business data

Question 1

quantitative

Answer 1

• concerned with data

- answers questions such as how many

Question 2

qualitative

Answer 2

• based on opinions, attitudes, beliefs and intentions

- aims to understand why costumers behave in a certain way

Question 3

bens and cons of quantitative

Answer 3

bens- easy to analyse, numerical data provides insights into relevant trends

cons- focuses on data rather than an explanation
- doesn’t give reasoning for numerical trends

Question 4

bens and cons Qualitative

Answer 4

bens- essential for product launches, highlights issues

cons- expensive to collect and analyse, based around opinions