 1 quantitative analysis procedure 2 Cost effective analysis evaluates results or outcomes and 3 cost impact-determine cost or impact associated with a process Finally specific company examples Ballard Power Systems Atlantic-ACM and Brix Networks will be cited Quantitative Analysis Procedure-Select Alternatives with Best Sustainable Advantage Numbers are a businessmans best friend They are first of all the measure of success They are increasingly a critical tool for
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